The 200K Portfolio was up +$400 today and the 50K Portfolio was up +$100 today based on hypothetical results.
Nice gap down shorts as the Nasdaq took out the June 16th lows but then bounced back closing above those lows and within the trading range of the first 30 minutes of the day.
I am still working on a better way to short this market. It is unusual that an all day intra-day (day session) downtrend is so rare. It is rare for every sell off to bounce back so much at the end of the day.
I would not be surprised to see the market rally tomorrow as the liquidity still wants to step in here and take the long side in anticipation of a Fed pivot.
The Feds balance sheet through Wednesday was reduced by $21 billion from the prior Wednesday. The balance sheet is down $31 billion on the month. It will be interesting to see if the balance sheet has a big drop this week since the Fed has committed to reducing their balance sheet by $95 billion per month. With two days left, they need to reduce the balance sheet by $64 billion.
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