Tue Nov 15
As I mentioned in the last post, I am leaning bullish. PPI came in a bit better than expected this morning. CPI while still high, appears to be stalling. The Fed will likely hike another 50 basis points in Dec. Maybe pause after that or one more small hike. Now we get to stumble along while we wait for the past hikes to filter into the economy. While I think the short term looks slightly positive (equity-wise), I am still negative longer term.
I’m selling put spreads on EEM, SMH, and TQQQ. These are credit spreads (hence bullish). Spreads by definition are not the big winners but they can pay light bills.
Good trading!
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