Strange Day. In an upset victory, the Universe didn’t collapse into a black hole of sovereign debt at the end of the Mayan calendar. However, last night, on the eve of the would-be Mayan Apocalypse, as if on cue, futures collapsed following news of GOP malfeasance in the House of Pain. For some reason, trading robots give a shit about this noise – or was it just an excuse to work off recent equity “frothiness?” We’ll never really know. Overall, market action today wasn’t particularly end-of-the-world worthy. Call me complacent. Although, as per norm, the Twittersphere was full of pros telling us how stupid we all are for not being 200% levered short like they were going into today. Guilty as charged. Yawn.
On a day when nothing seemed to work other than $EGOV (h/t @chessNwine inside 12631 for spotting this one), I did little – refusing to offer discounted prices for my holdings to depraved algorithmic trading platforms. I actually reduced my already slim 33% cash position by opening a starting 4% position in $DDD late in the day at 51.69. It closed a tad under 52. I recently booked a decent gain in this name – though fat-fingered an exit, leaving substantial wampum on the table. The stock showed good relative strength today, was actually green, and appears to be consolidating after its recent runup. I would post a chart but you all can look it up if you care to. Enjoy your pre-Xmas weekend. Try not to be shot while shopping.
Oh, it’s a strange day In such a lonely way I saw some children dance I watched my life in a trance And the people around me Seemed so glad to be here Will my time pass so slowly On the day that I fear? And the noise that surrounds me Is so loud in my head From the promises made To the lies that I said Oh, it’s a strange day In such a lonely way Some people look down on me I hope they like what they see Strange day Such a strange day – NEW ORDER / TRUTH