UPDATE: short USDJPY @ 114.80 & Risk Reduction Basket

I discussed my overall view yesterday, how most charts conveyed the same message and that you have to act when opportunity comes around.

Well, here's me blowing smoke up my own ass: I've cleaned up massively today! On top of my USDJPY short, I own JPY against other currencies, I own CHF, I own Oct Eurodollars and I own VIX calls. All four parts were entered yesterday and I'm absolutely thrilled to be holding this basket into next week.

Odds of a recession keeps increasing yet Wall/Main Street still can't fathom it. During the last 48 hours I must have screamed at all my college buddies who've been saying everything is OK. They are reckless not me. Of course, the biggest bulls among them work at prominent hedge funds. Go figure...

I'll shut down my terminal and head for the beach - I'll gather my thoughts on Sunday.

Have a nice weekend everybody.

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