Short ES @ 4118

Sun Jul 31 6pm PST

UPRO options are almost worthless. They cost $165/option. Cheap way to test the market. Tight stops on the ES. The rally came from liquidity on the sidelines. Nothing has changed. The Fed can’t affort to ease. And if they do, get ready for the short of the century. Long rates will be a battering ram until inflation comes down. Just because legions of folks can’t imagine a day without the Fed put, doesn’t mean it is still here.

Good trading!