After this morning’s “insta-dump” of everything, the markets have utterly and completely turned around. That’s not great news for me, but let’s just say I don’t have any regrets about not being super-short (to say nothing of the fact I sold my QQQ puts yesterday). The ES has done the following about-face:
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Once again, I find myself in a position where I worried myself silly all night that I was 125% short the market, fearing what the economic data would do…………..and then the numbers come out, and I wish I was 250% short and scold myself for my timidity.
After the CPI came in at 2.1%, hotter than expected, yields shot up…….