Yet again, I am bogged. This is the 6th of the past 7th down days for House Fly, as I am presently mired in a trading losing streak — mostly rooted in the idea, mind you, that stocks might fall. I keep getting lured back into the bear trade, only to be fucked and whipped upon the gibbet. The process continues, unabated, and I don’t know when I will learn my lesson.
I am starting out my day, thanks to FNGD, SQQQ, IRBT and a fucking Chinese burrito, down 2.3%, decreasing my MTD gains to just 2.9%. I am also adding new positions, which gives me an eery feeling of exacerbating an already tumultuous situation. At -2.3%, I cannot risk much, otherwise I’ll rout myself in a choppy tape. Ergo, I am presently 60% cash and I might as well keep it there until something breaks.
The Nasdaq is +76, in spite of the fact that there will be no new stimulus bill until after the elections. The big mover today is BTC, currently encroaching on $12,500 after PayPal announced widespread adoption of the crypto-currency. I have ETH exposure and although it’s not doing as well as BTC, it is at least rising.
My albatross for the day will be to decide whether or not to acquiesce to markets and close out shorts, or obstinately hold them in the “hopes” something will go wrong and markets cascade lower. I understand my position is a foolish one; and because of this, I hate myself for being naive. Nevertheless, during these arduous times, I am reminded of the innumerable occasions where I’ve picked myself out from the sewers and shot myself back into the sky, like an ICBM — destined to detonate over the heads of my enemies.If you enjoy the content at iBankCoin, please follow us on Twitter