Yields Soar; Stocks Collapse

I was in the bed late into the afternoon, trying to recover from some sort of cold. When I get sick, I’m pretty terrible and take a long time to recover. After I got up, I walked the fucking dogs in the cold rain and then Mrs Fly decided it’d be best to give them a bathe — so I helped with that too. I help people when they need it. That seems to be my detail in life, as I am going to help you now.

BE CONCERNED.

All of the bullish praise I’ve given the market can go out the window with a blink of an eye, a snap of the finger. The US 10yr is now +12bps. Normally, I’d just say “it’s over” load up on $TZA and $UVIX and tell you to get your last will and testament in order for succession purposes. But I am trying to appease the bulls here by giving the market a little time to correct these measures.

Surely the market cannot be serious about inflation making another foray into the economy, right?

As for me, I hadn’t done anything but cleave out my losers about an hour ago. Only now am I being proactive, buying a little of this and a little of that — specifically TZA and some longs above $200 in price. I’m down 37bps for the session, which isn’t too bad.

I might take some more extreme measures into the close, or not. I haven’t decided the level of risk I want to take yet — but know that I must do everything possible to avoid giving up too much.