When looking at the charts this morning, it seemed like another grim day for the bears. The only bright spot, Schwab (SCHW) was already starting to strengthen. After a raft of economic data tumbled in, delighting the bulls into an antique-shopping, hair-dressing frenzy, everything fell apart, piece by piece, and step by step, throughout the entire day. It was a lovely sight.
I actually took advantage of the morning strength to deploy the last of my trading capital, so I am “all in” with twelve different bearish positions (all January puts). Hopefully that traitorous snake Jerome Powell won’t poop in my cereal tomorrow morning. All I can say is that today really worked out tremendously, and I’m delighted to see a portfolio of solidly profitable positions yet again.
