Flip Fantasia

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Once again, in the milliseconds after the monthly jobs report hit the wires, algos proved themselves unreliable to stating a correct direction.

After the ridiculous run-up in prices that’s been happening all freakin’ week, it’s nice to see the ES has stalled out. I guess excitement over a deadly viral pandemic can only take you so far.

I remain bullish on precious metals miners and gold itself…….

…….as well as bonds……..

I came into the day quite aggressively positioned, with 48 shorts, 2 longs (GLD, TLT) and 217% commitment. The extraordinary strength in the jobs market was a powerful story when stocks were relatively cheap, but it seems to be having a dampening effect now.

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