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

We gained +64bps for the session, more than 4% for the week. Markets are now up for the year and look to be steaming towards RECOURD highs. Missing out on the 10% ripper day will haunt me until my last breath. I can see it now, whole family hovering over me — lying to me...Read More