Shit Close; Asian Trade Looms

That was terrible pin action towards the end of the session. I traded well all day, successfully milking the market for 1 to 2% scalps throughout an otherwise stable session. And then after 3pm things started to roll over and then there were some Iranian rumors and we folded hard into 4pm.

My sense is that the recent selling didn’t occur in a vacuum. I do not believe the crisis is over and we will see if the NIKKEI confirms my theory tonight.

I took out a massive 17% $TZA position after 3:30 to hedge against potential upheaval, which still leaves me net long but greatly reduces the beta of my portfolio. The best you can do in situations like this is tactical trading to supress losses and hope to not fuck things up too bad.

Based on data inside Stocklabs, the best time to own $SQQQ is on Thursday, going back to April.

Here is the breakdown of its returns.

I see after the close $ABNB shit the bed and I, unfortunately, am long. It’s only a 2.5% position but a move like this, now off by 13%, still provides a dent into my forehead and there is nothing I can do about it but wait. Some of these stocks will undergo bumps during their growth phase. I have seen many an $AMZN call go wrong and the stock collapse on its way to 10,000% returns. For some of the more established companies like $ABNB, if you like it these dips are opportunities to add for long term holds.