A Little Risk Aversion is Creeping Back into the Tape

A little risk aversion is creeping into this tape. I did my usual thing, closed out all of my positions at the open, including SOXS — which I carried as a hedge. I gained 0.56% so far.

The EV sector is on fire — finally — after TSLA stock has risen 100% in the past month and change. Piece of shit stocks like RIDE and NKLA are ripping. As a matter of fact, many micro cappers are ripping, which is normal in a bull market. The knee jerk reaction you might have is to fade this market because trash is being bought. On the surface, I agree with you. But we can still run higher before we pull back, so you’re better off waiting for a real reversal rather than anticipating it.

I’m all cash aside from my BTC position. I find comfort in being in cash with some morning gains. When I get greedy again, which could be minutes from now, I’ll dive back in.