Another day where the NASDAQ is higher and the small caps collapse. But the more important data point is the US 10yr +7bps. All of you retards were popping champagne corks into each other’s faces last week when rates came down. You said “duhhhhh, Powell and the Fed have our backs,” when in fact none of that shit is true. The Fed wouldn’t urinate on your flaming bodies if needed.
I opened up the session +45bps, thanks in large part to my supernatural abilities to see the market, at all times. I have 10% in $TZA and 44% cash, the rest in a pastiche of well placed longs.
My confidence levels right here for a strong move in either direction is low. Therefore I’ll wait until it breaks in either direction.
Ultimately, my job is now to retain the 6% returns I’ve achieved in November, grow them if easy, but maintain them at all costs. We are not river boat gamblers and aren’t desperate or deranged to the point of taking on too much risk for the sake of making all of the money now. We are gentlemen of the first order and comport ourselves with the dignity of our class, so fuck off.If you enjoy the content at iBankCoin, please follow us on Twitter