I ate multiple bowls of oatmeal and avoided any semblance of sugar or milk too. I just ate the oats, like a fucking horse — because I am austere and conservative and I do not use fouled language or make fun of people for going on ski trips and cavorting inside decorative ski lifts.
For that, I got the following:
-14% in ATTU
-9.6% in SOXL
-2% in CLF
-5.5% in NIO
wash in SMAR (double sized position)
wash in SHOP
That was 35% of assets. Total loss was around ~1.5% on those fuckers.
On the plus side was the following.
That was 25% of assets. Total gain was ~0.80%.
I have a few positions left, but not much. I am 85% cash, only represented in the market by my long term Quant portfolio, which is higher by 3.8% for the month. Net net, my trading account resulted in a circle jerk — not much happening after a lot of shuffling of the decks. The reason why I decided to clean house is multi-layered, but it had a lot to do with the exogenous losses in SOXL and ATTU. Both those stocks truly pressed the ram against the wall for me, so I decided to clean house and start fresh — an effort to take control of my money and not permit the gains that I still had whither away and fall into loss.
The bear narrative is well defined and I think it will eventually come back into play. My only trepidation is shorting too early, as was the case on January 3rd, before the melt up.
See that red candle on the 3rd and major white candle on the 4th? That was a paradigm shift for markets and the reason why I went long. It was a fine trade to go short on the 3rd, but stupid to have held it on the 4th and going forward. Today’s red candle is a significant red flag, even more so now than on the 3rd, since we bellied up so much since then. However, the prudent trade would be to wait until tomorrow to get clarity and confirmation — that’s what an austere man, such as myself would do. That’s what a conservative pipe smoking book toller, like myself, must do. Sit and watch, become a voyer of stocks in the interim, culminating to a tipping point — at which point, I dive all in and savagely brutalize my enemies.If you enjoy the content at iBankCoin, please follow us on Twitter