The 200K Portfolio was down -$2,700 and the 50K Portfolio was down -$700.
The best way to describe the price action was pump and dump as well as prop and chop. The dip buyers were energized today and the speed of the order book was fast. The market rolled over at the end of the day and we should see more selling before the end of the month. We don't always get what we "should see" and we could very well see a rally into the end of the month. We are setup to trade it either way.
There are two trading days left in the month and we are treading water while we wait for a trend cycle in either direction.
We also go over the commodity trades. Crude Oil was up 4% today. I can imagine a new high in inflation before the end of the year with negative real rates. The Fed Funds rate is 4% below PCE and 6% below CPI.
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