I was walking down a dark alleyway by myself after the close yesterday and got my jaw punched loose by the Ghost of Larry Ellison. I had an $ORCL position heading into today — but I do not anymore. Small Caps are surprisingly strong, led by all various types of degenerate stocks. Ergo, I swapped out my $TZA hedge for a smaller $SQQQ.
What I did next I am partially ashamed of: I purchased a handful of longs to bulk up my net bullish position. I realize the market is down and oil is sharply higher — but I just wanted to profit real fast and quick before the eventually collapse. I swear, this is my final series of long trades ever.
I had losses of 1%, reduced down to 70bps, but now stand at -90bps. It seems my foray into the long side was a bit presumptuous for the time being. In classic Pax Americana fashion, it seems I want to have my cake and also eat it too.
On a side note, I was talking with my wife last night about taking tests as a boy fearful of whether of not I was equipped with a #2 pencil. You have to understand the context: my grandfather practically raised me and was born in 1914, was something of an artist, and had endless pencils from who the fuck knows when: the 1920s? I’d go in there armed with #3, #6 or some unmarked pencil thinking my exam was going to come out corrupted because it wasn’t the requisite #2. This was very traumatic for me, heading into pitched battle with #3 odd shaped pencils in tow, racked with uncertainty.
As I discuss fucking pencils, my entire portfolio just Titanic’d itself, now down 1.05%.
Off to triage.If you enjoy the content at iBankCoin, please follow us on Twitter