THE BIG SHORT.

One of THE most important setups of the year — CONTINUED.

“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.”

— Paul Tudor Jones

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August continues to challenge every consensus narrative…

I still think Equities are in one of THE most important setups of the year:

• Positioning REMAINS offsides across many key markets.

• A new PAIN trade is here, and looks ready to move.

A lot of themes are on deck…

I believe the opportunity set is expanding.

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In today’s report:

✅ The biggest Short in history.

✅ What’s the PAIN trade from here? What’s the hardest trade on the board?

✅ What is Volatility telling us?

✅ RELATIVE performance could hold the key.

✅ Two NEW sector themes which look particularly timely.

✅ A Special Update on potential new leaders and longer-term opportunities.

✅ An update on Oil & Energy, Metals, Rates, the Dollar, and key signals.

Have a great week ahead!

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