It was only one week ago that I wrote a post called Advantage: Bulls, in which I decried the hopeless situation for the bears. Woe, woe be unto you who dare, as did I, the endless advantages our bullish brethren possess!
Well, if you have even a lick of sense, you know that when the likes of Tim Knight throw his arms up at any possibility the market would ever fall, you should buy every single put option you can find. Because what followed my defeatist and self-pitying post was more than predictable……….
As, too, was volatility, which went from Jeffrey Epstein (remember him?) levels to something much more collegiate:
My long-standing “bullish precious/bearish equities” motto is being chiseled into a large granite mountain at this point, as gold blasts to levels never seen before and makes $5,000 per ounce this week a real possibility…….
…….and silver likewise pushes to lifetime highs, up about 25% in a mere week, and is at the cusp of being a triple-digit metal for the first time.
This was all thanks to a puerile, petulant, dim-witted numbskull and his slavish acolytes who are simultaneously profiting in any way they can from financial opportunities and destroying what used to be a pretty nice country. The world recognizes what’s going on and is deciding that maybe lending money to a failing republic isn’t so swift, which is why bonds are plunging as well.
I am, in spite of my post, fairly well-positioned on the bear side of things. I’ve got about 150% of my funds committed to a variety of short positions and long put positions. Of course, the TACO risk is gigantic this week, since President Ear-That-Sure-Heals-Quickly is highly likely to do a 180 with all this nonsense.
U-Turn or not, the broad path of things is clear and has been telegraphed in this little corner of the web countless times.
Good luck out there today! Should be…………interesting.
