Does it matter that I’m up 71bps? You must be bored of me always treating the blog like a trading diary. Well that’s just too fucking bad because that’s exactly what this is, isn’t it?
I was up twice this amount earlier but market forces removed it from me. A younger me would flail and complain about it and hold on until I got it back. But now I realize that’s stupid and it’s best to take the 71bps than risk the whole thing and get bogged down in actual losses.
I’m at 90% cash now, long just NEGG and OXY — perhaps pausing here before I decide what to do next. You know I want to sell it short. But the day is young and the market is resilient.
I’ll look for reasons to short, just like I did yesterday and I was unsuccessful in finding even a single reason. The best reason I have now is seasonality. Markets don’t do well in September. But I’ll need something a bit more tangible than that, like break neck energy prices in Europe, to really get stubborn about being a bear.
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Big Chinese stimulus. Are they rudely going to consume the stuff that they make? …instead of giving it to us useless eaters in exchange for our fiat? Short US sellers of Chinese manufactured good …i.e., US sellers of manufactured goods.