We have some good narratives this morning and I’m here for the bear carnage. I blew out of my tanker / shipping plays at the open because how many missiles do the Houthis have?
I may revisit this trade for sport.
I’m a big fan of oil here, especially with the Middle East cooking. It won’t take much to see oil jimmy its way back to $100.
I have various swords in the fire, +130bps early going. I’m also 44% cash — because who knows what is around the next bend. My overall opinion is bullish and since I’m stubborn — I’ll likely remain this way for the day.
Themes worth exploring: heavily shorted stock, heavily leveraged balance sheets, companies who might be affected by Middle East wars etc.
More details later.
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