This was NOT the storybook ending to an otherwise joyous day. Markets dove lower and lower since lunch and offered little to no respite into the close, ahead of a jobs report.
I positioned for inflation and higher rates, but a TZA hedge of 10%. I own some oil, some tech, and a few Chinese stocks and will certainly lose money if market trade down tomorrow; but there is a chance, a small one albeit, that today’s fade was nothing more than uncertainty and we’ll get back to punching faces the fuck off tomorrow morning.
If we gap lower tomorrow, depending on my PNL, I might want to hold and wait for a turn-around. However, if I am up in the morning, I might just op for 100% cash, as this market is uneasy and filled with a variety of ways to annihilate traders.
No penny stocks. No pumps, only strategic positions based off economic themes for the near term future.
I close the session +160bps, about 30bps off session highs.If you enjoy the content at iBankCoin, please follow us on Twitter