Interesting experience just now, my friends: I was fast asleep, and at around 4 in the morning (just minutes ago) I decided to check in how the markets were going. I had been berating myself for lightening up on Friday and, in particular, getting rid of my inverse BTC position. I glanced at the screen, and oh-my-God:
Suffice it to say, my self-flagellation regarding lightening up disappeared instantly. Indeed, the show I did on tastylive aptly mentioned I was “worried” – – well, rightly so!
What’s all this about, then? TACO, of course! Here is the silly ALL CAPS (complete with spelling errors) missive that just went out which has turned financial markets inside out instantly:
Thus, volatility (another form of “worry”) is falling off a cliff.
Listen, folks, let’s keep our heads about us here. Don’t get me wrong, even my “lighter” portfolio is going to take an ass-beating at the open, but the cold fact of the matter is that this is still a fantastic, your-mouth-is-awfully-purty bear market we’ve got in front of us.
I’m going back to bed, but I couldn’t just lay there without sending you good people a message. I might trim here and there, but on the whole, I’m hanging on for this bumpy ride.
