🖼 Daily Technical Picture 📈
➤ The United Nations (UN) is meant to save humanity from itself. I guess a floundering equity market does meet that remit especially with rumours of Credit Suisse troubles. Also, think of the millions of Baby Boomers who are retiring every day. They need to sell off their risky assets (i.e. equity portfolios) to buy safer alternatives like bonds for their retirement. We certainly don't need the richest generation in history begging for government handouts. 4% interest rates look pretty decent especially when the inflation fight is won.
➤ The resulting short squeeze was quite breathtaking. Shorts did have an opportunity to take down their risk when the rally ceased momentarily intraday, but I'm guessing, many didn't or even added to their positions. Lesson: Don't fight the UN.
➤ This squeeze seems to have some more juice left. The resistance level is all the way up at 393 for the S&P500/SPY. The VIX has dropped below my panic level of 30. This may continue to drop until we get a sizeable correction.
➤ My current exposure is 0%. I got out too early but IMHO it was still the right decision at the time. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Make a donation to the various UN programmes since they saved your bacon.
➤ The United Nations (UN) is meant to save humanity from itself. I guess a floundering equity market does meet that remit especially with rumours of Credit Suisse troubles. Also, think of the millions of Baby Boomers who are retiring every day. They need to sell off their risky assets (i.e. equity portfolios) to buy safer alternatives like bonds for their retirement. We certainly don't need the richest generation in history begging for government handouts. 4% interest rates look pretty decent especially when the inflation fight is won.
➤ The resulting short squeeze was quite breathtaking. Shorts did have an opportunity to take down their risk when the rally ceased momentarily intraday, but I'm guessing, many didn't or even added to their positions. Lesson: Don't fight the UN.
➤ This squeeze seems to have some more juice left. The resistance level is all the way up at 393 for the S&P500/SPY. The VIX has dropped below my panic level of 30. This may continue to drop until we get a sizeable correction.
➤ My current exposure is 0%. I got out too early but IMHO it was still the right decision at the time. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Make a donation to the various UN programmes since they saved your bacon.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
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Not Investment Advice
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice