I understand your approach, but admittedly I am astounded there's no trade deal with at least one country of significance over the weekend here. I fully expected the Trump administration to throw the market a bone here. They've got until tomorrow I guess.
What are your views on max pain here?
Max pain in my mind is slow tariff unwind + recession + AI is a bubble + fed doesn't cut rates very fast + cyclical adjusted PE is high. I could easily see another 20% down or more in that scenario.
Or are you just playing this as purely a short-term bounce?
S&P500 futures open down a shocking 205 points .... that's a 4% drop. Of course it's just 5 minutes into trading and a lot could change overnight, but it looks like a sharply lower opening tomorrow at this point in time, much worse than the 75 point drop I expected.
At 8pm we'll see how the Mag 7 and other stocks start trading ....
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