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No Country For Call Sellers
US equities came into the June FOMC meeting not just in melt-up mode, but in "crash-up" mode.
The two aren't mutually exclusive, but the former tends to precede the latter. To grasp the distinction, you'll need to be fluent in market colloquialisms -- Merriam-Webster isn't your go-to for this.
As discussed here on a number of occasions, markets have evidenced a "grab" for upside as a previously under-positioned (but now more neutral) discretionary crowd chased the rally. You can see it options
Appreciate the nod to the late Cormac McCarthy. Respect.
A.O. Scott has a nice appraisal of McCarthy’s life and work — and his position in a generational cohort of outstanding American writers who have left us in recent years — in the Times:
https://www.nytimes.com/2023/06/14/books/review/cormac-mccarthy.html