We are max oversold following a 500 point drubbing in the NASDAQ. Naturally it happened while I was traveling and away from the desk all day, only time to pop in for moments to buy dips. I bought them but still remained in 50% cash and yet in spite of all that I still lost a staggering 4%.
We are oversold for all algos now except historical. I can promise you this, there is a massive upside day coming but I can’t really ever tell you with 100% certainty during panics. The feeling is always dreadful and I almost always second guess being long into tapes like this. I remain so because, to be honest, I’d rather be wrong and lose money than miss out on an oversold bounce forecasted by algorithms that I developed and have depended on for more than a decade.
I haven’t ventured much inside the Pelican Room today but I’m sure many people are considering blowing their brains out en route to the pavement from the ledge they just leapt from.
The reasons for panic is as follows.
RUSSIA CUTS OFF GAS TO POLAND AND BULGARIA BECAUSE THEY REFUSED TO PAY IN RUBLES.
All that aside, we are, invariably, heading into combat with a very big army and for those of you OSINT homos on Twitter maligning the Russian army for losses — you should shut the fuck up because once we commit to destroying them, they will do the same and it’s shameful of all of you to not see the ramifications of all this. I will never support a war for Ukraine and I will never sacrifice my sons to defend their corrupt and wretched country. That’s for Ukrainians to do, yet for some reason, we are ensnared in the deep state’s web.