The most important thing a person can have, especially a trader, is confidence. Today exemplified my magnificence, coming off a ‘Miracle Session‘ on Friday — where I turned lemons into lemonade and erased a 600BPS deficit.
Today is no different, only such that I needed to maintain my gains instead of making anything back. I came out of the gates running with a +13% winner in SQQQ. I then and quickly went on a trading tangent, yielding a net positive result — but a dreadful slog of trend reversals. The main goal by 3pm was to preserve my gains, which has been 200bps. I hedged with inverse ETFs and then added to them with conviction as the market waned.
I then took some overnight longs just in case — but my position is net short and I ended up 0.75%.
UBER – wash
Sounds great, right?
Because I reimplemented my Quant on the first of September, I have been getting my ass hammered, as it is a market perform allocation of some of the ‘best’ stocks in the world. It fell by 3.5% today and is OFF by more than 13% for the month. I cannot stress this enough when I say — losing money in a quant model feels so much better than when I do it myself. I know the money is the same and my wife certainly won’t appreciate being driven to the poorhouse in an antiseptic quantitative fashion. But I still feel good. That has to count for something.
We are in the midst of a dreadful rout and although I’d like to tell you, for the sake of my fucking quant, all is going to be well — I cannot. The air has come out from the FAANG trade and Tesla is finished — off by 20% alone today — because it wasn’t added to the S&P 500. Whatever.
Truth is, there is a reckoning coming and it’s all because of you — the faggot TikTok investor who trades thru Robinhood. You sirs are scourge and shall be cleansed from this pallet, cast far away from the gentleman market and into something more of an abyss. The Davey Day Traders of the world are limited. Enjoy them now, for soon, they will will transmorph into fucking skeletal dinosaurs to gawk at and show your kids where once a moron lived.