9/13 Recap. What Bloodbath? Twitter Was Green Today!!!!

Well, today was the day I’ve been preparing you all for when I said I was hiding in Twitter for the time being. Twitter was green today while the market was destroyed. As I said in yesterday’s post, the consensus was that inflation would be down, which was odd because Europe surprised to the upside recently. I think we’re slowly coming to the realization that we’re going to have an uglier market with higher rates for longer than anticipated. Whatever comes our way, I’m sure we will navigate it better than most buy and hold investors. As I’ve said, right now, the most important thing is to stay alive and remain nimble hence my massive allocation to Twitter. I knew this asset was going to trade outside the gravitational forces of the market, and on up days like yesterday it looks silly because its red, but then days like today come around and you thank God for Twitter stock. We still have monthly OPEX friday and then Powell next week where Nomura today came out saying 100 BPS hike was incoming. Just too many chaotic things can happen in the next 6-7 sessions which is why I’ve been begging all of you to lighten up. I even said in my saturday trade of the week post

Let’s look at the charts

What you will notice is the SPY closed below the uptrend from the June lows, that’s not ideal, now we did this a couple days back and snapped right back, but this time feels different, keep an eye on it. You can see below, the second chart is just a zoomed in look at a shorter timeframe. To me, this doesn’t scream anything bullish breaking a 3 month uptrend, but to each their own, that’s what makes a market.

Today’s Unusual Options Activity & What Stood Out

I think now more than ever its important to note the levels funds are selling puts at, those are levels where they don’t mind going long, look for the names they’re trying to bottom tick here. This list below daily is vital going forward as we get a closer look at where big money is positioning.