What’s the market doing today? It’s up, of course!
The /ES? Up! The /NQ? Up hundreds of points to never-seen-before highs!
And how about all my short positions? Hey, bull market. Bite me!
Pulling My Shorts Down
I’m Calling It
The semiconductor mega-rally is over. I’ve bought July $500 puts against SMH and have, in a different account, shorted SMH. This has gone CAR-level of silly.
The Republic of Itsnosobad
Happy Friday, everyone. And, as is the tradition on Fridays, the press is in a flurry about peace talks, people flying from here to there, and the possibility that such-and-so will meet with this-and-such.
Look, everyone, it took twenty-one MONTHS for the least nuclear deal to be hammered out over a decade ago, and that was with exceptionally talented parties who were eager to meet steadfastly. This situation is – – different.
In spite of this, the VIX has been steady as a rock all week, trading at pretty much 20.75 more or less a few cents.
Fill ‘Er Up!
Unprecedented Semis
Here is yet another historic milestone in a market packed with them: for the first time in history, the semiconductor index went up seventeen days in a row. Can you imagine what kind of emergency federal actions would be taking place if it had been DOWN seventeen days in a row? But up? No problem!
