Pre-market Trump announced his intention to slap 25% tariffs on Apple if they do not bring back iPhone production into the US. Then he followed up with a EU is treating us badly tweet and recommended 50% tariffs to go effective June 1st. On this news, stocks tanked by 2%. But I think we understand...Read More

The SPY shed 162bps, Nasdaq 142bps, the Russell 2000 lost 280bps, and we shed ~125bps — after a 20yr bond auction went awry this afternoon. It was all going so wonderfully, up until that point and were met with a 75bps candle from hell.Is it important? Yes and No.The 20yr isn’t really relevant but what...Read More

This is the evergreen question that all traders and investors want answered, at all times. Is this rally for real or temporary? If temporary, are we going to retest the lows and feel our stomachs churn with rising levels of cortisol, wondering if the next 1987, 2000, 2008 is around the bend? These events are...Read More

Markets were supposed to reel lower today, amidst panic due the downgrade by Moody’s. But instead of all that happening, nothing happened. I was mentally prepared to lose 150bps today, but instead closed FLAT. This is the perfect consolidation day, massively frustrating for the bears, which should lead to higher prices tomorrow. I shifted things...Read More

There are two precedents for this happening, the first was in 2011 amidst the European debt crisis. The S&P downgrade of 2011 was the first of its kind and shook markets to its core — sending it lower by 6.6%. Bear in mind, the credit crisis was fresh on everyone’s mind and at the time...Read More