Kim (Jong Un) Got You Down?
Nuclear war… Crazy psychopaths… It looks a little scary at the moment.
From a purely market cycle standpoint this is nothing more than the seasonal pull-back going into September. They just can’t randomly pull the market back without a reason, right?
Enter: THE KIM!
He’s crazy, he’s isolated, and he has mother fuckin’ nukes! He’s almost as scary as the big bad Taliban and their “nukes in a backpack” threat. Either way, it’s the media spewing fear at it’s best. Let’s give them all a round of applause for such a great production.
What are we doing? We have a few juicy short positions going into September. We’ve offloaded most of the long positions and are going to sit back, grab some popcorn and watch the fireworks.
The charts have been telling the story of momentum deterioration for a few weeks now, but with the relentless euphoria almost made us second guess ourselves. Thank god for the charts and market internals.
There will be some extremely juicy bullish opportunities on the other side of all of this chaos.
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