It’s good to be done with my short trip and be back on the ground where I belong in my beloved Palo Alto. Hopefully I won’t be anywhere near an airport (as a passenger, at least) for many months to come. It was terribly frustrating to be in the sky during the market day with Wi-Fi that was worse than a 110 baud modem from the early 1980s, but considering how the /YM absolutely REFUSES to make up its mind about which way it wants to go, it seems I didn’t miss much.
Happily, I wasn’t stopped out of a single position. I entered the day with 25 shorts, and I ended the day (while being almost utterly offline) with the exact same positions and the exact same stop-loss levels. It was a mixed bag, but on the whole, my portfolio was worth more at the end of the day, which is what it’s really all about.
Over the past week, it seems that “risk off” has gently tiptoed back onto the scene. Bitcoin, for instance, the apotheosis of madcap risk-taking, has had $12,000 shaved off its nether regions in a steady downbeat.
And the NASDAQ, which had burst to levels – – as the POTUS might say – – the likes of which no one has ever seen before – – completely lost its mojo and gave it back just as quickly.
It seems, then, that the next “event” folks are awaiting is the chap below who is about to make his last brouhaha in lovely Jackson Hole in a matter of hours. Cross everything you’ve got two of, people!
