I had 10% of my book in FAZ heading into today and another 10% in SQQQ because fuck the banks. Even with that allocation, I am down 1% today — mostly due to positions in energy/coal getting hammered — amongst other things. The problem here is believing.
Look at the market now, bid up from the lows. It would be very easy to jump in and say “OMG STOCKS ARE GONNA CLOSE GREEN AREN’T THEY” right now, only to be summarily executed into the closing bell.
The market cannot rally without banks.
The buy retail when oil drops trade isn’t working too good.
The macro headwinds are accelerating.
Do you see what the fuck I am saying here?
It’s over. The only reason to hedge is fear and/or concern for volatility. When I say hedge I mean hedge shorts with longs. This is a SHORT ONLY tape, regardless of what AFRM is doing today.
We have a rally going intraday- as is always the case following a morning dump out. The trade here is to begin ADDING to shorts as the market rises and then sit back and wait for the inevitable sell off.
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Must watch: The JPY and EUR.
Expect an “intervention” to weaken the USD if JPY > 150 and or EUR < 0.90.
"Intervention" means the Fed printing money.
Printing money means $BTC number go up.
The situation is fluid.