1/x This will be a short daily 🥐...everything from Wed still applies 👇. 🪟of weakness opened 4/12 w/ 4140 *** hit. & Here we are @ 4140 after almost 2 weeks! all things considered, this is a victory for the bulls, considering👸& 🦥 are @ 🏖, & it is a tribute to the power of a
https://twitter.com/jam_croissant/status/1384773074374037504
2/x well FED Gary🦍. This is a textbook correction in⏰. But The🪟’s still open. Whether we get more of a price correction remains to be👀.Remember a🪟is just a🪟.A👸/🦥vacay doesn’t push market⬇️, it removes support & creates vulnerability..but time is running out for the 🐻’s.
3/x A decline to the 20 day for a last minute game of🐔to shake the longs would be an ideal Mon- Wed activity, but unless someone can manage to take away Gary’s🍌🍌 & make him hangry enough to lose control/ start breaking things following the Fed meeting & SoTU...I would expect
4/x more & more well fed Gary 🦍. Which will be hard to battle. Fed meetings are usually the most bullish days of the year unless there is some kind of a surprise policy announcement. Often if a market decline is to happen, it happens the next day. This lines up perfectly w/ the
5/x Biden SOTU that 3/28 evening, so I’d look to own 4/30 IVol for the event to be short pre-event, which despite expansion the last several days,still represents value considering the policy clarity that’ll likely come from the speech as it relates to such critical issues as TAX
6/x (as we got some info today), China 🇨🇳 policy, potential antitrust action, the $2 trillion infrastructure plan, Russia sanctions, Iran nuclear policy, climate, & maybe even crypto... dispersion is still on the menu as well given the likely sector specific moves that will come
7/x off of policy clarity. As we move closer to May, tax selling is a major concern, especially now that there is an added incentive to lock in LT cap gains before rates go up. Watch this market carefully on any decline below the 20 day. Otherwise, the move is to keep covering
8/8 our shorts opportunistically a little more each day w/ the strong intermediate term momentum & well FED Gary preparing for a likely rally to new ATH coming when Vanna returns. That said, Tail Fragility continues to be high despite local iVol being dramatically oversupplied.
9/9 And w/the 20 day not far and skew cheap, it continues to be a no🧠‘er to own the wings. W/Gary oversupplied today is bound to be slow. Good luck!!!🍀
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