I BOUGHT THE DIP

I was going to short the fuck out of the tape because I really really want the market to collapse. But then I thought twice about it and conjured up all recent dips and how THEY mechanically stop markets from careening lower when needed most, so then I covered my shorts and kept a 70% long book, 30% cash.

My positions are moderate and if we bounce tomorrow, I won’t make a huge amount of money — but perhaps enough to erase todays -0.5% decline. I rarely get taken to the woodshed in any large drawdowns, since I play both long and short — as a professional risk manager should. If I was ONLY bullish, I’d be dead right about now.

Much of what we are seeing in this tape can be viewed cathartically via the Elon Musk twitter feed, who is absolutely losing it. Here are a few examples.

Apple has mostly stopped advertising on Twitter. Do they hate free speech in America?

— Elon Musk (@elonmusk) November 28, 2022

What’s going on here @tim_cook?

— Elon Musk (@elonmusk) November 28, 2022

Did you know Apple puts a secret 30% tax on everything you buy through their App Store? https://t.co/LGkPZ4EYcz

— Elon Musk (@elonmusk) November 28, 2022

Apple should publish all censorship actions it has taken that affect its customers

— Elon Musk (@elonmusk) November 28, 2022

pic.twitter.com/uKEY9mVujp

— Elon Musk (@elonmusk) November 28, 2022

My bedside table pic.twitter.com/sIdRYJcLTK

— Elon Musk (@elonmusk) November 28, 2022

I’d be lying if I wasn’t entertained and hooked into the whole “FUCK THE ESTABLISHMENT” cunts vibe Elon is giving out. But then I remember he’s the wealthiest man in America and, like Trump, enjoys hearing himself breathe. I won’t be fooled into advocating for Musk — but will secretly enjoy and support him from the rafters. It’s important to have balance in all things and even though Musk has short comings, like all of you, he is serving a purpose to expose his ilk — which is partly demoralizing, partly invigorating. I haven’t made a final decision on this chapter in The Ending of Pax Americana; but it’s damned well entertaining. That’s for sure.

Ok, let’s hope for some upside tomorrow, so that I can sell and profit and then sink lower when I throw some shorts back on.