Risk being bought

There are never "easy" trades but today we have seen the market giving away a few gifts. Massive late rally yesterday but then a gap lower on the back of more worries of fund collapse. So, buyers are still coming in but the European session pushed the futures lower. Close your eyes and buy the opening, idiot.

Seems the market is trying to repair the monthly candles which will be completed tomorrow. Next week every lame Wall Street strategist and bull cheerleader will be calling for a fall rally.

Regardless, I'm 100% in cash in my core investments portfolio, can't see any value out there on a 2-3 year horizon (assuming a US recession). And I probably won't trade much until SPX breaks out of 1435-85. JPY still a buy, I believe.

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