Could this rally be over already? Seems very possible to me. Yesterday I dipped my toe back in on the short side and today I plan to get more aggressive.
The Fed is running out of ammunition. I'm wary of getting too excited ahead of the next rate cut (Tuesday) but they are starting to lose their grip. Every action they have taken seems to be less and less convincing to market participants. At some point the Fed loses all credibility. We are nearing that point.
I have more short ideas than I care to count with only a small handful of potential longs. At the end of the day I have to trade what the market gives me.
Last night after viewing just a portion of my watchlist I decided it was time to get short again. This morning the futures are down hard making things a bit tricky. I'll play it by ear but my intention is to put money to work.
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