Week of June 1

Time to start thinking about Summer

Recap of last week

Last week we bought the low of the entire week. Again. For the fourth week in a row. We took 1.25 points of MAE, and the trade went for 100 points.

No need to spend 8 hours a week watching orderflow, no need to count invidividual barrels crossing the strait of hormuz, no need to follow 10 different Iranian newspapers for headlines.

The consensus now in markets is we’re in a bubble. I disagree. I think we are early in the rally and will continue to buy dips in ES like we do every week. In fact actively looking for more long exposure via calls.

Next move for markets