I finished the sesh +44bps with a long bias, hedged at 16%. For the week, I managed a gain of +1.3% and for my quant +1.9% — which is fantastic when taking into account the Nasdaq is -1.5% and the $IWM -2.5% for September.
The quant, which is a monthly allocation driven solely by the Stocklabs algos, is heavily invested in oil stocks now. We have seen a divergence between tech and oil — which is noteworthy and something to keep an eye on.
I left a net bullish book because of the shenanigans. I am accustomed to them and expect them often. After a week of hell for traders, it would not surprise me in the least to see stocks quickly bust loose to the upside on Monday, only to later fall victim to relentless selling.
We’ve got a fucking head n shoulders happening here. Doom awaits.
The old cock and balls formation. Haven’t seen that in a while but all good things must come to an end.
That Fly is multi-talented!
analysts are professing another year of earnings growth in the US, being 2024. A gradual reversal that is just based on the market’s reversal. Lemmings could run off the cliff anytime, be it war or climate change or you name it.