This is a chart of the S&P 500 overlayed with the top 10 stocks Robinhood users have been buying for this bounce. Obviously what they are buying (airlines, car company, cruise lines, etc.) is not performing remotely as well as the S&P 500 index, and so they probably aren't seeing much upside on this bounce. Even worse, when this bounce turns, they are going to get destroyed as most of these names are directly in the line of fire for economic damage from the virus and are not likely to bounce back for years (and will probably lead the coming drop lower).
The major lesson here for me is: it matters what you short. I'm short the S&P 500, which was clearly a mistake. I could've been short a number of more selective areas and faced less upside risk on this bounce.
The stocks were pulled from this twitter post, and most of the rest of the list are just as bad (with a couple exceptions like MSFT):
twitter.com/michaelb.../1259274780315774977
The major lesson here for me is: it matters what you short. I'm short the S&P 500, which was clearly a mistake. I could've been short a number of more selective areas and faced less upside risk on this bounce.
The stocks were pulled from this twitter post, and most of the rest of the list are just as bad (with a couple exceptions like MSFT):
twitter.com/michaelb.../1259274780315774977