As rumors begin to swirl about travel plans, airline tickets, and market correlations, the market is rather directionless this morning, at least retaining the drop on the /ES from yesterday, even with the big news of the massive wealth transfer from the poor to the rich having been approved by the House led by the nebbish Mike Johnson.
In the midst of this, Bitcoin is muscling to lifetime highs. I’m honestly beginning to teeter on this thing, folks. I’ve been pushed by some many trusted friends to buy BTC, the day might just come that I break down and do it. That’ll be the top!
My main focus remains on energy shorts, neatly summarized by the XOP below. I have 32 positions now, many of them energy related.
The bottom line is that, now that Trump’s laughable trade war debacle is behind us, we can short freely again, zeroing in within a stock picker’s market on the most absurdly overpriced stocks and profiting from their demise. The longer-term view of /ES is compelling.
Keep in mind the history of Bear Force One. Long-time readers understand what’s ahead. And it is in the humble opinion of this narrator that this is not just “Something That Happened.” This cannot be “One of those things…” This, please, cannot be that. And for what I would like to say, I can’t. This was not just a matter of chance. No. These strange things happen all the time.
