Today is a short rally. Do not buy longs or short today. Wait for direction after the fed.

Also, on another topic, if we are in a bear market, what’s the big deal? The average bear lasts, what’s the statistic, 16 months? Imagine the number of opportunities that will be created if the indices dip 30%, imagine the number of new market leaders that will emerge. I reiterate that now is not the time to be buying the dips in your favorite bullshit stocks, like AAPL. Wait for it.

Similarly, you don’t want to get caught short after a surprise 75bp cut Wednesday and a huge rally. Right now, Fed fund futures are at a 70% chance for 50bp cut and 100% chance for 25bp cut. Anything less than 50 will piss off Bilderberg.

The smartest thing to do is wait for clear disappointment and short aggressively, or wait for the surprise and get long aggressively. Either way, you don’t want to bet now.