We got the sell off we were supposed to get yesterday today. The silver lining is we traded substantially off the lows, but still a rough session. We traded down -157bps crossed against SPY of -90. We had particular difficulties due to our foreign cadre of holdings, semis and materials.The SMH traded down 3.7%, XME...Read More

NASDAQ futs were -500 when I went to sleep, after reporting all of the wonderful news. It looked like oil would jimmy higher, but all else fall by the wayside. It turns out, as per usual, markets don’t really mind war, not one bit. But having said that and before we celebrate in a most...Read More

We are in a familiar situation, aren’t we? America has been at war for as long as I can remember, always for a different reason and it always appears to be the worst war ever…until the next one. The most frustrating part about these incessant wars is our lack of agency as a people, seemingly...Read More

I have company over from NYC and Mrs. Fly booked us tickets to see Scream, so this will be brief. I have much to discuss and will do so this weekend, review the month — talk about optimization. We shed 59bps against the SPY -48bps, ended up positive for the month, crossed against both the...Read More

We have ourselves a retarded tape here, where NVDA trading 15x next year’s EPS drops 5.5% on stellar results, to make way for the alluring consumer staples trading at 35x earnings with zero growth or any hope of some. The pervasive malice of fear and/or HFT assisted rigged tape enjoys to see stocks trade down,...Read More