1/x With our🦥Prince Charming departing on his cruise, the🪟of weakness back at the WofFortune has officially opened...From a level 1 view there is every reason to believe a decline is more likely than usual in this🪟, for 1 the VIX is starting this🪟having triggered a technical
https://twitter.com/jam_croissant/status/1394952227282984972
2/x. Break last weak, 2nd of all the Fed is increasingly floating trial 🎈, about talking about tapering, as it did in the Fed minutes. NTM, Treasury reducing its Gen Acct from $1.6T to < $500B by EOQ & the continued opening of Ndx equity lock ups into EOQ. But...level 2 is
3/x not to be underestimated... sentiment has become exceedingly 🐻’ish, as displayed by HF positioning... I’m sure our 3x weekly 🥐’s & the growing familiarization w/ the🪟’s of weakness is not helping this sentiment either. Pair that offsides positioning, w/ 🚀ing buybacks &
4/x surprising underlying 💪🏼 the last several days from important NDX leadership and a quickly approaching Memorial Day holiday weekend, and it has become clear to me: a watched pot never boils. If we are going to get a decline, the next week would be a good🪟for it. But the🪟
5/x Closes a little early this time around on 5/28, and after a month of sideways action pinned near our 4115 JPMORGAN 🧲, it wouldn’t surprise me to get a low Vol correction in time/price that will likely be disappointing to iVol buyers, & keep us stuck 🧲, a long awaited
6/x kickoff rally above the the 1.5 std dev up of the 20 day, for the next🦵up, increasingly looks likely to kick off as we move into the back half of next week, that is unless the 🐻can take advantage of this short remaining time to strike. Watch margin unit supply & a move back
7/x below our 🧲 could change things quickly w/👸and 🦥 on vacay. OTM Calendar put spreads and short calls underhedged seems to be the correct play for 🐻 exposure going into monday. 👀the action right after the AM print very closely, if there is an opportunity it’ll likely come
8/8 soon after the open. Watch our *** For an opportunity to take a shot. But be💧. Good luck! 🍀
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