18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,010 Blog Posts

A Stagflation Type of Day

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.

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One comment

  1. the_wolf

    Continued rotation into energy

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