1/x A short 🥐 in order to lend a hand to the weary out there tonight❤️.The negative flows in the NDX/ARKK/IGV names as we’ve discussed as the potential source of weakness is giving🦍a real fight for his 🍌...Our fragility & neg flow plays for convexity, funded primo neutral w/
2/x local SPX Vol, has paid off in ♠️. This is why you never 🏊♀️ naked...if the 🌊 is going to go out, this is the beach where it happens... It looks like we are in for a🐔fight again this ⏰ here @ the 1 stdev down of the 20 day on close. Keep choppin’. If it can hold & not close
3/x below for 2 days & the NDX can stabilize, w/ 🦍, 👸, 🦥 all at their 💪🏼’est there’s still reason for optimism... That said, this is a 🪟of 💪🏼 , if we can’t get the support we’d like to get here between now & 5/19, there is a potential fat tail lurking... vanna/Charm 🕰 should
4/5 be 🪄 now that Ivol’s are a bit higher. As discussed ride ‘em on open & close, but look to take profits & fade them as soon as they start to falter. A technical break on close in this🪟, would be reason for concern, as we move out past 5/19 the market becomes even vulnerable,
5/5 w/ fading seasonality & less structural S&P support. 👀 the Doomsday machine closely...There’s 🩸in the 🌊 there. We will have to see if Cathy can fend off the🦈’s with a lil help from Vanna... 👀 sentiment via p/c equity ratios for clues ... be 💦. Good luck!🍀
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