Look at that fucking chart. Let me tell you how I played it. See where all the green candles were — very methodical and easy yes? I stepped in small and then kept adding into that I had forgotten was FED MINUTES. I had gains of 1.3% at the time of the minutes and my exposure was about 50% all long — lots of tech and biotech. Real shit stocks. This is off the backdrop that stocks are generally down 5%+ today, in an array of areas.
Immediately after the minutes came a big FREEDOM CANDLE developed and I bought one more stock, celebrating my genius. Then rape happened with that red FUCK YOU CANDLE. I bore witness to my +1.35% gains dissipate to almost nothing so I quickly sold near that last red candle. This is pro stuff.
At the bottom, I took a 10% position in UVXY and now we’re swimming the fuck higher again and all of the stuff I sold is ripping and now I am stuck with just 2 stocks and a 10% holding in UVXY — which is getting RAPED by Mother Market — again all off the backdrop of stocks still down significantly for the session.
My gains are now 0%, ebbing into losses. My approach was dreadful and I realize had I just went to the bathroom to urinate — this blog would’ve been filled with self-praise congratulating myself for being such a wonderful trader.
My options going forward: position for tomorrow morning and do nothing stupid.
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What don’t these punters get? Money is going to get very tight very quick. Debt rollovers are going to expose weakness and you will be tripping over dead zombies left and right.
But …. who cares! MOAR until the bitter end …
Fed Day swings are the closest I get to getting high these days…