Overall, the market is middling today. We were supposed to tank based off the JPM words — which hurt the soft landing crew. Nevertheless, we went straight up since the open and the gains are heavily concentrated in small caps.
Have a look at the gains intraday by market cap.
All of the shit is rocketing now, especially names with big short positions in them. I have made it a point to apply leverage to my account in order to capture some of this lightening and have gains presently of +130bps. I am not, however, content, and feel almost like I am down for the day. I just pressed another hedge on top of my portfolio of shit, which is like attempting to stop a boat from sinking from a torpedo strike by taping the gaping hole with masking tape.
It’s very possible the market will REWARD me, since I am a good person and I do deserve to be treated fairly. But you never can tell if the market is going up or down.
Bottom line: I am up more than 6% for the week and have room to gamble here, and will do so, as it is my custom to press gains and act foolish in the face of horrifying reversals.
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