Welcome, Slopers, to both the last day of the year and, ipso facto, the last trading day of the year. It will be a full trading day, because God knows that no one celebrates New Year’s Eve, whereas we’re already gearing up for the new Juneteenth holiday, at which time all markets will be completely closed.
Last night’s hard tumble has, by federal statute, been undone, and we are precipitously poised beneath a very clean topping patter on the /ES on a minute bar basis.
The only asset about which I am enthusiastically bullish is gold and, God bless it, it’s off to a pretty good start. May 2022 be a dynamite year for gold, people, and mysteriously form a pointy spike which is thrust into Jerome Powell’s soft portions!
My largest position is puts on the XOP, since I am loudly bearish on energy. This looks to be bleeding out nicely.
Overly sentimental soul that I am, surely this weekend I’ll share thoughts about the year past and that which is forthcoming. Thank you for being here, and I’ll have more to say later.
