The market did exactly what I wanted it to do, so I ended up banking +14% in SOXS. In my previous blog, the Dow was +650 and went to breakeven inside of an hour. INDEUD.
This is what I do. I feed people fish. Although I am tempted to book profits on my longs now — I do believe we can hold these gains. Moreover, I also believe there is a pending COLLAPSE in put premiums — as all of you reactionary retards get HOT ROLLED AND STEELED into the teeth of RECORD STIMULUS and CENTRAL BANK RIGGING.
This is the time when men are born. Banks look best, since any government bailout will help them most — by excusing them from massive LOC tappings.
This will not last
All trades happening in RT, Exodus.
CIAO.
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TSLA down $90 from morning highs. Yikes
My only regret is that the Put Spreads I am holding were not more aggressive, but implied volatility is so high, it doesn’t make sense to hold straight Puts and the leverage is still higher than shorting.
So are you long SVXY?
Fly,
Just asking, because if you zoom on the cahrt, you’ll realize that i lasted quite a while in 2008-09, and Wednesday’s and Thursday’s action shows that this is partially a systematic financial system problem.
Of course, you could be easily right, but it is more of a gamble (for next week) and less of the sure thing your post implies.
Somethin else to keep in mind is that their is high volatility in the VIX itself, so it may be more difficult than you think to bacnk coin, especailyl when you consider the tail risk. SVXY, TVIX, VIX options… given the U-shaped outcomes (possible good stimulus package vs possible massive increase in cases), you’d better have a tight leash on whatever VIX play you choose.
Here’s Nancy’s Bill:
https://www.congress.gov/bill/116th-congress/house-bill/6201?s=1&r=70
It’s mostly about helping workers affected directly (through layoffs, paid leave, kids at hom,e etc,) by COVID-19
Nothing about Cruise lines airlinse, etc.
Indeud … when VIX accelerates down algo’s buy like crazy. We saw that last Friday. It’s falling – down 11%.
Hey Fly – still see a 3:00 fade?
End of day ramp again?
I sure wish you guys would stop jacking off to
microtrades in a generational BEAR MARKET.
On a finance website yet. That includes YOU, fly.
Please explain why this is a generational bear and why more Fed fuckery wont juice equity prices as they have done for the last 2 decades.
Too early to tell how this turns out, mainly because no one know how many infections they are in the US currently, especially when you consider asymptomatics cases.
I am 3 DoF from one confirmed case, and 4 DoF from a 2nd, if that gives any perspective (living on the East Coast).
However, regardless of how this turns out, you can take away two things:
1) The Treasury system isn’t as robust as we assume
2) The FED’s effects on the market have been greatly diminished (witness the intermeetign emergency vut and the $1T bazooka, both of which had little effect)
So if this ISN”T a generatioanl Bear Market already, the next one will be.
Cash flows:
https://www.zerohedge.com/markets/weeks-after-dalios-cash-trash-cash-sees-biggest-inflow-history
Logical (historically) and obvious traders choice.
The problem: it is possible that the Middle East and Europe may have to start up an accelerated mass crematory program. If so, the vix may actually be fairly valued/cheap?
Liking the 80/20 position (20% invested either way, but I am also a puss). ?
You guys are gonna have no money left over to buy Bank of America shares for $3 at the bottom in 1932 when FDR gets elected. Hoover won’t spend enough. Fed can’t do shit. There is no more laughing gas in the whipped cream can. Soon the wobbly feeling will go away and you’ll realize where the fuck we is right now. China’s been eating bats for centuries. Suddenly now that they have soap and penicillin and hospitals they catch the plague?
Every dead boomer couple is a million bucks the govt doesn’t have to pay out in social security.
And not a single boomer will believe it.
Jet fuel. Steel beams.
Buying physical gold and silver on Apmex and shorting silver through 3X ETFs.
Let’s look at the VIX on Friday:
At 3:37 the VIX began it’s 23 minute accelerated drop losing 14% along the way.
At 3:37 the S&P began it’s 23 minute incredible ramp to the close.
The question is: wither Monday?