I went to water my lawn because it just got aerated and seeded and came back to gains HALVED in spite of the market closing near the lows. For context, I had some low beta stocks and hedges in $SQQQ and $SOXS. Needless to say, I am greatly chagrined by the resultant gains of just +22bps, down from the highs of +58bps before I went out to water the lawn.
For the month, I am up more than 1%, which is good considering stocks shed 3% this week alone.
In a little bit, I will venture off to buy some compost, peat moss, and top soil in order to fortify my lawn. I bought this house last year and the soil is horrible and shallow. I will introduce some ammonia nitrate, compost, and some high quality seed shortly.
Next week I fully anticipate a forlorn CNBC, as markets enliven and panic lower. Presently, the hedge funds believe we go up. If you press them why, like children they simply say “just because.” There is never coherent statements from them and can barely offer basic facts about the economy and why stocks belong higher. These people manage your money and will keep buying dips until they’re punished and their jobs are threatened.
When they begin to sell and panic, then we can have a bottom in on this market. You do not need to believe some blog by some random angry person; have a look at the VIX sub $14 — laughing in your face as you warn people about the perils of complacency in an economy teetering on the brink of collapse.If you enjoy the content at iBankCoin, please follow us on Twitter