Today was the first day in over a month that we got a nice downdraft. That is, we managed to actually bang out a big black candle. My God, it was refreshing.
I have been loaded to the teeth with short positions, and I intend to stick with them until we can get the VIX back up to about 21 or so. My view of the market is neatly-expressed by the Dow Jones Composite, shown below. We’re currently coming off a “slightly lower-high”, tinted in teal, just as we’ve done repeatedly over the past couple of years. Observe the past instances I’ve tinted:
Of course, the biggest event this month (nuclear armageddon notwithstanding) is going to be the announcement and press conference by that disgusting albino troll next Wednesday. We’ll see what the deceitful bile she vomits out of her tiny lipsticked pig-mouth does for the “markets”. Until then, we can enjoy the weakness. Godspeed to you.