Maybe today’s the day that tips the balance from confident bears to confident bulls. It’s what we need to reset the pendullum to get on with this drop. I was short from 1098 last night to 1089 this morning, where I reversed the position (which makes me flat, on account of a healthy long-term put portfolio):
Source: Interactive Brokers
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I also went LONG some silver this AM, since it’s tested and held at the $16 level. Would be nice to see some risk appetite come back to gold and silver and to see some more decline in the dollar. I’m the biggest dollar bull anywhere, but a continued ascent from here without more of a set-back just feels too easy.
So much for that! I was promptly stopped out of ES and SI and just let my puts run.
This is the most powerful move down yet, so it’s likely not over.
Yes indeed. Glad you had stops so close.
Starting to hedge up again. This decline is ramping out… a “smooth landing” formation.