If you look at Slope’s trading rules, number VIII (that’s 8 for you non-ancient-Romans) reads as follows:
VIII. EMOTIONAL AWARENESS IS YOUR GREATEST ASSET – Feeling super-confident and giddy? You should probably be in all cash. Feeling demoralized, frustrated, and out of synch? You’re probably close to a great entry point.
Hmmm. How has the Timster been feeling lately? Demoralized? Check. Frustrated? Check. Out of synch? Czechoslovakia. That’s probably why I woke up at 3 in the morning and stayed up until I got up.
It thus makes abundant sense that, on a day in which the /ES is up over 60 points and the /NQ is up over five times that much, that I’d actually be having a profitable day.
For instance, I doubled my put positions in Crowdstrike (CRWD) yesterday, and although it was strong earlier today, it is defying the market now.
My insane position that I started on Wednesday, Carvana (CVNA) I likewise doubled-down on later the same day, and………..so far, so good.
Don’t get me wrong: this has been one lame-ass week, and I honestly have no clue how long people will sniff Trump’s fumes and get a contact high. Like I said earlier, these doe-eyed delusions could last until this autumn. Still, on a day in which the market is EXPLODING higher, it is truly gratifying to see 7 of my 10 bearish positions down, and have my portfolio actually grow on the day.
It’s all too true in this kleptocracy. The Tom Lees of the world have it easy (cosmetics and undergarments budget notwithstanding). Tim Knight has it tough.
