US stocks bolt out of the gate in January, with QQQ up over 5%. Me, I shoot myself in the foot, up a mere 1.2%. The culprits are Apple and Tesla running way too hot. I took big losses on sold TSLA calls.
Still, I am up for the month. Self-grade is C-. Could have been a lot worse, had I stayed in the way of the runaway train. Of course, leveraged longs on those hot stocks made a ton.
I’ll regroup and reassess my stance. I expected a modest decline, due to delayed selling to book gains in the new year, and pay tax in April 2021.
Overall Internet chatter remains mixed. There seem to be more people convinced that leveraged long is a no-lose strategy. More people that had a good 2019 and want to trade for living. On the other side, there also seem to be more regular folks that are raising cash, or moving all to cash.
I remain cautiously bullish. Too cautious so far, but the year is young yet.
I posted a lengthy year-end recap on Reddit. For those that missed it, here is the link
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