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I opened the session +140bps and then traded beautifully, very clean and smooth, to +350bps. I eschewed genteel trading in favor of chasing momentum. Because I left $600k in profits on the table by selling 30,000 PHUN in the after hours last night, I was convinced I could repeat the past and went on a sojourn to swashbuckle through the sewers of Wall Street, in search of conservative talk radio plays and all types of connections to Donald John Trump. The result was CATACLYSM, as the market grinded down — so did my gains.
I ended +122bps, almost where I started, all of that trading for nothing. It goes without saying, chasing momo can result in having your dicks cut off.
I closed the day with some oils, some tech, and some calls on BITO — looking for Bitcoin to eclipse $100k by Xmas. I expect BTC to pullback, so my position is small and will be bulked up later.
Lastly, I am 3x hedged in TZA — just in case fuckery happens on Monday. All in all, in spite of all of the grandeur and pomp, I was not happy about today and not happy with the result. Month to date, I am +5% and I will protect those gains with my life into the closing week ahead.If you enjoy the content at iBankCoin, please follow us on Twitter