A broad based rally, not without murderholes however. On Friday we had software stocks knifing down and today midcap AI names took to the bottle and drunk themselves to sleep. Nevertheless, we managed gains of +106bps, crossed against +63bps for the SPY. This is not by accident, since we positioned in a higher alpha sleeve...Read More

Sharply higher prices in oil stocks tonight, after Trump is claiming dominion over Venezuelan oil. XOM is +6%. We are long. In addition to big oil, we are seeing very sharp moves in downstreams and exploration. The idea, naturally, is new American clay in S. America with vast resources to tap into.We are also seeing...Read More