Yes it is true I wanted to see the world burn. It is also true I had some $SQQQ and $UVIX heading into today. But while all of that is true, my job as a professional isn’t to get emotional and apply my ideologies to the market. As such, I covered my in the morning and permitted my longs to rip.
The permanent bear class of investor is very much like the Qanon retards, pretending Trump was still President after Biden stole the election. You cannot sit there with the $SMH +4.5% and say this is bearish. The Bank of Japan satiated the panic in Asia and the sellers exhausted themselves. The market is going up and Biden, although braindead, is still President.
I’m +170bps for the session, having only placed 3 trades today, genteelly gallivanting throughout the session with my slippers and robe still on. The $SMH is down down more than 10% for the month, so expect further upside should market not be disrupted.
I’m also a fan of the small caps, which are down 8.3% for August even after today’s spike.
On a final note, can you morons stop blowing up your accounts, please? It’s not hard to avoid. Limit your position sizes to less than 6%, spread out your holdings across different industries and don’t buy small caps or companies that lose money for a living. If you go into the market wanting to get rich from it, you will lose all of your money. You have to view this as a daily struggle that requires constant attention and curation, which entails listening to the conference calls of your investments, constantly seeking out new ideas, having a great screener and chatroom like Stocklabs, being able to listen to others who know more than you because they’re either much smarter to have more experience. Some of you reading this will believe “it can never happen to me” because “I am too good.” I once blew up, wrote two small books about my time during the dot coms: maybe you can learn something from it you fucking idiots.
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