Only the gods know why the market is ripping higher. Unlike yesterday, this rally looks like it can stick. All of the leaders are up and oil is recovering. The 10yr is once again ticking up so we are okay with higher rates and higher stocks because who’s gonna stop us?
This is my last day for August since I depart for Boston tomorrow. I doubt I’ll trade from the plane and I doubt I should trade whilst on the move in Boston — but never say never.
I am only holding two stocks now: BTU at 5% and GOOGL at 10%, the rest cash. I’m up 62bps for the session and +3.5% for August.
Heading into September, my bias is for a collapse. Then again, when am I not looking for one? Nevertheless, I never let me feeeeeelings or thoughts get in the way of a trade, so I’ll position wherever the fuck the market demands.
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ESG and other DNC/WEF/Marxist initiatives have been growing due to easy money for 12 years. Now easy money is trying its hardest to end, it won’t be a benign transition and all outcomes are difficult in any case. Hard times brings pragmatism at the expense of idealism. Refreshing.