Happy Thursday, everyone. Well, in this chaotic world, I see at least Congress is going to become operational again. What a relief, considering all the important work they do. Mike Johnson has been voted Speaker of the House, edging out other candidates Bob Brown, David Smith, and John Doe.
As for my own world, the financial markets, I am absolutely thrilled to seeing the core failures we are witnessing, flying directly in the face of permabull shill Zerohedge’s parroting of Goldman Sachs and JP Morgan’s insistence that seasonality, seasonality, seasonality, and seasonality were four great reasons to buy equities with abandon. As of this moment, the /ES has broken its Fibonacci support.
The NASDAQ futures did the same thing yesterday, as I screeched about already.
And the Russell, bless it, got ahead of everyone by failing last week.
Even the lifeblood of murderous thug Mohammed bin Salman Al Saud, crude oil, has finally turned tail. Assets as a whole are melting, as God intended.
I am entering into the trading day with a mere 2.2% cash and 21 different bearish positions. 20 of these are puts that expire in 2024 and 2025, and 1 of them is aggressive, inasmuch as it expires in a mere 11 days and are puts based on QQQ. The only wart on this supermodel’s face is my single NOW put, whose fate I’ll decide after the opening bell.
Oh, and we’ve got some news forthcoming…………
