I closed the session FLAT, but made +230bps in the Quant and +120bps in my YOLO accounts. My hedging strategy works so well it all but negates the thousand transactions I do per session. Into tomorrow, I am fully invested with a 16% hedge in FNGD. I like the weakness of FANG stocks, spearheaded by AMZN, to plunge America back into a state of equity panic.
All is coming to a head soon. But before we get to the point of shooting fish in a barrel, we must first exhaust all buyers and destroy all rallies to the point they become dispirited and acquiesce to market forces lower.
My bias is long but that can switch quickly. The sideways action all day, in my opinion, is constructive action and aside from tech — much of the market was rather indifferent to bullish today.
INDEUD.
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The so-called neocons that installed Biden also installed one of their own to fulfill Biden’s pledge to get us back into the JCPOA. Well surprise, our neocon negotiator just declared the negotiations dead. After trashing the idea of further talks he said “We will use other tools…”
China is reopening, the Fed is going to pivot soon, oil is going to plummet, stocks are going to ATH, “the war” is almost over, North Korea and Iran are making peace with the USA and Elon Musk is sane.
What delusion am I missing???
Inflation?
Today, longs will be impaled and roasted over hot fires. Inflation is red hot. The FOMC has told us repeatedly to cease buying equities and spending money. They have told us repeatedly that they will continue to raise rates until (backward looking) data shows slowing inflation. That has not happened and will not happen for sometime. Today will be a repeat of the last meeting and a repeat of the Jackson hole word whipping. Cash and TBH.
oh the despair , of it all
US private sector employers added more jobs last month than any genius economist surveyed thought possible.
The plebs now have plentiful choices of jobs and economic opportunities
the poor aggrieved parasites who trade stocks and talk about stocks for a living will be righteously aggrieved
what is this country coming to????