The Dow is up, NASDAQ higher — but the big story is the move in cryptos. It seems we are busting loose to the upside on BTC-ETH and the miners are going with it. The prevailing trend has been to buy the mornings, no matter the occasion. Yesterday SCHW tanked at the open and then ripped higher all day long on earnings and news that they lost $300b in deposits.
My point is, we are in a bull run. I am reticent to say bull market — due to the implications that might have on my psyche. But we are certainly bullish now — are we not?
I had some quick trades early on — all successful. Now I have a very small hedge with LABD — but nothing too major. I am not in the mood to short too much — but will do so only against a fully long book in order to freeze my gains.
Presently, I am +42bps and scouring the market for the next move up or down.
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