Somniferous

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

I was telling my youngest child how cool it was to be in such a different time zone, since the family could have my full attention during the daytime and I could work at night. “But when are you going to sleep?” Hmm. I honestly hadn’t thought of that.

Liquidity moves markets!

Follow the money. Find the profits! 

Anyway, in the overnight session, as pleased as I was to see the ES down 13 points or so, I figured “this is all we’re gonna get”, since we were approaching a support level. (Take note of how the fabled land of 3,000+ on the S&P swiftly faded).

True to form, the ES rocketed over 20 points based on – – what else? – – vague mutterings around China trade talks.

Still, I’ve had two good profitable days so far this week. And I continue to find the chart below fascinating, since it guarantees 100% (assuming history is a reliable guide) that a recession is right around the corner.

For my own positioning, I remain fairly aggressive – – 175% committed and 50 individual shorts. Of course, this week is all about Powell, Powell, and more Powell, but I’m still feeling pretty good about our prospects.

Time for a bit of shuteye, my friends, but I’ll be back!

Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

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