This chart of the /NQ shows an amusing little emotional roller coaster I went through over the past few days:
From left to right:
- Red circle shows where I did a super-un-Tim thing and, instead of buying puts that expire eons from now, I bought QQQ September 2nd puts;
- Green circle shows where I bought even more, even though the /NQ was strengthening;
- Magenta circle shows where I got out at a 70% profit and felt oh-so-smart;
- White circle shows where I felt like a limp-wristed moron;
- Teal circle, today, shows I am glad I got the hell out!
So, yeah, playing with fire seriously isn’t my thing. I prefer the puts I’ve got now, which have freakin’ 140 days left on them. Do you realize how much can happen in 140 days? A lot!
Anyway, I trimmed yesterday, as I said, and I did a bit more earlier today. I’m at a nice comfortable 20% cash and have 27 positions I’m happy to just weather this storm. Below are a few current positions with some sensible exhaustion points for this bounce. Let ’em bounce. I’ll just short more!
