Mag 7 stocks are higher by 0.3%, whilst a list of 100 high beta stocks are lower by 1.2%. Cryptos miners and meme stocks are heavily sold with losses ranging from down 2 to down 4%, while secular low beta stocks are up 0.2%.
For whatever reason, aluminum, autos, semis, REITs and insurance stocks are up, while gene editing, trucking, cannabis and solar stocks are hammered.
I, on the other hand, am in possession of gains, of the mediocre varietal, +52bps in slow yet methodical trade. People often ask me what my core thesis or brand is and it is this: I never blow up or fold during hard tapes. I persevere and achieve wanton success, especially during times when you’re all bedraggled and lost in the sea of shit. This is my speciality, to navigate the storms you can’t even see in front of you, let alone the one’s looming.
I expect little change from now till the end of day, as we all eagerly wait for $NVDA earnings tomorrow.
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It’s low season for market drama, heading into Labour Day. I don’t know how you guys can handle this sort if slogging relentlessly ahead. But it is spicy on the political side, only just getting started I hope. Even the Ukraine incursion into Russia territory seems to coincide with the election in the USA.