Those Who This Morning Thought Markets Would Close Up Deserve To Lose Everything They Did — And Why Is ‘Ferrari’ UP?
The mentality and acumen of many of my fellow investors amaze I!
Why would you think — on a FRIDAY — with New York & California closing down, that THE SMART MONEY (and yes, I do count myself among those (SMILE, SMILE)) would go LONG into the weekend. [‘Long’, meaning without taking risk off the table.]
That is not how it works. Smart money is risk averse. They are NOT going to get caught short over the weekend in case things really start to unravel. Best to unwind position and keep your powder dry for Monday.
All that said, I am LONG — and have been for 20-years! But, I am SMART MONEY.
I knew that we would close down today. Had to. If we hadn’t, I would have despaired.
I am keeping an eye on Ferrari.
Now, in the case of Ferrari — I did sell! I had owned Ferrari for YEARS, since it was spun off from ‘Fiat Chrysler‘ in 2014!
I will buy it back — later in the year.
But, why is it going up NOW?
How is rushing out buying cars right now.
I feel bad for the stupid money. SMILE.
There is a so called ‘dead-cat bounce‘ of stock markets. To I this feels different. I would NOT be surprised if it does not fizzle out by this afternoon!
That is why I am calling it a ‘dead-virus bounce‘. Different characteristics.
We are a long way from DONE. This virus will continue to wreak havoc for months. The market will NOT like it. We still have a ways to go down.
So, do NOT celebrate. Do not become complacent. Nothing to cheer here.
Those Who Sold Amazon (AMZN) Stock Last Week, On Coronavirus Fears, Are STUPID And Don’t Deserve To Own AMZN.
The Coronavirus is GREAT for Amazon. Jeeeez!
Think about it for Christ’s sake.
People don’t want to go Walmart, the Mall or their supermarket. They are going to stay at home and order ONLINE — from, guess who, Amazon.
I was telling my daughter to BUY AMZN!
I don’t need to buy AMZN!
I have owned AMZN since 2014. SMILE. Not selling anytime soon. SMILE.
I am GLAD the stupid investors are out of AMZN. I can’t abide stupid investors. Good riddance. Leave AMZN for the seasoned pros like I. Thanks. SMILE.
I was long 2008 to 2012. No reason to NOT be so now. Thanks. SMILE.