Into the weekend

  A slow drip lower today and I remain with my 1/3 short positio in SPY and almost all cash. One would expect some sort of bounce near the 200 sma on the S&P 500 (right here right now) but that doesnt have to occur into a weekend. We must stay away when things are […]


while structured products desks all over are likely busy with bullish EUR/CHF notes, risk manager minds understand this chart is unsustainable.  Something will give and those who bought the bull structures will once again be left holding the bag.  And so the game goes on…

Morning Thoughts June 1

I just hope at the very least over the course of this year I have managed to keep you out of an all in equities long portfolio I know there were trying times to this thesis but here we are now… This morning’s May employment report (very weak) was just another data point showing to […]

A must read!!

I don’t necessarily subscribe to the entire thesis but a) the man has a stellar track record and b) we must see all sides and respect any potential outcome