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Updating The S&P ‘Pain Trade’ Amid Monday’s Global Euphoria
Over the weekend, we spent a good bit of time documenting the myriad factors that could potentially turbocharge any post-trade truce rally in U.S. equities.
That could be a contrarian indicator. The market has a habit of doing the opposite of what everyone expects, sometimes to the extent of seemingly defying math and logic.
Jokes aside, the thesis is pretty simple. Re-leveraging levels for trend following strats are close, the buildup of upside exposure through calls leaves dealers short gamm
