Last night (Wed night) was the first day of a correction:
- Bought some space related ETFs on market open. They are correcting - could be because of the New Glen explosion, could be a sell-the-news event for SpaceX IPO (in which case I'll lose money). But its a bull market, buy stuff thats going up till it stops.
- Also bought some other low quality techy/AI adjacent stuff. Shit flies in a Quad 2 bull market.
- Bought a little IWM.
- MSTR is dropping like a rock, regardless of wether the market is up or down. 2 days ago they sold bitcoin to pay preferred stock dividends. I have a good position. Its falling so fast you can't even short it anymore (SEC uptick rule). Good chance that bitcoin only recovers after Saylor is carried out in a body bag.
- Sold Google on a small bounce at open. Small loss. Its oversold, but Hedgeye risk range has 5 consecutive lower highs. I don't know why its selling off on news of the Berkshire Hathaway's stake...stock down on good news --> get out.
My IWM and space-crap buying was a bit early, its down this morning. I'm at 8-9% cash. Want to buy base metals (incl. copper miners) and small caps, probably in the next 1-2 nights. Enjoy the bull while it lasts. "As long as the music is playing, you've got to get up and dance."