Main points, first, I continue to view June as the bottom in the market, secondly, I view investment in efficient production and use of energy as the biggest driver going forward. Hedge trades at various points in the 3X short ETF’s allows one to cheapen core investments.
So, what’s up with strategy here? By the end of the week I hope to add to the portfolio by investing in five or six solar stocks which I have been analyzing. In the meantime, maybe another short hedge trade, probably in SPXS, a 3X S&P short. Let’s see how the market acts, it would be nice to see the SPX sell down to 4070 – 4120 area at some point. Powell will be on stage late in the week at Jackson Hole and he will want to look like he is fighting inflation, so probably market will be reluctant to rally much before the following week. But it could surprise, the big shorts will want to be out before Labor Day.