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I am mightily irked at myself right now, but I’ll make this into a teachable moment.
I short stocks (as most of you know), and I keep a lovingly-maintained stop-loss order on every single one of them, without fail. Before the market opens each morning, I pause every single one of them, and I wait a minute or two before reactivating those orders. And let me give you a perfect example as to why I do this:
And here we go again. Even though Washington has said repeatedly that it will not accept a “partial” trade deal, equities have roared higher since China has said they would be open to a partial trade deal. I’ve lost count how many times we’ve gone through this charade. Now, listen, I understand Washington could agree to a partial deal, since their words don’t mean crap. But, still, if we take them at their word, why would China’s “capitulation” mean anything? In any case, the algos love it:
