Current positioning: My short-term trading account is short the S&P, long T-Notes, and long Yen. S&P futures traded at record highs on Wednesday but fell…

Back in the saddle again An apology: I have been unable to post the Trading Desk Notes for the past two days due to a…

THIS IS NOT A DRILL It was a hectic week in the markets, but two events were especially significant: 1) The spot S&P traded to…

Rising bond yields are weighing on the stock market but have boosted the US dollar 30-year Treasury yields hit a 15-month high of 5% following…

Will the stock market's "Trump Bump" be sustained? The S&P sold off ahead of the November 5th election, rallied on election day (circle on the…

Animal Spirits experience an Icarus Moment as the adrenaline rush from Trump's election victory fades. The NAZ rallied ~28% from early August lows to this…

What would a turning point in Irrational Exuberance look like? Well, for a start: Some analysts say that retail is the most bullish ever. I…

Tech stocks led the indices higher this week. AAPL hit new record highs, up ~11% in a month and ~50% in eight months. TSLA had…