"Great Time to Buy!"
Fighting Stupidity with "Smart" Trades - Addendum
On “Orange Monday” we said “"Buy when there's Blood in the Tweets".
Importantly, the point was not to panic. You can be annoyed and angry (like I was on my call with Paulo!) , but you can’t panic.
After all, this was a “man-made” disaster, which could easily be reversed. And it did.
On Wednesday, Trump tweeted out that it’s a “Great Time to Buy!”.
Xmas 2018 was the last time Trump said it was a “great time to buy stocks”. The market proceeded to rally by >20% over the next 5 months.
This time, the Market rallied 10% in a DAY, one of the strongest days ever!
This was due to Trump pausing the additional Tariff roll-out by 90 days (except on China).
Shrubstack readers know that “once you realize it’s all nonsense, it starts to make sense”. Unfortunately, Ackman hasn’t realized this yet, unless he’s really just playing along like the rest of us:
In any case, Ackman’s tears once again marked the Bottom: the Ackman Meme Bottom ™️. We give thanks to Bill. Never change🌳🙏
Once again, the key is not to panic. Unfortunately, nowadays even the Strategists are 0dte Traders. Just take a look at Goldman’s shifting their view to “Recession” and then to “NO Recession”, in the space of … 73 minutes! (h/t @litcapital).
AND I’M THE PARODY ACCOUNT?
I can’t wait for them to flip back to “Recession” after the Earnings Season, lol!
Lets step back for a sec…