Since the line got breached, let’s change the subject. This is truly amazing stuff:

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Since the line got breached, let’s change the subject. This is truly amazing stuff:

My bearish positions are taking care of themselves, so I’m going to go on a mini-rant for a moment.
From time to time, I’ve mentioned one of my hundreds of pet peeves is the outsized efforts of advertisers to diversify. I realize I am probably one of the most left-wing people on Slope, but in spite of that I’ll go on record as saying my being irked by these forced mash-ups of races doesn’t come from racism, but realism.
I present to you, from my morning inbox, a snippet from an item that Hilton Hotels sent me, encouraging me to use their Hilton App to check into my room this Friday night.

Two of my big victories today are in the form of banks. I’ve sold 25% of the puts just because the profits are so outsized and I want to take some off the table. These were brand new positions yesterday, and they both threw off 150% gains overnight. Dumb luck, but I’ll cheerfully take it.

Given the rash of cancellations I saw last Friday, it should have been clear we had peaked. In any case, I’m delighted to see not only the bulls getting zapped yesterday, but for the bleeding to continue. Here’s your overnight market update.
