Kospi Cosplay

Perhaps the most epiphanic moment for me as a trader in 2026 was reading an article in the Wall Street Journal about the young “traders” in South Korea that were making bank by buying and selling equities in their country. They were so naive and arrogant; I figured a reversal was at hand. That’s why I became obsessed with the likes of EWY and KORU (my biggest money maker), and that continues to serve me well, as the latest KOSPI wipeout makes clear.

The AI bubble is starting to leak, and that’s reflected in SMH. My positioning in high tech shorts now is quite aggressive.

More broadly, the Nasdaq continues to break down. It’s particularly exciting since the market as a whole is being absurdly robust. Once the nitwits holding all those positions realize what dire straits they are in, the selling will accelerate.

Tech sellers have turned to the old-school Dow Industrials as a safe haven. Enjoy it while you can, fellas!

The fact is that South Korea, magnificently illustrated here by way of KORU, is getting close to the greatest H&S top of all time. It isn’t done yet, but by God, it’s close.

At the moment, however, the /ES keeps playing jump-rope with its horizontal. I think we can at least breathe a sigh of relief that any follow-through on the breakout is dead on arrival.

I am entering the day more aggressively than I have in a long while, with a commitment level of over 200%. God bless the bears (well, the BEAR, since I’m the only one left), and let’s keep counting those days until the midterms. It’s so close!