You might expect me to be pissy and cranky today because of this:
Liquidity moves markets!Follow the money. Find the profits!
However, I’m not. I had a good, solid day, a gain of 2%. Part of it was due to a couple of home runs (FDX and MDR shorts) and another part was that most of my picks were weak, in spite of the absolutely laughable government-led buy-fest in stocks. I mean, for the love of God, just look at the NQ:
Anyway, I feel good about the day, not only because I had a nice profit, but also because the goddamned Fed day is behind us, which is always a point of tension.
Interestingly, the banks rallied up to their price gap. I’d love to see things sink away from here. This was a nearly pixel-perfect push.
And check out volatility! For a brief while, Reality was actually allowed to seep into the market, but the Fed cannot permit its population of snowflakes to suffer, so massive intervention took place and slapped the VIX from nearly 16 all the way back down almost to the sub-teens. Wow!
As the day wraps up, I had 60 short positions (no ETFs) and a commitment level of about 175%. Another victory for SlopeCharts!
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