Markets have picked up in the past few minutes, but breadth is still weak and we have pronounced weakness in various consumer sectors while strength is most abundant in commodities and anything related to agriculture. Due to soaring commodity prices, natty, coffee and wheat are all up 5%, investors have a hankering for beaten down commodity stocks.
My quant, which is almost all oil, is flying up 3.75%. My trading is having a more muted reception, up just 0.26%.
I’m only 50% invested at the moment with a position in FAZ as a hedge. I’m trading defensively because, well, I feel like it god damn it.
Markets appear to want higher now, stagflation or not. I chased all I felt like chasing this morning, but will chase no more.
If you enjoy the content at iBankCoin, please follow us on Twitter
Continued rotation into energy