Filter by Categories

Portfolio Watch: The last gasp of a dying man?

We've taken a massive WIN in recent weeks, but the markets are precarious here after blood on the street as seasonality shifts. Is there a final surge before the impending collapse?
2023-09-29
Portfolio watch

Hello Everybody and welcome back to our weekly Portfolio Watch where we take the temperature on our Macro calls and provide our perspective on how they align with what we read in the tea leaves.

Let’s first dwell upon our own trading activity this week. We have entered a spread trade between the CRAK ETF which is roughly flat from the entrance (as of writing), but would perhaps the news of Russia to quotePlans near zero diesel exports next month after ban. Time will tell if that proves to be a catalyst

The same goes for our short which has wiped out the starting gains with the minor stock rally we saw yesterday and are partially witnessing today:

Still, Stocks have had a rough time of it both in September and August:

Chart 1: Equity returns

We’ve taken a massive WIN in recent weeks, but the markets are precarious here after blood on the street as seasonality shifts. Is there a final surge before the impending collapse?

0 Comments

STENO RESEARCH IS JOINING REAL VISION

From July 2025, Steno Research is joining Real Vision to create the ultimate macro research product for you!

As a subscriber, this means the following:

Yearly subscriber: For legal reasons, we cannot transfer your pre-paid subscription directly. You need to register with Real Vision and then we’ll transfer your pre-paid subscription quickly afterwards. Simply go to https://www.realvision.com/free and sign up - and then we’ll take care of the rest! We will shut down service of Steno Research on July 31st, so be sure to make the transfer to keep receiving our content.

Already a RV subscriber?
Please check that you are using the same e-mail. If yes, you don't need to do anything. If not, please contact [email protected].

Monthly subscriber: Your current monthly subscription with Steno Research will end during July (31st at the latest). To continue accessing our research (and more), you’ll need to sign up for a Real Vision membership. Check out your options on: https://www.realvision.com/pricing

For Institutional Clients:
- Your access has been moved to our new institutional offering at NowcastIQ.com
- If you haven’t been moved already, please contact [email protected]