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Devin Cragin's avatar

The momentum unwind on Thursday & Friday was wild. Haven’t seen that magnitude since early 2020. Definitely some people with this year’s “easy” trades getting unwound. Downside moves in defense & health care creating some interesting opportunities. Obviously the huge rally in low quality, cash burning zombies was the other side of the unwind (lower rates/tightening spreads). Probably some opportunities there as well but that requires a bit more bravery and timing skills. Looking forward to the follow up, take care.

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Drift Ranger's avatar

Worth waiting for

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