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I know how it feels. Oh, yes, I know all too well.
There you are, watching things go your way. You can practically taste it. All you need is a breakout. And – – it DOES break out! Yes! We’re gonna scorch those America-hatin’ bears. Jim Cramer wins! Cathie Wood wins! Oh, yes!
Trillions (literally) of dollars of value have been destroyed by the tiny increase in interest rates we’ve seen so far. Take a gander at these major funds and try to spot the trend. This is historic.
I dug deep earlier today and plunged for my inner bull. He found his way out by taking some profits on shorts and – gasp – going long TSLA. I made a quick eight hundred bucks on TSLA and said “no mas”, because the /RTY futures were approaching what I consider a moderately-important resistance level, so I’m pure bear again. To be clear, I’ve got 25.3% cash (!!!) but my hands are not holding anything long anymore.
That didn’t sound quite right.
I noticed the top-trending item in Twitter yesterday were the words “Poor Elon“. Today the top one is “Mike Lindell” which actually has nothing to do with the pillow guy but is essentially saying Elon is the new Mike Lindell. Suffice it to say that sentiment against the guy is pretty hard now. Which tells the contrarian in me that Tesla is probably ready to get some strength from these levels, with $700 being ferociously defended.
