Market On Open, Friday 1 August
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Is It All Over?
by Alex King, CEO, Cestrian Capital Research, Inc
The Administration giveth, and the Administration taketh away.
After the April crash, if you had your eyes open, you saw POTUS declare on X and on Truth Social that it was time to buy. And yea verily did that turn out to be correct. This, by the way, is not unusual, so whichever side of the aisle you favor, all you have to do is to work out who has the signal at any point in time, and tune into it. Remember the Covid lows? Right at that point in time, the then-Speaker also declared it was time to buy because, and I quote “we know now that the S&P isn’t going any lower”. Yes she did. On TV. So, as long as you ditch your own personal politics and focus solely on price and who and what drives it, you can do fine.
Today is August 1, and the commercial for what may happen has long been played. We’ll see if the drop currently taking place is a flash crash or a more substantial correction - I don’t know yet, and neither does anyone else - but for now I have some of my underwater hedges starting to come back into the money, and some which are getting less red at least. The trick when these selloffs come along is to not assume that it is the End Of Dayes; as of now, since the dawn of time, every dip has been a dip to buy and most likely this one is no different. So if, like me, you have enjoyed the run up since April but have been layering on some hedges (Inner Circle members get trade disclosure alerts for these in real time, all the time), be sure to not overstay your welcome with them. In a bull market there is nothing more annoying than trapped shorts; if the Market Gods give you an opportunity to realize short gains in a bull environment, well, it’s considered rude to thumb your nose at them.
Here’s the current state of play in the S&P, before we get into it.
So. Let’s get to work.
But before that, this:
REMINDER: ONLY TWO DAYS LEFT TO GET LAUNCH PRICING ON OUR “BIG MONEY CRYPTO” SERVICE
You can learn all about it here.
It’s nothing like anyone else’s crypto coverage.
It really isn’t.
Two days left to lock in the low low price.
Alex King
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