Vix closed at a new low today, now hanging out like a moron in the 12’s. The promoted narrative on Wall Street is better than expected earnings, led by banks. Meanwhile, Goldman posted better than expected numbers, but the stock traded down today. All the while the world burns, markets saddle record highs. It’s almost as if the people on the NYSE were immune to geopolitical events, solely focused and reliant upon central bank schemes.
Since BREXIT, every single risk on asset, minus crude, has cooperated. Like a well tuned Stradivarius, the puppet masters have jimmy-rigged prices towards record levels, in the face of mounting concerns. The proverbial ‘wall of worry’ is in fact very real. Having said that, I am betting against this tape via EDZ, 3x ‘Fuck China’ ETF, courtesy of Exodus. I will hold it until Friday or whenever it’s +5% from my basis.
Bottom line: there is a very dangerous and toxic blend of complacency and bad news taking place now. Historically speaking, betting against MOAR, when the VIX was sucking the 12 handle, has more often than not led to solid downside gains.
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Positions reset in the last couple weeks: FAZ, SDS, SDOW, DRV, TECS, UVXY
Positions added to: FAZ, SDS, DRV, UVXY
Green: BIS, EPV, EWV
Ytd: -10%
Not a lot of red to be seen any’mo!
Clearly the drive on this leg is to dismantle, pound and press, and eliminate shorts
The proposition is to take away the biggest mental edge they have to get, ” red ”
85%+ inverse
In the next picture his wife creeps out with a knife and slices the rope supporting the hammock.
Hard to have a malaise in the death tape. Ge got the 20 today just like clockwork.
I haven’t gotten shorts in GE for the last year or so. They dilute their financial arm and play catch up to the global sector sporting a decent divi….