As I so plainly put it a full 24 hours ago, “And, if my balls were the size of well-watered cantaloupes, I’d have increased my positions form 40 to the full 160. But they’re not, so I didn’t. I’m just too goddamned scared.” Thus, predictably (and with the aid of your President):
Not that I’m too upset with myself. With all the idiotic crap that’s taken place over the past eleven weeks, I have every right to be cautious. I am pleased, however, that I had the testicular fortitude to expand my risk from 40 positions to 70. Still, it’s hard to entirely trust the tenacity of these selloffs, with that goddamned son of a bitch Powell at the helm. Oh, the one who should be tortured to death. Just wanted to mention that again.
Speaking of whom…………I cannot…………I seriously cannot believe he said this. Look, he seems like a very intelligent man. There is NO WAY he can believe this. Zero. None. He’s lying.
There have been an abundance of signals about the obscene amount of bullish bravado lately. Off the top of my head:
- The aforementioned tweet from your beloved leader;
- Similar tweets from his sycophantic toady VP;
- That embarrassing blowhard David Portnoy declaring himself the greatest day trader in the world (you just know the guy is going to get smoked);
- Stories of empty-headed beginners putting their “stimulus” checks into Robinhood accounts;
- The astonishing growth of new equity trading accounts in the past few months;
- People gobbling up airlines, whose economic future is totally bleak;
- So-called investors gobbling up the stock of bankrupt companies;
- So-called traders buying up the stock of cruise lines, which is an industry headed for complete shipwreck
- And the piece de resistance, that tweet Kudlow sent of him standing in front of the White House, shrieking about the jobs report and the stock market and doing a little dance. I just spent 10 minutes trying to find it, but maybe it was so embarrassing they took it down.
In any event, it’s gratifying to see the bulls getting completely torched this morning, and I can only express the sincere wish that I hope it lasts.
My sincere thanks again to the premium members here, who are anointed saints. You make Slope possible.
