I have been fuming – – absolutely fuming – – about yesterday’s absolutely ridiculous, reason-less, base-less, out-of-the-blue surge that took place in the markets. It has been a searing obsession in my head.
It’s the sheer randomness of it that bugs that hell out of me. Rigged games simply aren’t my cup of tea. It’s not like at 7:00 a.m. PST Thursday there was a scheduled announcement from that jackoff Powell. It isn’t like they announced a proven cure to Covid. It isn’t like a new program was revealed that gave another one billion in free cash to every billionaire in the country to stimulate the economy. It was just………out of the blue.
And I worked damned hard for these positions. In an organic market, the bears would be scorching the earth right now. As it is, these days a two-day run (that is, Tuesday and Wednesday) seems like an amazingly fantastic trend, and we should all be grateful for it.
Instead, my hands are practically shaking every time I fire up the iPad in the pre-dawn hours to see whether the ES is red or green, and by how much. I breathed a healthy sigh of relief this morning when I saw the bulls were getting their butts kicked again, but as yesterday so aptly proved, it honestly doesn’t mean much. The firehose of so-called “liquidity” (free money for the banks) is the never-ending threat.
So, here I am, dressed in a lovely pink taffeta prom dress and a shiny new set of heels, daintily waiting for the trading day in between antique shopping and – – were barbers still available – – getting my hair done. It’s absolutely ridiculous. In a sane world, I would not only be short the 48 positions I’m already short, but also the 100 others in my Bear Pen that are positively delicious short setups.
Want to know the only thing making me feel good these days? Slope’s plunging popularity, which I shrewdly predicted in mid-March. I’m serious. The fact that this site has no paid advertising means I honestly couldn’t care less. Slope’s premium subscribers – – God bless you all – – are near a record number, and they are responsible for funding our continued development. We’ve got some dynamite products back in the lab, which I’m looking forward to rolling out. So to all your free accounts, say an extra prayer tonight for your premium brethren.
Anyway, here at the pre-open, I’ve got 48 equity shorts, 5 option puts (long-dated), and a commitment level of merely 112%. If you’re looking for me, I’ll be the one sitting in a chair with bows on it at the far side of the gym with my legs crossed.