Market Recap
Slow start to the week but things certainly picked up on late Wednesday and Thursday with CPI. If I read what I thought I read, and it seems palpable, Thursday’s closing prices on the Nasdaq 100 and the Russell 2000 had the biggest difference in history.
While many were screaming “sector rotation”, but there was a bit more to it than that. Because not only did money pile into small caps, but there was unwinding of leverage and some good ole’ short squeezing on the Russ.
This along with every fund being super long leveraged the Naz, as to not miss the AI boom, realizing they were offsides a bit.
Friday the broader market snapped back and did so in a fairly impressive fashion.
Anyway, the Perma Bears got to be right so now they are only down 40% on the year versus 45%.
Our Overall Performance
This is simply in place to show what is possible, even at 1x scale, over the course of 12 months, as it is just the average weekly return x 52 (weeks).
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Our Performance this Week
We did modestly well on the week, if factoring in the risk management aspects. Given we were slightly bullish into CPI, and still made some gains on Thursday I guess that’s a win. All strategies up on the week so we will carry our gains on the week and month, albeit modest ones, into next week.
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For more detailed performance check the following: Strategy Performance Page
The Week Ahead
Not a whole lot on the Econ Calendar next week, sans Retail Sales on Wednesday and Philly Fed on Friday. We do have some names that report earnings next week that may offer up some trades. GS on Monday, ASML on Wednesday and NFLX on Thursday.
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