The market opened swell and then heaved and tipped over and trickled down all day and into the final hours let loose to the downside — capsizing those who bought the open. The mood is grim and the Dow off by 250. No one likes the tape and it’s just more of the same — bullshit served up daily accentuated by a bull market in cryptos — leaving more and more people to give up on equities in search of warmer climes.
Ten Thousand suns cannot warm up the earth now, as we’re tethered to the turning of the leaves of October — colder weather and worse markets. We are almost assured destruction now and not much else can get in the way of it. I traded tight and narrow today, opting for only a few positions at a time. By the end of the session, I found myself 15% long SOXS with limited exposure to stocks — a hedged approach — finished at session highs of +145bps.
Le Fly was born to trade in these markets and I look forward to the black out of the sun soon and hell freezing over and all of the plebs who’ve done so well these past few years throw out into the maelstrom and stampeded into the earth and back into dust.If you enjoy the content at iBankCoin, please follow us on Twitter