Meta Strategy Trading Portfolio – Probability Map Update.

– Positioning Update Wednesday to Friday –

The Great Holiday Deleveraging

After a quick post-OpEx bounce, the choppy weakness during the second half of July accelerated to the downside last Wednesday, caused by continued de-leveraging across the board.

Degrossing during low liquidity periods is very tricky to time, but the good news is that risky assets tend to bound back quickly as soon as bargain hunters step in to take advantage of forced selling.

The recent upheaval introduces more uncertainty into the projected path forward.