Powell Doesn't Disappoint & A Few Thoughts (video)

Attention Clients, please be sure and take this brief one in when you have a few minutes... 

Sidenote: I forgot to mention the following in today's video (related to this morning's rally in equities): 

Non-commercial (speculators) futures traders and leveraged funds have been significantly net-short S&P 500 futures contracts of late... Powell's comments today no doubt spawned some consequential short covering (buying)... Plus, the equity options put/call ratio had spiked notably over the past week... Therefore, as traders exit those puts (as the market moves [up] against them) the dealers (the sellers of those puts) are forced to cover their hedges (shorts) as well.

I.e., today's violent upside rally has likely more than a little to do with these underlying positioning dynamics

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust: 

Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.