As expected, the FOMC did nothing, alluded to worsening conditions due to tariffs and more or less said they cannot cut rates until the tariff business is settled. On that news, I saw some analysts push back their estimates for Fed cuts deep into the second half of the year. Surprisingly, the US 10yr declined...Read More

Good day —The market was fine up until the last two minutes of trade — where money was stolen from us in the most indecorous fashion. I am sure regulators will red flag this post due to the wording; but the context in which I speak of is a 30bps drop in the final two...Read More

Markets opened lower and then rallied hard into there afternoon and then just petered out on very light volume, -45% over the past 30 days. The SPY dropped 61bps, we dropped by ~42bps, whilst increasing some positions and also throwing on a 3% SQQQ hedge for moderate protection.The trend is up, for now, so I...Read More

Markets went up for a 9th straight session on Friday and we produced gains of 92bps, upping exposure again to ~65%. What gets us back to 100% long? I am anticipating a deal to be made with China, but frankly lack the confidence in this administration to get it done in a timely manner. It...Read More

We must of course be vigilant and on the lookout for trap doors. Early this morning we were gifted with some nice gains, so I took them and reduced exposure to 53%, only making one purchase for the session and that was FANG — based off tensions in Iran. Something to consider: the XLE was...Read More