Risk: Turning Green
Well... that was something
Good morning:
Conditions continue to improve, and homebuilding stocks are starting to rally ahead of next week’s rate cut. The Russell is getting some steam back, the VIX is dropping, and markets are cheering the rate cut out of Europe.
The S&P 500 aims to move above this 20-day moving average, and the Russell is on the verge of getting there. I’m not 100% convinced that we’re out of the woods, but I’m starting to remove hedges where necessary.
Oil is still getting hammered, but that’s short-term bullish for a few sectors.
Stay positive,
Garrett Baldin
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