$IWM IS DOWN 1% FOR DECEMBER ***

History will never know what happened here, only the people who traded. Just like I can vividly recall certain periods of time and how semis fucked me hard in Jan of 2004, so will you know that when the market as a whole did very little for December of 2021, this also happened.

England tightened today, causing everything to get up-ended and ADBE is crashing lower post earnings — taking with it SAAS. I made the foolish mistake of SELLING MY TZA AND UVXY HEDGES at 7am and have watched markets go lower from then. I didn’t sell the open, but instead gawked and ignored and made believe it wasn’t happening until I had to be a BIG BOY and stop hiding from under my desk and deal with the situation, locking in 2.3% of losses. I have since reacquired some TZA and SOXS. On the whole, it was a very stupid thing to do. I thought we’d have a ripper thanks to copper up 3%. What I did not realize was this wasn’t a ripper but a commodity isolated rally and tech would soon be destroyed. Thanks to my diverse holdings, I have some commodity plays — but not enough.

Bottom line: I blew it and will need to be methodical now. I rarely get +260bps in upside these days because markets simply do not rip like it did yesterday and I rarely take outsized risk, so now it’s probably back to 30-80bps moves.