Not My Tape

Real psycho action this morning.

Rates are sharply higher. Why they’re higher remains to be seen. Maybe just because.

Oil is knee jerking up and I get it.

The Dow and small caps are higher but the NASDAQ is lower led by big tech. I don’t get this, especially after $CRM and $SNOW beat.

VIX is up but $UVIX is down, naturally. The persons who made the VIXA ETFs should be arrested and executed. No trial needed.

I covered the wrong hedge this morning and have TZA left, much to my chagrin. I’m down 60bps and don’t think I’ll make it back today. We’re likely to trade slow and sloppy. I’m better off trading less in a tape like today, where oil is the star. Often times when oil or crypto miners are up early, they fall prey to sellers throughout the day and cascade the fuck lower.