Market Fades Fed Cuts

The predictable nature of today cannot be overstated. Even so, I closed DOWN 12bps, due to my overall bullish outlook for stocks. I am, however, traveling tomorrow so we might crash into the floorboards, and perhaps a bit lower. But with many rates cuts coming down the pipe, it’s only a matter of time when this risk appetite business starts to overheat.

I allocated into the close, which contributed to the small drawdown. I was up about 65bps at session highs; but it was never my intent to position short, as I believe it to be ridiculous, given the circumstances.

But markets will do what they do on a day to day basis and perhaps we do swan dive lower into the open tomorrow, as all of you fucking idiot morons panic out of your positions because the market didn’t jerk you off proper today.