Risk Off.
New article of the week: Straight Outta Jackson Hole
Today was exactly the spot to which we had to come risk off on this market and I talked about it in the report on Sunday. Of course, some of you still don’t read it and the ones that do still tend to not pay attention but that’s what gives jobs to all the “trading psychologists” out there so in some sense some of you are doing your part!
We sold off on most names and we should balance here tomorrow - I’ll discuss the rest in the Sunday report so those of you with alligator arms, you’re going to have to trial.
On another note, please stop asking for “performance” on Active-Trader - it’s not a trade call room like most of you degenerates are used too: it’s designed to give you a plan and to teach you how not to be a degenerate.
If you want trade calls/research, then The LongVol Report and AST Alert Portfolio has that. It’s really good so don’t get offended at me calling you a degenerate, it’s just a harsh truth and instead facilitating your addiction I’d like to help it by actually giving you legitimate research and structured trades that take time but are worth it.
Moving on….
AAP 0.00%↑ finally sold the Westpac division for 1.5B to Carlyle - that was expected and it took longer than anticipated but it got done. Bad news is that forward guidance is poor and doesn’t look to hot.
I sold out of it last week (about a $500K position) because of two reasons:
The Price action last 3 months was not “acting right”
I saw that they had DEI nonsense with hiring - as a general rule, whenever that framework is implemented into companies they’re not focusing on what matters: profits.
I talk about this in the article of the week and when I record the show later I’ll expand.
Dan
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