Are we “pivotless”????

Sat Aug 27

Say it ain’t so! I made a decent long S&P call back on Jul 14 (see prior post). That countertrend trade picked up over a 40% return. That should have led to a nice short but along came the FOMC. An army of people who have never experienced anything except government handouts incorrectly interpreted Powell’s comments from the meeting. They decided an early Fed policy pivot was front and center. The point is that counter trades could be more frequent and far more profitable due to this crowd. Unfortunately, they are batting with one hand tied behind their back due to a lack of experience.

On a separate note, the USO 74 calls expired yesterday for a 3.7% two-week profit. I continue to like energy and am patiently waiting for metals. When gold finally moves, the miners could be a literal gold mine (pun intended).

Good trading!