Would you look at that — it appears I’ve sneezed my way back into an official trading slump.
My LABU position has gone straight to hell, taking my PNL with it. It was down a little bit at the open and then I felt emboldened by the small uptick around 10:15am — so much so I even bought a tremendous SOXL position just for good measure. I really wanted to make sure that I’d enjoy the rally to come and that I make the maximum amount of money humanly possible.
Instead of that happening, as it would, the exact opposite occurred. The semis topped and my LABU position first languished and then COLLAPSED, leaving a trail of blood and tears in its quake. I am now saddled with the unsavory position of having GRANDIOSE intra-day losses and my lands salted by the ineptitude of our science community.
If I close out these positions, I simply resign my post as trader for the session and start anew tomorrow. It would not be the first time I made a mockery of myself. But part of me wants to keep going — which is the part that I know is dangerous and also stupid. The fact of the matter is, science is dead and no one really cares about doctors, let alone people in a lab coat. We all have more use for barbers in a lab coat than some guy concocting the great next vaccine that kills people, wantonly, when they least expect it. These people have proven, through their actions, to be inept, sort of like me right now trying to trade.
Even though the semis are nearly PINNED TO SESSION HIGHS, I have still managed to box myself into a corner on that position too, now down 1%+ from my basis.
Look, I had a good run — but now it’s apparently over — just like Pax Americana. It was nice while it lasted — but all good things end and in replace of it is evil.If you enjoy the content at iBankCoin, please follow us on Twitter