I pivoted away from basic materials today because it was a trade, one that was very profitable, but took me out of symmetry with the overall market. I prefer to be in sync with the SPY, only drifting on occasion in order to outperform. So you know, I have mostly onboarded all of the clients...Read More

Apple FUD due to China fears crushed the stock for 4%. We do not own it but many stocks got caught in its wake. In general, the session was fine up until the last hour of weakness. We managed to cling onto gains of roughly 0.12%, crossed against losses in the $SPY of 0.21% and...Read More

The good guys won, once again. I have learned through the crucible of experience to trust markets, especially when behaving poorly. To recap: the CPI came in lighter than expected, which in turn creates an environ where the Fed might just cut more than people originally feared. This had a profound effect on small caps,...Read More

Today’s PPI data came in less than expected, sending futures way up and then right back down by 11am. The hourly data for the market has been extremely predictable, with mornings fading into the afternoon bounce. I track this data inside Stocklabs. Here is what the QQQ has done by the hour since 1/1/25.9-10am -0.04%,...Read More

At the open of trade, we gapped lower with over 700 stocks down more than 5%. It was particularly curative for the overall health of the tape because the vast majority of the carnage was found in the froth, the sordid names that any gentleman of modicum distinction avoids. Nevertheless, we were caught inside of...Read More