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

Today was a very mixed session, with high beta stocks -1.5% for the session, yet low beta +1.8%. This led to a flat QQQ but +46bps for the SPY. We closed about exactly flat. A great man once said, “anyone can make or lose money in a given day — but can you close flat?”Our...Read More

Greetings —The SMH is +17.3% for the month of May and by all measures we are a bit extended here. The problem with attempting to time the top in a bull run is we aren’t privy to future events, just yet. Due to the fact I was traveling all day, I raised a significant amount...Read More