Hashtag loser.
I started off the year in a most heinous indecorous manner — by way of losing coin in an otherwise fine market. I like to judge myself versus my Quant, which is more or less market performance and that motherfucker was up 2.55% today.
Now I normally would blame the loss of 1.1% on myself, typically due to some fucked trading. But this wasn’t the case today. Today the Gods rained golden showers upon my head, as I optimistically barreled into 2022 long SAAS and other fine sectors. Well, those fucking stocks got their brains blown out. These were my booked losses in the morning.
So I was long bonds, gold, old man stocks, software for alpha, and an SQQQ hedge. I could not be placed in a more wrong position today, as the inverse of all those things occurred. If not for my 10% position in LABU — I’d be routed.
I am long LABU for seasonal factors. But that same narrative also exists in January for SAAS.
Seasonal returns for LABU
My curse aside, gains were concentrated in small caps today and excuse me if I don’t believe in this shit anymore. Each an every time we get a run in the smalls, we get the smalls routed.
BIG PICTURE: Off by 1.1% isn’t the end of the world and I could easily make it back tomorrow. The greater story for me is this feels more like a continuation of a tape designed to be tricky. By the grace of God, I was able to retain all of my gains last year and I’d be lying if I told you it was easy. I really hated the market last year and I hate it this year too, so far.
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