I closed out my shorts at the open, made some coin. Predictably the market went vertical from the open, solidifying my idea that shorts should be closed at every open until that trend changes.
The consensus on Wall Street is we are in a bull market. Even though I am a PERMANENT BEAR, it’s important to conform in order to survive and thrive. As such, I’m long IEP, TLT and ERX now.
I’d love to see mortgage rates go to 15% again. The Fed is likely to hike and since the economy is so strong, one could surmise rates will climb. HOWEVER, that’s all nonsense, since we have over $32T in debt and the world hates our guts. There isn’t a chance in hell rates will be higher today than next year. TLT is a long term hold, but only a trade for me.
Rates will eventually spiral lower, all the way down to 0%.
Up 50bps early going.
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