“THE FLY” BOGGED DOWN IN A DRUG BUST — ENTIRE HOUSE IN RUINS

I was awoken to cataclysmic losses today, after a spate of good fortune. I had been long oils, ag, and pot stocks — all fucked at the open. The entire day was spent trying to stick my fingers into the holes of my ship, in an attempt to stay afloat. I ended the session DOWN 390bps and that’s after two dozen small trading gains.

It’s worth noting, I was also heavily hedged with positions in TZA, UVXY and FAZ.

It could’ve been disastrous and indeed it sort of was. But towards the end of the session, the gods placed me in DNA and she beat estimates after the bell and I just made 13% for my troubles — propelling the portfolio higher by 64bps in the AHs.

I am roughly 13% cash, 25% short, the balance long a blend of tech and commodity stocks. Although tempted to truly buy the oil dip, off by 9.5% for the session, my best guess is for oil to continue lower tomorrow and perhaps sting longs who bought today’s sale.

The news is rigged. The markets are rigged. Your entire life is rigged. I trust nothing other than the last quote and try my best to position at the moment for what is likely to be a trend in the immediate term.

Month to date, I am +14.5%.

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