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Man, oh man. Just read this. And keep in mind, THIS IS DURING A BULL MARKET. Can you IMAGINE these clowns when the wipeout finally hits? It’s going to be wall-to-wall bankruptcies. The boldfaced text is the only modification I’ve made to the original post.
The segment’s title might also read “Another Week, Status Unchanged”, as it has been for so long now. That status targets “to or through the election” [for the broad bull rally], as it has all year long (with a few caution points along the way).
I’d like to go back to one of my favorite charts illustrating the macro situation of 2024. While some are giddy (the casual public “playing” a stock market that always goes up, eventually), some are pissed (those who have staked their marketing schemes, and thus their reputations, on a perma-bearish view) and some are bewildered (mainstream investment houses retooling their outlooks in lagging fashion with every interim macro event/turn), we simply follow our guides, like the 2 year Treasury yield’s divergence to the (Fed proxy) 3 month T-bill yield, which is now finally starting to adjust to the divergence, as expected.
(more…)As most of you know, the vibe over at /wsb is pretty much that of a bunch of degenerate gamblers, but some posts really take the cake. I offer you this beauty:
Lord, what a brutal morning, huh? I’ve been trying to focus on the positive, which is (1) I was still at 35% cash (2) umm, let’s see, I don’t have cancer of the eyeballs.
I’ve made precious little changes to my portfolio, however, but I wanted to walk through those alterations. First, with a heavy heart, I got out of my EFA puts (January expiration). Candidly, I bet this chart ultimately works out fantastically, but I really needed to trim risk, so I ditched it.
