That was a dreadfully traumatizing session, typical of 2021. We spiked early and painted sideways until late noon. Thinking the low volume end of year session would result in a ramp into the close, I bet early we would BUST LOOSE through the fag-box and cut dick offs on the way up.
See that fucking box? The plan was simple: Buy the breakout, short the breakdown.
I opened the day +90bps after some early success, remained mostly in cash, and then LEVERAGED UP to 125% of my principle and was enjoying life, increasing gains to +145bps until the fucking bottom dropped out. I kept stops tight at 1-1.5% and sold on the way down and bought UVXY, TZA and SRTY to hedge. As the selling increased, I continued to pare down my losers until very few were left. I then took a gambit on the long side, still errantly believing we could ramp the close.
Along my newly added longs I bought TMF and AU, both also considered defensive as a play on lower rates in a risk off environ and of course gold.
My new longs, aside from TMF and AU, didn’t pan out much better and several were sold almost immediately. In the final 10 mins I reapplied my hedges, 2x TZA and 1x UVXY and closed +28bps with 40% cash.
Fucking retarded.
I could’ve just done nothing and kept my +90bps. Instead, typical of this fucking cock-tease of a year, I chased the dream and it ended up having Freddy Krueger in it attempting to slice and dice me up into pieces.
Into tomorrow’s finale, I expect more of the same.
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