The Week Ahead
Volume 76 - Where to hide for year end
The most wasted day of all is that on which we have not laughed.
-- Nicolas Chamfort
I hope you all have had a lovely weekend. I had a quiet one after such an incredible week.
Fury vs Ngannou - great fight. England vs India - amazing cricket. City vs United - men vs boys.
Macro-heavy week to come including QRA, Payrolls and FOMC so there is much to discuss.
Still holding ES1 short from 4511.25 with an extremely low net. Another hedge I shared with subscribers which was a Nov 4200/4300 SPX spread that I bought for 13, I/we began offloading at ~65.
The Usual Charts
Single Stock, Index & Vol
I think most of you will be surprised by my stance for the coming week, but let’s start with some earnings season facts…
We are now over the halfway mark (59% of mkt cap reported) and 56% of companies have beaten estimates by >1SD…