We are seeing nominal rotation today, out of MAG7 stocks and into commodity related names — off the back of sharply higher WTI. We also continue to see vagrant degenerate piece of shit stocks buoyant in a sea of refuse. I’d argue this market should be sold — but I’d probably be wrong. I hate proffering bad or ill timed advice.
No, we are betwixt a mania of many sorts: geopolitically, nationally, commodity, real estate, currency, and equities. The wild eyed shift out of dollars and into Bitcoin/other cryptos speaks to a narrative of risk. Markets do not top at the highs, as stupid as that might sound. Before an eventually move lower, we’ll get some distribution and some truly volatile sessions marked by and accentuated with fear. There isn’t any fear in this tape — just a lot of odious kids running about telling you to “choose rich.”
When to sell?
This is never an easy answer but if you need structure — base your sales off allocation percentages. If your allocation in a stock is 5% and it doubled in price and is now 9 or 10%, sell it down to 5% again.
Overall models that are for long term should abide by similar allocation models and cash levels should not be higher than 10% with stocks at RECORD HIGHS. You will never time the top so stop trying.
As for my trading — another RECOURD high +111bps, stacked with 33% cash and a 12% $BITX position — eagerly awaiting a late night adventure higher for Bitcoin. I’m off to a very good start for 2024, +14%. Do not feel envy or look at me with any varying degrees of animosity or animus — for my talents in the stock market are meaningless fribble and pose as nothing but a reminder that trading stocks is an absurd avocation and an even more absurd career path. NEVERTHELESS, I beat on, backs against the current.
If you enjoy the content at iBankCoin, please follow us on Twitter
