Update on Trading Session

We have numerous trading halts and the NYSE was broken for much of the morning, post $GME ramp. Since mid morning we’ve been diving lower and I have been trading frantically in an effort to stem the tide. My gains have been reduced from +0.75% to 0.3% and I am trying my best to be patient. However, the plunging nature of the market makes it difficult, with the down now off by more than 400. We went from risk aversion off to risk aversion on to collapse. The varying degrees of trickery are at play here and in abundance.

Nevertheless, I remain hopeful we can stabilize into the waning hours and produce something less than disastrous here. There are plunging bond yields coupled with plunging oil prices and cataclysm in the markets. If I didn’t know better, I’d say markets were pricing in a slower than expected economy, which only makes sense if you take the PMI numbers seriously and ignore earnings reports at $NVDA, $DKS, $BBY and other quarterly beats.

To make sense of my trading session, I will list my buys and sales here and open positions.

Opening positions were liquidated:
BITX sold 47.96
QCOM sold 209.9
TSM sold 156.56
TGT sold 151.93
BAC sold 39.98
HD sold 331.51
FAST sold 65.97
ADM sold 61.95
EBAY sold 53.98
RTX sold 107.66
BJ sold 87.3
HAL sold 36.5
BOOT sold 122.37
EXPE sold 114.23
CL sold 92.35
ULTA sold 391.4
KHC sold 35.21

Day trades
b byon 15.73
s byon 15.77

b sq 64.44
s sq 63.98

b tjx 104.63 open
b regn 997.23 open
b qsr 69.77 open

b se 68.68
s se 69.32

b bynd 7.88
s bynd 7.74

b okta 90.57
s okta 89.27

b fslr 276.67
s fslr 279.38

b mrk 128.65 open

b uvix 6.38
s uvix 6.51

b uvix 6.47
s uvix 6.63

b apd 270.47 open
b lly 831.95 open

b biib 232.25
s biib 228.34

b kmb 135.36 open

b etsy 64.39
s etsy 65.13

b meta 478.67 open

b hood 21.61
s hood 20.84

b lh 197.72
s lh 195.29

b mu 127.16
s mu 125.79

b fslr 281.22 open

b tza 18.18
s tza 18.49

b sqqq 10.18 open
b sqqq 10.23 open

b byon 15.65
s byon 15.51

b lot 10.09
s 1ot 10.40

b soxs x2 28.77 open

b sq 64.33 open
b etsy 65.38 open
b duol 197.19 open
b pm 102.16 open
b bitx 45.34 open

I bought $TZA for a hedge at 18.12
BOUGHT UVIX AT 6.38
BOGHT APD AT 270.47
BOUGHT LLY AT 831.95
BIIB AT 232.25
BOGHT AT 135.36
BOUGHT QSR AT 69.77
B BYON AT 15.65
B ETSY AT 64.39
B META AT 478.67
B HOOD AT 21.61
B LH 197.72
b $mu at 127.16
b fslr 281.22

bought $tza back at 18.18
B UVIX BACK at 6.47
b sqqq at 10.18

I sold $SQ at 63.98 for a small loss.
S OKTA AT 89.27
S BYND AT 7.74
S $FSLR AT 279.38
S SE AT 69.32
S $UVIX AT 6.51
S $TZA AT 18.24
s biib 228.34
s etsy 65.13
s $mu 125.79
s uvix at 6.63
s byon 15.51
s tza 18.49

I bought $SQ at 64.44
TJX AT 104.63
REGN AT 997.23
SE AT 68.68
OKTA AT 90.57
FSLR AT 276.67
MRK AT 128.65
BYND AT 7.88

In light of the fuckery occurring in $GME (Roaring Kitty revealed a $200m position in $GME) I am going to cash for the time being. The last time the $GME craze occurred it threw the market off kilter. I has bought $BYON briefly for a trade, since it’s heavily shorted, but then felt like a rug could be pulled at any second so sold it for a quick profit.

All in all, I harvested gains of 0.6%. The cost basis of my sales is in the previous blog. I will updated any buys in a new post.

The server is apparently fried, likely due to my mean tweets and the fact I am prone to yelling at customers. The Gods are obviously teaching me a lesson in humility and have stripped me of my Stocklabs, which makes is very hard for me to trade. After all, it’s all I use to trade and haven’t the slightest idea how to manage without it. That being said, as the servers get fixed and hopefully come back online soon, I will live blog trade here.

Here are my positions into the opening bell. I will update this blog when I sell them. New buys will be initiated and updated below until it gets too cumbersome and then I’ll start a new blog.

