iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,430 Blog Posts

PRICE ACTION REVOKED: COLLAPSE

The market makes a fool out of me from time to time. My previous blog was alluding to the grandiose excellence of the price action. As soon as I published it, we collapsed.

Now the NASDAQ is encroaching on -100.

Here’s what I’m doing.

I kept the TNA, TMV, EUO, and added to TMV. For higher beta hedge, I took a 5% position in UVIX, and believe it or not I also added to my TNA and will continue to catch it as it falls. If I can find the right equanimity and heft in my weightings, I’ll be able to pivot quickly when and if the market turns back up.

I gave back 40bps of gains and now sit +45bps.

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6 comments

  1. donnie wads

    Interesting though that chip stocks, Zillow, Robinhood holding up in this tape.

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  2. metalleg

    Whiplash. Fundamentals point to collapse unless Fed reverses course and they won’t for awhile. Short bias.

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    • roguewave

      But they will at some point, when not if.

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      • metalleg

        Yes but once they do it, there’s no going back to tightening so I think they’re going to give it to us good and hard for a much longer time. If they’re willing to kill us with vaccines, they are certainly willing to crush us economically.

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        • john galt

          Dead on, are they understanding it while doing it as simply as you put it?

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