Well it turns out China isn’t going to zero after all, who woulda knew. Thanks to a big pump of Stimulus from XI it’s now time to also unload my longer term China positions. The valuations are still good but my edge for this idea ends at these levels.
Next up, Space is finally starting to move. As you’ve seen I’ve been scooping RDW which has now become my largest position. I’ll explain my thoughts on that in more detail shortly.
XBI, IWM and other rate sensitive asset classes continued to sell off yesterday. It seems investors are losing hope of this idea actually playing out. I use IWM to gauge overall strength but it’s something I’d personally trade. There are many great small cap companies that buying the shit that comes with IWM makes no sense to me. This is still a bull flag in the making but no brinks on a breakdown.
QQQ continues to head higher as funds sold and retail are screaming “BUT WHAT ABOUT THE NATIONAL DEBT”. People are under-positioned.
$BMY Is due to announce KarXT, this is a massive deal for the company. It could also trigger moves across related biotechs and get things rolling. If I’m wrong I’ll delete this watchlist 😂
Onto my thoughts on RDW…
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