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There aren’t supposed to be second chances in the market, but that’s not true. We got a glorious second chance thanks to a combination of BTFD disease, an emergency rate cut, and Biden’s victory on Super Tuesday. All of this result in a multi-thousand point reversal on the Dow, which gave me an opportunity to gently position the necks of the bulls at exactly the right groove of the guillotine. Thus, Thursday was rocking.
I must say, after my night-of-talking-to-myself, and my “new way“, I was in a much better place mentally. It was cathartic and transformative. At least briefly.
Note from Tim: Thanks to the much, much more interesting market (as opposed to just one month ago, when it was ungodly dull just crept up 0.5% day after goddamned day), my inbox has been flooded with myriad interesting characters, each of whom has their own tale.
I received an absolutely extraordinary email from one particular gentleman, who shall remain anonymous. After receiving this email, I asked his permission to share it with you, which is generously granted. Enjoy, and be amazed (note the only editing I have done is to boldface some items for emphasis):
Where’s the worst damage from Covid-19? Anything to do with togetherness, gatherings, and socializing. Just look at the crashes around you. Movie theaters. Amusement parks. Restaurants. And, God knows, cruise ships. Hell, they could find a cure today for Covid, and cruise ships are going to have a stigma attached to themselves for years to come.
So what’s doing well? Hardly anything, with one exception: the companies that cater to solitude, remoteness, and division. It’s a great time to be anti-social. The funny thing is that I was suggesting these as longs WAY before any of this nasty stuff happened. Observe:
No, no, not manufacturing-type factories. I’m talking about the locus of obese Americans with absolutely no self-control or self-respect: Cheesecake Factory. I’ve made this a frequent target of my short ideas, and as my put positions are up 53% at the moment (and I intend for them to be up hundreds of percent once it’s done).