This week snapped. I made my money shorting but could have made more if I flipped bias to "long" today.
Big Tech traded like shitcoins e.g. Meta Platforms ("FB") down 25% on earnings, conversely, Amazon ("AMZN") up 14%. A week prior, Netflix (NFLX") nuked 25%. Snapchat caught everyone off-guard after announcing its first profitable quarter, rocketed 55%.
For weeks, I have been very patient with XOP/SPY breakout to play out. Finally hit my alarm at 113 only to retrace back to range after a nimble high sweep. My comrades on Discord got stopped out buying opening range breaks on Oil names. Got bored immediately.
I turned on my Aggr chart audio and was welcomed to the irritating pitchy sound made by massive Bitcoin buy orders. In my mind, Bitcoin has been highly correlated to the traditional markets recently, therefore, it should be down as the indices are down. Surprised, I was looking at BTC smashing the meme linear trend-line and the 1H resistance. Whatever, I'm not impressed. The Awesome Oscillator, moving averages, and High Time Frame price action are still bearish as fuck. Depending on what the boomer ponzi coin does, I have ideas to trigger in IBKR.
I was mostly trading Alts on a 15m chart and now sitting at +22% on my futures account. Speaking of futures, I believe Binance will remove UK retail access to derivatives before 14th this month. Thanks to the FCA for protecting retail on the risks of crypto yet any adult can go the the casino and lose everything. Mah leverage!
8PM - Traditional market flipping green, breadth improved and earnings gappers disappointing faders. I'd like to bid on earnings pivot but the AMD good earnings bleed was uncool. I feel like something is stupendously odd about this massive casino. Am I hedged? No, cash is a hedge.
The bond market reacted red on the Nonfarm Payroll report on surprised labour participation versus estimate. I'm not smart enough to speculate NFP impact, but in my view, the numbers is important as precedence that the US labour market is healthy and recovering back to pre-pandemic levels. The market has been pricing the hikes since Q3 and accelerated in November. I'm not interested to know if the market is pricing in 3, 4 or 7 rate hikes. It is not my problem. But everyone knows that the almightly Fed, saviour of the boomer market, and of course, the US congress want to hike rates because inflation can no longer be wrapped as "transitory". Also, cough, midterms.
When normies, us, begin to complain that gas, eggs, lumber, rent and milk are too high, something needs to be done to prevent us plebs from marching on the streets. Rate hike to slow down the economy is a Fed trick to "normalise" inflation back to goals level. The market, however, is not dumb. It is forward looking, and will forever be.
I am in no rush to max my position and has been steady with my max trade risk at 0.05 and cut my size to half at .005. So, first month of 2022, my trading account is up 6%. I have no clue what's happening with my crypto portfolio, my stables are all over the place, I received nearly $1000 shitcoin airdrops, I'm earning interest on my stables, and I'm farming on an decentralised exchange that could rug me anytime.
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