The wall of worry begins to crumble
How quickly things can change.
On the eve of a very important November employment report, the markets took off
out of the gate on Thursday morning and barely looked back, leaving anyone with
a short position–including yours truly–scrambling to once again get out of the
way.
For now, I’m still a bit skeptical of this move, and continue
to hold some long-dated index puts. But for the most part, I’m back to an all
cash position in the trading accounts, waiting for confirmation before I get
all-out bullish again.
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