6% weight on all positions unless stated otherwise

BITX sold 47.96
QCOM sold 209.9
TSM sold 156.56
TGT sold 151.93
BAC sold 39.98
HD sold 331.51
FAST sold 65.97
ADM sold 61.95
EBAY sold 53.98
RTX sold 107.66
BJ sold 87.3
HAL sold 36.5
BOOT sold 122.37
EXPE sold 114.23
CL sold 92.35
ULTA sold 391.4
KHC sold 35.21

+0.6% pre market.

Bought $BYON 15.73 sold 15.77

Without delving too much in the nettles of our European servers and subpar customer service, memes were a delight inside Stocklabs and we had so many memes it broke the servers. So then we tried to fix it and the Europeans, being the inferior race of whites that they are, have been leading us down forked roads with traps laid in the weeds for us to step into and become frustrated.

We have a contingency plan and you ought to feel terrible for ruining my weekend with this sordid stuff. I will have you know, I have been attacked by all manners of people accusing me of nefarious doings, such as COLLAPSING the image upload mechanism upon the Trump verdict because, in some parallel universe I am anti Trump and would like to see LESS memes about Trump and perhaps about my person.

My apologies for this inconvenience and just know I haven’t meditated today and feel really terrible about it being down and might not sleep the entire day. God willing this will be sorted out by 4am trade.

I’m far too angry and feeeeel the need to pursue ‘dynamic peace’. I’ve always eschewed meditation because I felt it to be stupid and a waste of my time. After all, my time is quite valuable. However, it recently dawned on me, as many things do as you get older and less enraged, that there isn’t any downside to meditation, so I might as well try it out.

Almost immediately I found value in mediating in the morning and before bed, permitting my big brain to transcend and to slow things down a bit. People are generally frenzied when trying to do too many things at once, improper time management, which leads to a chaotic and unpleasant life.

Ever since I started meditating my racist posts on X have plunged by 15% and my desires to see my leaders swinging from a rope, or tossed from atop a mountain, is remarkebly unchanged.

My path towards dynamic peace will be paved with the bones of my enemies, their coagulated blood used as mortar, and I shall walk upon them knowing that all is well and life is the way it ought to be.

As we enter Pride Month and celebrate the alternative lifestyles of sodomy, be grateful for our forward looking mercantile leaders, otherwise said sodomites might be tossed off building tops in the Middled East.

Off to meditate right now!

Markets opened dispassionate and early going we saw proper rotation out from tech and into retail. I positioned alongside for there ride, selling my tech and industrials, and bought names like $BBY and $TGT hoping for a continuance.

Before the afternoon meltup occurred, we had various drops that I expertly played on the short side. My goal wasn’t to make money net short but to reduce my losses of current longs by 10bps here and 20bps there with the intent of eventually finding the pivot to ride it higher.

That’s exactly what I did and to be honest I haven’t been this focused on my trading in a long time. I had previously been sloppy and unfocused, taking for granted my early success and allowing my methods and discipline weaken. But these last two days were intense, as I micro managed my positions and built them using theories and shifted out of them for specific reasons, whether it be technical resistance or desire to lower or increase portfolio beta.

I say all of this shit as if it negates the fact the market did this into the bell.

There is some truth to the futility of our efforts when it comes to markets, but I am living proof that individual expertise can and will make the difference.

Nevertheless, I gravely underperformed my own Quant for May, booking a gain of 0.65% vs the once per month algorithmic based system Quant of +5%.

I can lament on that, just like I can lament on the overall condition of my country but that wouldn’t do me any good. Instead, I am focused on the future and optimistic things will go my way, because I am manifestly intent on bending the will of my singular fate into the positive.

Let me be clear: I am performing feats of magic to keep me in the game today, down just 10bps. I have been trading at peak performance today with optimal timing on my hedges, yet cannot seem to go green. Part of the problem with not being able to go green is this market fucking sucks.

The Chicago PMI came in at 35, a COVID era low. This is great depression level PMI stats and yet we are barely crashing.

The NASDAQ is down over 200, but probably should be down 2,000. My stratagem is to remain long lower beta names, whilst hedging these interminable declines, and attempt to time pivots to the upside with both alacrity and machine like precision.

When trading in a tape like this, it’s important to have a narrative and hopefully be right about it. Conviction helps when formulating a plan and if you’re in tune you can profit even on bad down days. Bear in mind, we might rally 100 NASDAQs from here, crushing the heads of those entering short now. The timing of your positions is just as important as the positions themselves.

Are you laden with high beta stocks that will leg down 5% on a 1% dip? If so, why are you doing that in a tape like this?

On this last day of May, I stand before you DOWN for the month by 0.54%. This is the first back to back down months I’ve posted in many years and I’d like to forgo such an indecorous condition by rallying into the final hours of trade.

My hunch is, the sellers are nearing exhaustion and we might rally soon. However, into that rally it’ll be a good idea to pare down the portfolio to its bones and avoid the close, which can get ugly.