For those who don’t know, the above is the KPOP group BTS. They have a song titled “Bad Decisions”
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Show Notes
Summary of the day
He doesn't post often but always watch out for Diego Parrilla and his work. I recommend his interview below.
I love his framework...
Stages of expertise
Unconscious incompetence
Conscious incompetence
Conscious competence
Unconscious competence
The entire video is masterclass. I especially loved at 19min market the hard lesson on conviction and the market doesn’t care about yours.
He was in a gold position that was going against him and he asked his boss at JP Morgan if he can double up. Diego was told to sell the position and buy it back twice. In effect his manager was becoming his stop loss. So after he got out of 10,000 ounces of gold and was ready to buy back in 2x the size, he paused and stopped. My takeaway is never ever fall in love with a position.
Speaking of bad decisions! Per Slopeofhope.com.
In spite of the fact that, even in this brain-dead goes-up-every-day market, TSLA has been bucking the trend day after day, the degenerate gamblers at WSB figured they should put their life savings into TSLA calls.
Here’s one example. As the poster says, he started with $250,000, and he put his surviving few thousand bucks into TSLA calls. I suspect his days as a “trader” are now over.
Breadth
970 new highs
142 new lows
42% advancing 54% declining
35% below 50 day ma
36% below the 200 day ma
Stuck out
TSLA after hours
If you are curious, here is the Tesla Investor Deck. And Webcast. The Q&A is the best part.
Strong
Weak
What to watch
Watch mag 7
Watch yields
Economic data
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