postcards: somewhere over france i'm trying to make sense of the san francisco real estate market...

There is a lot of strong momentum in the retail, energy, and materials space. But there's an incredible amount of weakness in various CRE markets...

postcards from the florida republic

what you missed, what I’m watching, and what’s investable today

Tuesday, June 6, 2023

Dear Old Friend,

Greetings from somewhere over France.

While I’m always game for financial adventure, I’m prone to technological mishaps. Those Apple Store classes where they teach spry grandparents how to operate their smartphones? Those were likely designed for me… but I’m too stubborn to read an instruction manual or listen to a member of Generation Z tell me what to do…

I couldn’t get online until now.

Classic Garrett.

Don’t Look Now… But Financials Are Recovering

What a morning. We’re seeing a breakout move on several beaten down sectors like retail, energy, materials, and more. Capital flows into the market are extremely strong. I’m going long right now on XRT, OZK, XLB, and XLE. I’m not sure how long this will last – but there seems to be a significant amount of short covering across these various sectors. CF Industries (CF), on which I sold put spreads yesterday i…