As horrid as 2024 has been for the bears, well-placed short bets have been going very well lately. This is in spite of the blowtorch of asset price gains that have been happening on a daily basis, such as the ceaseless ascent of tech stocks, represented by the NQ……….
……to say nothing of the DOUBLING of the price of Bitcoin only since August 5th.
Still, the bull market, which is in its 15th year since it started on March 9th, 2009, is looking pretty raspy right now, as even the /ES is starting to show signs of exhaustion at these jaw-dropping levels.
I continue to hold faith that the likes of NVDA will help lead the way lower, particularly now that its beautiful H&S top is complete.
Of course, my own favorite top is specific to a certain country fund, namely EWZ, which is my largest position and continues to do very well. And we know precisely whom to thank for that.
