Just completed the finishing touches on the day and finally caught my breath. What a glorious day of a reversal of fortune, and my head is still spinning.
Let me update you:
I rode the energy bull [[ERX]] today from $43.82 (14:10 ET). What the hey. I’ve got [[DXO]] . But prior to doing so, I blew out my [[SDS]] position at $109.10 (13:34 ET) in it’s entirety. Thank goodness. My sense is that this rally is what we need to lift the tide.
The size of the Fed’s balance sheet has mushroomed to over $1 T over the past few weeks. Monetary policy is shifting into 5th gear trying to stabilize asset values and fiscal policy appears poised now to support income growth.
Back on offense (for now). This is ridiculous.
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