I was hard pressed to push a net short position into CYBER MONDAY based off some scurrilous data regarding a new COVID variant. It all seems so jejune and the very last thing I want to be is uncreative.
I went all in but with a 15% TZA hedge, which at 3x IWM should afford me with a decent hedge should we collapse on Monday. I ended the session +85bps and +7% for November. We had been up 6.5% on the IWM in the first week of November and I warned you all that gains had been had, with very little to no case for more gains in light of the overall market outlook.
Barreling into December, I am concerned for markets and believe we will likely trade lower. But that doesn’t mean we’ll trade lower on Monday. I trade, very short term, and I win — all the time. That’s who I am.
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