1. Tuesday 31st March 2020 March 2020

    Published: Mon 30 March 2020
    Updated: Tue 22 November 2022
    By steve

    In markets.

    Well, this is the end of the quarter. The last week has been horrid, but the quarter as a whole will be OK.

    This morning, first thing I did the following:

    • closed the AIR puts. I am still bearish on aeroplane makers, but the market is turning (maybe),
    • closed 9434 …
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    There are comments.

  2. W/e 21-22 Mar March 2020

    Published: Mon 30 March 2020
    Updated: Tue 22 November 2022
    By steve

    In markets.

    Ideas picked up:

    • Dollar demand is still high,
    • lots of industries, particularly automotive in Europe, have a lot of debt coming due. Also insurance, tech, capital goods. More stress coming, as longer rates move up,
    • big upward moves in SPX are characteristic of a bear market.
    • 10Y-3M spread going -ve …
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    There are comments.

  3. Wed 18th March 2020 March 2020

    Published: Mon 30 March 2020
    Updated: Tue 22 November 2022
    By steve

    In markets.

    10:53

    Early indications (Twitter) suggested that equity markets were going to open down, so you sold ESTX50 & NQ. UB was hit hard, and you sold an extra lot. UB is very long duration and very volatile, so it’s uncomfortable. You sold BTP too, which seems a ‘safe’ bet …

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    There are comments.

  4. Wed 25th March 2020 March 2020

    Published: Mon 30 March 2020
    Updated: Tue 22 November 2022
    By steve

    In markets.

    See yesterday’s entry. Biggest rally since 1933 continues. Everyone calling it a bear market rally, but no sign of it losing steam as Larry Kudlow tells the press that he’s expecting $6MMM of stimulus.

    Peter Schiff going bonkers as the market rallies without gold following. I’m not …

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    There are comments.

  5. Weekend of the 15th, 16th March 2020 March 2020

    Published: Mon 30 March 2020
    Updated: Tue 22 November 2022
    By steve

    In markets.

    Chats with LewBITW

    Saturday:

    I like Bill Fleckenstein, because he makes a clear distinction between what he sees as the market over valuing or undervaluing an asset and what events might prompt him to actually establish a position. He is an active trader, and runs a fund, so it’s …

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  6. This is the taste of toast

    Published: Sun 15 March 2020
    Updated: Tue 22 November 2022
    By steve

    In misc.

    tags: books

    Is this molecule the taste of toast?

    Search for ‘Maillard Reaction’ — one of the most important reactions in cooking.

    tetrahydropyridine

    To learn more, read Harold McGee on Food and Cooking. Not a cookbook, but a book about cooking. This book is worth reading even if you don’t cook but only …

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    There are comments.

  7. Extended Consultation

    Published: Thu 28 February 2019
    Updated: Tue 22 November 2022
    By steve

    In Markets.

    The consultation period for the Main Modifications to the North Hertfordshire Local Plan 2011 2031 has been extended. The consultation period will now run until Thursday 11 April 2019.

    This letter clarifies that the consultation also provides the opportunity to respond to the new written evidence produced or submitted by …

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    There are comments.

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