Our call last week on USD finally getting a run up seem to be in play. Mutual fund flows out of US equities has been consistently positive (i.e flow out to bonds and foreign equities) for well over a year, yet the market rallies, hmmmm.
My call for a new recent high, followed by a drop, just happened. Not playing cute with short positions though, just holding. That same call expected a further push up to make sure the shorts have been double burned (recently), expect that later today or tomorrow, and then I think the distribution game is over for a while.
I don't have any way of real time watching of overall put buying or call selling, but that would be a useful trading tool, does anyone have a good way? Then we need to separate options on just equities versus overall options (includes hard and soft commodities).
I guess it is HBB managing the State Pension funds who have benefited from this rally, hope those pension funds enjoy it while it lasts. Very Shearish.
