Fuck You, I’m On Fire

Yesterday I authored a couple of posts throughout the day, urging people to remain in control, objectively assess the market, and sell longs. The day prior I called the market going higher, in a rather veiled way though so as not to reveal The PPT‘s magnificence. Yesterday I hopped into TZA/SKF and initiated three other shorts in EPM, FRPT and JNS. Today, those positions got the clawhammer, resulting in overnight, unrealized gains of 4%, 4.5% and 8%. I even added to my short of EPM into strength.  TZA & SKF were better, obviously being levered, and I took 1/3 profits in each, of 10% and 5.5%. Do you know why I added to my shorts, rather than covering for losses into today’s strength? Because I knew we would reverse, as destiny would have it, since I predicted it in my blog yesterday. This all after refusing to short or sell the majority of longs into the meltdown just last week.

DO YOU NOT SEE WHAT’S GOING ON HERE?

Sure, I’m trapped in some longs from the beginning of the month, having been all excited and shit to hop back into the markets after a summer of traveling and overtrading (LOLitis) myself into some holes. I’m working my way out of these horrible positions, though. More importantly, my more recent action has been spot on, as the Brits would say. I’m hitting my stride again, just a couple weeks after reopening the book.

Into today’s massacre, I was fairly balanced. As stated, I shorted more into strength and thus at the end of the day actually turned a small profit.

51% cash, 17% short, 32% long