Week of November 18

6000 SPX, do you chase it?

Recap of last week

Apologies for the late post this week, had to go to the ER for a minor surgery and now back at home.

Everyone and their mom screaming to risk off before the election last week, the consensus was heavily tilted towards a drawn out contested election that would drag on for weeks Gore-Bush style.

We said fade that shit. Go risk on and get as long as you can as the crowd is nearly always wrong. At 5728 SPX we got stupid almost irresponsibly (almost) long and then the SPX went on to have the best week all year. If you got were bearish last week, you didnt get unlucky or something, you just didn’t or weren’t able to see what the flows were saying. Last week was not a week to miss if you want to be an elite trader, it was classic FUD, where newer more inexperienced traders are scared off while the battle hardened experienced guys leave with shit tons of money.

It really doesn’t get better than last week, and if you weren’t long you were wrong. If you really want to make it as a trader you can’t miss big inflection points.

We were ALL IN before the election, many fell for the head-fake on taking off risk before the day of the election calling for a drawn out contested affair. It’s so hard to really succeed as a trader because you have so many people who dont know what they are doing who are the most local. I saw most of the big furus preaching risk-off and calling to add at 5500-5600 one election night. Prices we never came close to sniffing.

Our whole room banked huge off this move and pretty much made our entire Christmas. If you missed it, how are you going to make sure that doesn’t happen again next time?

Next move for markets