Recap from last week: “Energy vs QQQ is back. Expect a bounce back in energy for the week.” (XLE +10.22% vs QQQ +4.46%) “USD weakness helps bid energy, which will also help raise interest rates” (USD -0.79% & WTI +4.41%) “Call option volatility and skews are very firm as there is growing sense that this rally is different and might be able to continue.”
The pain trade is higher.
Recap from last week: “Energy vs QQQ is back. Expect a bounce back in energy for the week.” (XLE +10.22% vs QQQ +4.46%) “USD weakness helps bid energy, which will also help raise interest rates” (USD -0.79% & WTI +4.41%) “Call option volatility and skews are very firm as there is growing sense that this rally is different and might be able to continue.”
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