Cashed Up for the Week

I'm long GDX, TLT. Have some puts on AMR riding the Spruce Capital play. Otherwise mostly cash. Will be looking to add consumer finance shorts this week, DFS looking like my first choice. I keep going back to the well on MA, V, MCD, POOL those are all going to be beauteous shorts at some point. Eyeing XLE, SMH for sectors. Still like crypto carnage plays like SBNY. Also looking at adding ZN (futures) calls way out in December.

The S&P 500 could get to 4100 area. Not a forecast, but I'm watching to see how the market reacts. If the lows aren't taken out, odds of a bounce increase.

BTC could run to $40,000 in a general bounce.

The ES is lokoing diamondy this morning. The move out of this pattern should be a powerful one.

My read in the very short-term is the bears have to put up or shut up. They take out the lows and the bottom drops out on this market, or the bulls are going to meander this higher with or without a squeeze. It doesn't mean the low is in, only that this potential breakdown moment has passed.