Markets Win No Matter What

We are sort of in a win win scenario with rates, given the backdrop of the ECB already cutting. If we cut we accelerate, particularly with companies with high debt burdens, such as builders and industrials. If we don’t, financial shenanigans ensue with a potential Euro Dollar carry trade.

You might find it incredulous to believe, but markets appear to be heading higher no matter what.

Today we have the US 10yr cascading lower by 16bps, which is providing succor to an otherwise bedraggled homebuilder sector. We are also seeing commodities shoot up and a general contentment sweeping Wall, although limited to just 61% of stocks higher.

As for me, I have been BOGGED DOWN in attempting to extricate any gains from $GME. Shortly after getting my face pummeled in for a 7% loss, I bought the stock back substantially higher, but with only 1% of assets with the intent to use dips to buy. Almost immediately, the stock tanked again, as if it were waiting for me to get in. I added another 1% to the position and it has tanked ever since then, providing me with a unrealized loss of 6.5%. I should be buying another 1% but my gains have collapsed to just 1.3% for the session.

Although appreciative to make money, this is underperformance largess and it would behoove me to risk too much whilst pink levels are elevated and the perspiration builds above my furrowed brow.

I have about 36% cash and will allocate it long into the close.