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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
<a href="https://stenoresearch.com/author/emilmoller/" target="_self">Emil Møller</a>

Emil Møller

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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 quote “Plans 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?

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