Quite a day so far! As I am typing this, the SPY is down 1/10th of a percent, the QQQ is up about 3/10th of a percent, but my all-short portfolio is up 1.4%. I’ve got a variety of energy shorts, and I am watching this trendline with great interest to see if it breaks:
A failure of this level would be pretty significant. Take a look at the much longer-term continuous crude oil contract, and you can see how vulnerable the energy market is right now:
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- Just The Facts, April 10
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