BITCOIN BUSTS LOOSE TO THE UPSIDE

What are you bitches going to do about it? $BTC is above $54,000, $ETH above 3,100 — and you’re there with dick in hand wondering when it’s going to collapse. You’re sitting there hating on Elon Musk, Bitcoin, and AI — portfolios in tow OFF by 305% for the session. Don’t you know markets don’t care about your feelings? Don’t you know you’re a dumb son of a bitch?

I’m trading in a somewhat genteel manner, albeit tempted by the risk on today. There are two tapes today: one of the ribald nature and the other risk off — mostly amongst lower beta stocks. One could make the case that today is a perfectly fine bull market session. Not every day is marked or marred by tragic tragedies and looming collapses. Maybe, just maybe, we drift higher.

I’m +44bps, 75% cash, seriously contemplating the close to come.