The kabuki theater kicked into high gear, scaring people. That is because when you are scared you flinch, and when you slip just that much, JUST THAT MUCH, algos will lance 100 holes in you.
The market is behaving itself like a top tier executive after a good night’s sleep. The market is reading the Wall Street Journal (have not read this paper in five or so years) while eating roasted duck and poached eggs. The market is driving the Bentley patiently into the office and greeting the security guard at the entrance with a gingerly tip of the hat. Then the market is meeting with its top advisors and strategizing the next big move.
The market is behaving very top hatted.
Yet jolts of fear are shooting across the bow of the stock world. They don’t want to chase your winners. Instead the smart money wants you to panic so they can buy your blood.
Stick with your best ideas, grab a wad of gumption and stick it in your cheek. Then spit at the losses you are incurring and welcome a little pain into your life.
I sold out of VIPS and MHR because these were trades aka cheap thrills. I want to focus on my core. I’m still an oil man so I simply took down a large position in USO.
Cash is 33%
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