Hello bitch.
Where do we start?
Let’s start with the fact that I traded 61 times today. At the highs, I was up 275bps. Then I got cocky and began to trade sloppily, booking several consecutive losses — reducing gains to about 150bps. I then entered into a very hot stock — SUNW and booked a fast loss, only to see it spike immediately after I sold. That happened last week, same stock, just before my slump.
Then I progressed upon an even hotter stock, ELSE — picked up early by a member inside Exodus. I stepped in low $5s and saw it sink into the high 4s, down 15% from my basis. I was hungry and the stock was whip-sawing all around, so I sold it based upon my lack of desire to babysit it.
Naturally, the stock went on a banana run to $8.5 immediately after I sold it. I got back to the desk and felt like crying and also punching a hole thru the screen. Why does thou mock me, Mother Market — bitch-whore?
Then all of a sudden, Emperor Trump told Pelosi to fuck herself — declaring the stimulus DEAD.
Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19. We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith. I am rejecting their…
— Donald J. Trump (@realDonaldTrump) October 6, 2020
…@senatemajldr Mitch McConnell not to delay, but to instead focus full time on approving my outstanding nominee to the United States Supreme Court, Amy Coney Barrett. Our Economy is doing very well. The Stock Market is at record levels, JOBS and unemployment…
— Donald J. Trump (@realDonaldTrump) October 6, 2020
Markets COLLAPSED -400 and my positions began to reel in earnest. I had been 60% cash, so exposure was low. My profits dissipated and losses quickly took on, sending me down 150bps. I then decided to Kamikazi a trade in OPTT — doubling down as the position nailed me to a cross -17%. Luckily, we got a bounce OFF THE LOWS and I was able to sell for a 1% gain. I then took two more trades — WWR for a fast 8% gain, inside 2mins, and I doubled down in SPI — which I still own now.
The net result, like a don, I ended up 50bps, peering down on quantitative accounts that got flummoxed today.
80% cash into tomorrow’s melee.
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I’m still short. Down at the moment…
…and down some more. I’ll stand pat and see where I am this afternoon.
DUMB HITLER SAYS NO STIMULUS UNTIL HE ROTS IN PRISON
I’ll not defend Orange Hitler but it isn’t his call. Mitch’s caucus won’t go along with anything but the skinny bill. Never was going to be a deal.
Trump clearly sees the writing on the wall:
YOU’RE FIRED!
Since he never much cared for his dimwit base to begin with, he will try to crash and burn everything as a lame duck (“100% tariffs on water”).
His own party reps will stop his scorched earth policy since they know they’ll have to answer for themselves come 1/1/21 (i.e., those who haven’t been booted with Trump).
Meanwhile, Xi Jinping is happy to patiently wait 3 more months so he can negotiate with an old man instead of an old, obese psychopath.
Oh, and the Democrats are better waiting to pass their own stimulus package in January when they can easily pass a much, much bigger one (I’m guessing 5 Trillion, minimum). They will bail out anyone and everyone except for the Trump criminal organization.
Then, the trials will begin (tax evasion, RICO, etc.), provided Trump survives the plague.
Now dotard has gone back and said he’s ready to sign a stimulus bill. This back-and-forth, no one knows what the hell is going to happen next, bullshit is exactly why we have to get this maniac out of office.
Agree. The market hinges on the ravings of a madman.