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I am the first one to share the news that I had a fantastic trading day. This is not one of those times. On the contrary, I got hammered by 2.56%, and I screamed in retreat from over 100% committed to merely 50%. The well-received CPI ran over me like a truck.
Added to which, the “thing” going on in my personal life got totally upended last night, which has sent a bunch of stuff into abject chaos. Let’s just say the past 24 hours have sucked out loud.
As for the market, the small caps raged higher today, pushing to a new recovery high:
The Nasdaq blasted above its multi-decade trendline and cut to a new lifetime high.
Semiconductors did exactly the same thing.
And the S&P 500 likewise pushed to never-before-seen levels.
I thus end the day with a much lower risk profile and a serious need to hide under a blanket. To think that all it took was a “met expectations” CPI report is stunning. I’m not quite sure what else I could write about until tomorrow, and I think I’ll go cogitate for a while before daring to touch this keyboard again.
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