Perhaps you’ll recall this (rather rare) long idea from the 8th:
Slope of Hope Blog Posts
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Besmirched
Feh. I guess the little dip we saw this morning was quickly squished by the powers of the Quad Opex happening today. At least I don’t feel so bad about being relatively light.
As we are waiting for this storm to pass, I’ll point out that some of my favorite charts have suffered some of the strongest assaults, particularly in raw dollar terms. Not a single one is less bearish than it was before, but I gotta tell ya, sitting on my hands during times like this isn’t easy. This is one of the reasons I acquire options with at least three months of life in them. I want tons of time to try to be patient.
Happy to Help!
In my usual self-deprecating style, I pointed out that my scurrying to a 33% cash position and scaling back 50% of my IYR position surely presaged a hard tumble in the market. Well, not quite, but still, the ES and RTY are down double digits and the NQ is down triple digits so……….yer welcome.
