Good day —
I was positioned courrectly and stand before you +125bps for the session. I caught some winners early and pared them down, then hedged with a $UVIX position into the crevasse, booking a 6% gain in the process. I am now unhedged, long mostly commodity stocks, 63% cash.
I am sanguine on this tape and believe it to be ok, in spite of the shit quality of the runners. Even so, I am not compelled to buy just yet and will bide my time waiting in the tall grass, in hopes of spotting a weak zebra straying from the pack, at which point I will chase it down and bite it’s fucking head off — enjoying a delicious meal and feeling good about it because of my effort.
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