The summer of SAAS you all enjoyed is fast coming to an end. The Champagne is getting stale and the cocaine is losing its potency. The ribald gains you’ve enjoyed will soon be paired with a dagger to the eye socket.
The war in the Ukraine is getting worse…for NATO.
The bitter coldness of winter is just around the bend, threatening the existence of the poors in Germany.
The artificial run down of oil, thanks to the release of the SPR, will not last and America, fat lazy and stupid, will be left without reserves and oil will be $150 bbl.
I positioned bearish into the close, long some oils and defensive stocks — but shed 23bps thanks to an errant WEBR trade that spilled over into losses.
You have enjoyed yourselves the past month or so, almost feeling as if the bear market had ended. You were happy, slovenly, and comforted by gains. All of that, Sir, is about to end and with it comes loss, regret, and tragedy.
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