Lads, LadiesWe are going to be all right. What a wild session. We were positioned smartly, at least I thought so, with 6.5% TZA, 10.5% old man stocks, 15% cash and lots of solid financials. At the onset of trade this morning, they treated the finnies as if they were AI plays. We had 10%+...Read More

Markets got routed into the afternoon after Trump, once again, reminded us of his big beautiful tariffs, lighting an absolute fire to the NASDAQ, as it sunk lower by 2.64%, the SPY -1.7%. Thanks to some derisking and TZA hedge, we managed to lose 1.36%.The other side of the risk spectrum was high beta stocks,...Read More

At this point in the economic cycle, investors seem much more concerned with growth than AI, lending credence to this narrative is how this morning’s rally dissipated once today’s ISM data came out a little worse than expected. The net result was bond yields up and stocks soft. Altanta’s GDPNOW also revised their GDP estimate...Read More

Atlanta’s GDPNOW has revised its GDP estimates to contract by 1.5% for Q1 2025, a major revision downward, based on waning consumer demand/Trump policies. The market is less interested in DeepSeek now, more focused on whether or not the economy can keep chugging forward in light of the headwinds. Here is GDPNOW’s forecasts and results....Read More

Today we saw a late day ripper led by all of the right stocks and I found it to be extremely conducive with potential continuation on Monday. It was looking very dicey early going and we placed ~10% hedges on to protect against a flushout. I want to emphasize how close I felt we were...Read More