What a morning, eh, gang? Jerome Powell lumbered up to the podium and basically gave a history lesson, and the bulls went absolutely ape. The markets exploded higher. I couldn’t help but notice that semiconductors, by way of SMH, represented a very intriguing bearish opportunity at those laughable levels.
I thus plunged into something very unusual for me: the bearish-on-semis triple-leveraged SOXS. I got an excellent price for it, and if the sugar-high of Powell’s nothing-burger can fade off today, I’m excited about this weird position.
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