These positions, which were trending earlier in the day, are now counter-trend. In an effort to avoid churning myself into stupidity, I’m gonna hold for one more day — based on the ideal that MARKETS DO NOT BOTTOM ON FRIDAYS.
Here’s the math.
Will they release the Huawei prisoner tomorrow during her bail hearing? How could they when she was arrested 5 days ago based on an extradition request? She’s going on a fucking greyhound bus in shackles en route to Brooklyn, where she will be processed with the other felons. How could we release her, when in fact she’s a flight risk?
Logic dictates this isn’t over and it might culminate in the sinking of a Japanese destroyer off the coast of China.
This isn’t over. However, if she gets released, I can see fuckers bidding up stocks. All this is noise for my overall feelings about this. I am 65% cash in my trading account, 10% TLT, 10% SOXS, and 10% TZA. While having 20% of my account short, in 3x ETFs, it’s not — especially when considering this account is only 25% of my overall portfolio value.
Why do I remind you of these facts instead of getting overzealous?
Because the details matter and many of you FUCKERS will take my TZA purchase as a reason to go all in on the short side. I’m merely moonlighting in these fuckers. There’s a lot more emotional investment in these positions than money and I have rules that keep me from destroying myself at the altar of risk.
There’s lots of chop in the tape. Heading into the bell, this is a triumph for bulls — staring down the worst tape in 7 years, unflinching, unmoored by margin calls, and they bought it up with both vigor and tenacity.
Congrats to the bulls. You really did it this time.If you enjoy the content at iBankCoin, please follow us on Twitter