I lost money today, cucked, and forced to watch other lavishly praise themselves as gurus for making a good amount of coin today. You saw the NASDAQ +128, but it was all NVDA and other mega mega caps. Actual breadth was 37%, which meany most stocks lost money for traders and if you played the AH’s earnings gambits, well then you might’ve stepped on a few landmines.
Shareholders of PTON, LTHM crushed under a plethora of sell tickets, whilst BILL, BIGC and DDOG rose.
Earnings season is always a dice roll and I’d be lying if I did not admit to liking the danger of it all. By the way, if you’re a sub of Stocklabs — use our newswire for earnings news. If you’re not, I have something for you too — a free newswire.
I closed out very long but with a TZA doubled sized hedge which will do very little if we tank, other than to assuage my emotions to feel safer when I’m really not. I am wholly and magnificently exposed and down 90bps for the day with another 70bps in the AHs due to my excursions.
It’s important to remain calm and place things into perspective. If the bunch of stocks held in my account is wrong, I can fix it tomorrow. Down days doesn’t mean down forever. It only means I have to try a different combo — perhaps a theme or perhaps contrarian. One thing we do have working in our favor is seasonality. It is rare to see stocks suffer for long in November, and this includes cryptos — which are coming in now.
Just last month NVDA looked dreary and today it went haywire above $300, acting like a crypto currency. Today’s trash is tomorrow’s treasure and vice versa. Although down today, I will trade great again — maybe tomorrow or perhaps Monday.
WE SHALL NOT TRADE LOWER FOR LONG BARRELING INTO TURKEY DAY. It is settled science and there is no debating it.Comments »