I sure felt one whole hell of a lot better on Wednesday evening than I did on Tuesday evening. I recaptured a good chunk of what was lost on Tuesday. Part of the reason was my outsized position in bonds, which gave back much of their completely-fake-CPI-based gains.
The bears’ last hope for really socking it to the bulls would be a bust on NVDA earnings Tuesday afternoon. I’m not holding out much hope for this, but who knows. Elon is buying NVDA boards hand over fist (although he hates it), and the AI fever clearly hasn’t broken yet. Anwyay, NVDA wound up giving up the entirety of its Tuesday gains and plenty more.
Another big help for me was the fact crude oil did a total U-turn on its Monday/Tuesday gains. I’m hanging on to my SLB and APA puts, which are benefiting.
Below are most of my stock-based positions. The charts still look fantastic, in spite of the insane rally we had to endure on Tuesday.
Simultaneously, the Goldman Sachs/JP Morgan permabull mouthpiece known as Zerohedge has the temerity to suggest that this is what’s coming in the weeks ahead……………
Uh-huh. You and Tom Lee need to get a room, Tyler.
