The market makes a fool out of me from time to time. My previous blog was alluding to the grandiose excellence of the price action. As soon as I published it, we collapsed.
Now the NASDAQ is encroaching on -100.
Here’s what I’m doing.
I kept the TNA, TMV, EUO, and added to TMV. For higher beta hedge, I took a 5% position in UVIX, and believe it or not I also added to my TNA and will continue to catch it as it falls. If I can find the right equanimity and heft in my weightings, I’ll be able to pivot quickly when and if the market turns back up.
I gave back 40bps of gains and now sit +45bps.If you enjoy the content at iBankCoin, please follow us on Twitter