ON GUARD FOR RAPERY!

I am back near sessions highs, +70bps — not because the market cooperated — but because I am a professional and understand the relationship between human emotions and stock price levels.

I am presently hedged via UVIX and SQQQ with a fully long book mostly heavily invested in commodities. We are seeing a commodity rich rally, the sort of rally that we had in the early days of the Ukraine war. Fertilizers, coals, and oils — all up, even ag.

I am not sure if this is a sustainable trend — but it is fund to imagine. I imagine, for example, ALL OF EUROPE, especially Italy, freezing on top of their starvation because Russian supplies have halted due to chicanery.

I feeeeeeel that a blend of SHORT tech and long volatility and commodities IS the winning formula for today. If stocks continue to drag lower and if my profits dissipate more than 10bps, I will increase my short exposure.