COLLAPSE THE COMMODITIES!

I see no reason to take today very seriously. It’s evident to me that the market is merely fucking with people, ebbing in and flowing out of hot trades, such as silver and copper. More that that, most of the FANG stocks are lower, more than 1.2% in the aggregate, ahead of earnings from $NVDA.

Interestingly, this comes off a blog I wrote last night declaring there weren’t any bear cases to be made AT ALL and that stocks had a trajectory upward, based off the success of the FOMC and looming euro carry trade. I sometimes feel like saying things out loud like that, instead of the inside voice, manifests terrible things. It’s not to suggest that I am contrarian indicator. I know that I’m not, based off my results. However, I have been known to get quite excitable and my core strength lies in my adaptability, not some hard coded mantra that causes me to obstinately invest based off principle.

That said, I had reduced losses to 60bps via some proficient trading, went to the gym, and came back to COLLAPSE, as markets swooned lower so did my 100% long book, now off by 107bps.

Two schools of thought are coarsing though my mind now and I don’t want to be too rash, jumping in and out of positions based off hourly moves.

One thing is for certain, the entire commodity complex has been upended and is getting tossed into flaming barrels of garbage. I haven’t hedged because I endeavor to remain long and I’m long because I want to believe.