It's so nice to be back home at my normal "trading desk". I like my fast wifi and comfortable desk. At the lake house last week, I was on a leg-less couch - just off of the floor - with my main computer perched on a dining chair and my secondary monitor crowded on a small table with my coffee and notebook. By lunchtime each day, I was sore from the strange position and livid at the slow internet speed. The house there has the fastest wifi available - 24mpbs! Rural America is still so much different from the suburbs! We have a mid-level internet speed here in the Chicago suburbs and regularly see speeds approaching 250mbps!
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Yesterday was technically an up day, but it sure felt like a down day. We opened at the highs and had a few selloffs throughout the day. But volume on the rallies was low and it never felt like rallies had legs. I had a good day, which we know usually is a red day event too.
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1) America, lead by Donald Trump, has done horribly against the pandemic.
2) Performance and wildness by day of the week - 2020:
3) CEO business outlook vs GDP:
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I got my net long exposure down from ~10% long to ~0% long. To keep my gross exposure as limited as possible, I sold GOOGL and covered my UUP short. A fresh short on the banks and QQQ could add some excitement! I feel good about my positioning as we wait to see which direction the next leg of the market will be.
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