Another fun intraday move with the 0DTE guys ramping into 427k JAN25 SPYs on the beloved 400 line!
- CHINA – it’s all #timestamped so you can see that all I did on red in the morning was cover my US Shorts (XLK, AMZN, etc.) and buy-MORE of one of our Top New 2023 Asset Allocations on red (Long China via KWEB and EWH, which you could see me buying incrementally in the Macro Pro product in the morning); Hong Kong (EWH) was up big +2.4% last night and those 2 positions are now both in my Top 10 Allocations (and not many people ask me about them!)
- USD – in my Top 3 Asset Allocations are Gold and USD. On USD, I am going to start to re-gross here today after taking the position down to 3% prior to this consolidation/correction (which has largely been a Euro and Yen move); booking-SOME gains in Precious Metals (sent out the sell-SOME Silver on green signal yest) and adding to USD is another way to think about how I am re-allocating inside my Top 10 Allocations
- VIX – hello Dr. Zero (0DTE) and another look at VIX < 19! Yep. That’s how the flow of this epic Zero Days to Expiration Bubble plays out. Dealers have to sell and suppress very short-term Vol and it drives inexperienced short-selling US Bears bat$hit crazy because some of them just won’t trade The Chop Bucket as aggressively as I have – you know what to do with VIX < 19 during #Quad4 at this point, I hope!
Immediate-term @Hedgeye Risk Ranges: SP500 = 3; UST 10yr Yield = 3.35-3.61%
KM
