Mid Morning August 30, 2022

Aug 30, 2022 | Mid Morning Note

  • The early premarket strength turned into heavy selling
  • Some sell-side desks are out with potential heavy supply predictions into the month end
  • The new put spreads are working - so take some gains as you get them
  • Rates moved higher, as did the US Dollar, although they are moderating now
  • I am taking off some longs within energy and materials to protect gains