Just hear me out lol. Just a thought I’ve had: I’m trying to make sense of this ramp given the risk signals.
We just saw Russell Clark’s fund close up shop. If we give all of this back up, it’s possible—given all of the other risk off signals we’re seeing—that this just happened to be a big short fund closing up its book. It’s a long stretch, but straight up after the run we’ve had while so many things point in the other direction needs an explanation and perhaps it’s a very simple one.
Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.