OK, I had a better look at the market and this is what I think.
Oil is ripping higher because of supply issues, but that the same time ECONOMIC SENSITIVE commodity plays like CLF, X, shippers are lower, suggestive of inflation yet economic collapse aka STAGFLATION. Prices will drop under these conditions, but oil and other SUPPLY CONSTRAINED commodities will rise.
We have a scenario where the market is traders is misconstruing today’s strength for economic vibrancy. All of your tech plays will get tossed into the fires. We have a unique move in Chinese stocks, likely due to a short squeeze on the reopening trade. Shares of BABA, JD and others are vertical. However, larger capped tech is WEAK and getting weaker.
Biotech is strong because it’s too oversold, which makes for today a very strange tape.
I am long a series of smaller capped risk plays, come in commodities, another in biotech, another in Chicoms, and one more in SHIT retail — hedged via UVIX.
If we collapse lower, the VIX is going to spike.
At the moment, I am 52% cash, with a bias to short more.
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Current time 4:27pm June 8, 2022
Originally posted at 1:13 pm
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The RE closing process as we know it today can and will be thankfully be replaced in a couple years. All these losers (county courthouse drones, etc.) with their hands out will be tossed into the street where they belong.
Title should (will) be on the blockchain. No f’ing title insurance scam. Funds will be escrowed in smart contracts. Owners will deal directly with buyers much more easily and at much lower cost.
e.g. only https://labsgroup.io/about-labs/
small claims court w their crooked judges, bye https://kleros.io/