Loading ...“So, I can exist on this plane, you know, to circle back to your question, I can exist on this plane without giving a shit about the world burning, without giving a shit about what makes sense, without giving a shit about any of this stuff, as long as I take that out of the equation, right? I have to mentally take that out of the equation. Because if I don’t, I’m not going to be able to trade these things as I see fit — or I’m like you and I just store a bunch of gold and wait for it to go to $5,000.”
Sang Lucci has been my friend for more than 10 years.
He runs an online community called The Steamroom which focuses on reading tape and the options market every day with the legendary Wall St. Jesus — the man almost singlehandedly responsible for today’s obsession with tracking unusual options activity.
He joined me on my podcast this weekend to talk the resurgence of malls, why he ignores macros, the effect of 0DTE options on the market and more.
“Let’s not forget the narratives and the sentiment that’s being sold to us on a daily basis, and then the market does completely the opposite thing, right?” Lucci tells me when asked about macro.
“We saw that here last year with, you know, the sort of hyperinflation, markets should come down, we’re in this sort of recession, and all this kind of stuff, and none of that happened. And meanwhile, the semiconductors just took us out of the depths here and continue to take us out. So, do I have any idea what’s going on? Hell no.”
Talking about valuations, he notes: “And you know, with all these valuations going through the roof, you know how I rationalize it, Chris? I always rationalize it as, ‘This is the same human behavior, happening time and time again.’ And when it comes back out, that’s gonna be my world, you know what I mean?”
“And I will be able to make millions of fucking dollars again and again and again,” he continued, “because human behavior never fails, man. It never fails, these sort of boom and bust cycles. So, as ridiculous as this looks right now, Abercrombie and Fitch is going back to zero dollars at some fucking point in time.”