I started off the year in a most heinous indecorous manner — by way of losing coin in an otherwise fine market. I like to judge myself versus my Quant, which is more or less market performance and that motherfucker was up 2.55% today.
Now I normally would blame the loss of 1.1% on myself, typically due to some fucked trading. But this wasn’t the case today. Today the Gods rained golden showers upon my head, as I optimistically barreled into 2022 long SAAS and other fine sectors. Well, those fucking stocks got their brains blown out. These were my booked losses in the morning.
So I was long bonds, gold, old man stocks, software for alpha, and an SQQQ hedge. I could not be placed in a more wrong position today, as the inverse of all those things occurred. If not for my 10% position in LABU — I’d be routed.
I am long LABU for seasonal factors. But that same narrative also exists in January for SAAS.
My curse aside, gains were concentrated in small caps today and excuse me if I don’t believe in this shit anymore. Each an every time we get a run in the smalls, we get the smalls routed.
BIG PICTURE: Off by 1.1% isn’t the end of the world and I could easily make it back tomorrow. The greater story for me is this feels more like a continuation of a tape designed to be tricky. By the grace of God, I was able to retain all of my gains last year and I’d be lying if I told you it was easy. I really hated the market last year and I hate it this year too, so far.Comments »