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I’ll start off with this item: JP Morgan laid out in great detail precisely how likely various CPI results would be this morning and what the consequences of the number would be for equities. Kindly direct your attention to the highlighted portion.
God, this market is annoying. Seriously.
The bulls pushed, and pushed, and pushed things higher, zipping things into the green briefly after the open. What pisses me off is that I actually got stopped out of a few positions – XOP, COP, MTDR – and then, as God intended, everything puked.
In the midst of all the international court of trade nonsense, I overlooked that BBY had their earnings announcement, and it blew up the stock quite nicely. This is a very profitable position, but I’ve tightened up my stop and am just going to keep holding on to the short.
Well. That was something.
After composing my lengthy reaction to the Trump-cannot-tariff ruling that shocked the world yesterday evening, I had a fitful sleep of a few hours, wondering just how devastating the losses would be at the opening bell.
Well, now that the opening bell has transpired, I can share with you the financial destruction I have suffered:
I’m not sure how I could have been clearer. I mentioned it again and again. Some people rolled their eyes. Some wiser souls put their life savings into index puts. If I had any sense, I’d make it a PLATINUM ONLY service. Anyway.
Bear Force One.
Learn it. Know it. Live it.
