I was fortunate enough to be hedged into today, also long HUT, and closed out my positions flat. I then traded in and out of leveraged ETFs and more or less did nothing. I am now net short, mostly cash, having difficulty trying to figure out where stocks are going next.
We know SAAS is up today but oils are hammered.
We have rancid breadth in tera caps, with better breadth in the small but bigger losses! There are stocks like NET and AFRM doing well, ignoring the tape. There is mean reversion kicking in for Chinese names, which are doing ok in this tape.
Cryptos are soaring, but crypto miners are well off their highs.
Runners like GROM soar and then collapse, trapping a slew of momo traders in its burning house.
All the while this is happening, we know the market is sick but we are also well aware of GIANT PENIS SHAPED candles that can save the day.
As for me, I will not be trading in individual names, if I can avoid it. I am interested only in ETFs and trading small because I want to be able to get out fast.
Other than that, House Fly is in SEVERE SHAMBLES as his toilet bowl valve broke and the plumber he hired had a fit fixing it. He was besides himself with grief, sweating it out, removing the entire toilet top to smash the valve to pieces on my front lawn for all of my neighbors to see. He then replaced said valve and then detected a leak in the water hose — forced again to leave and go back to his house for supplies — because this is a man who goes on a job without any.
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It’s a lot easier just to fix little shit like that yourself.
Bought some TECLfor a day trade.
Sold the TECL +.4%. I’m done but will check at the close.
Overall, quite possibly a good day to do something else.
Not good on the plumbing. I’m always torn with plumbing, if I do the job myself I know it gets done right but it takes me 4x longer than a contractor who subsequently might destroy my home through negligence.
Followed Fly into TBT. I think there’s an absolute ceiling in interest rates the Fed will implement to save the US budget, but I think the 20yr hitting 4% is a foregone conclusion at this point. That should provide a quick arbitrage to double your money since the spot price would have to decline by 32% and TBT is a 2x daily product.
I trade the 3x, TMV. I use the leveraged funds to save space in my accounts to keep my settled trades at bay, so I prefer 3x, if their performance is within reason. Some of them suck.
You have huge balls.
I couldn’t bring myself to go the extra multiplier, the Fed frightens me they are very mentally unwell.
It’s just so trying isn’t it? Why can’t the help come better prepared? Perhaps a massage and mani-pedi for your precious.
an omelette sounds good