Piss. Me. Off.
Wait, Tim, what’s your problem? I’ll get to that.
First, let’s take a look at the /ES:
Oh, and the /NQ:
Now, listen, following yesterday’s bullgasm and the overnight South Korea Rules mega-rally, I had a very specific plan in mine.
My hunch/speculation/hope was that the markets would approach, but not exceed, their highs from Monday. That was PRECISELY correct. With almost god-like prescience, I correctly called it.
Am I awesome, or what?
Well, no, not so fast.
See, my plan was as follows:
- I already was lightly positioned, with a mere 17 shorts (as opposed to 40);
- I had set appropriate stop-loss levels;
- Throughout the course of Friday, I intended to re-enter good positions at good prices and end the day much more aggressively positioned on the short side.
What happened INSTEAD was………
- Due to the absolutely madcap going on with tech stocks, I got blown out a bunch of positions at absolutely shitty prices (the worst of the day);
- Within moments, the market peaked for the day and entered a free-fall;
- I frantically re-entered most of the blown-out positions at rotten prices
So, it was quite the cluster-youknowhat.
The ONLY thing that went well today was my options portfolio. The reason is obvious: I don’t HAVE stop-loss levels on that, so I don’t get stopped out at shitty-ass prices that last for about the first five seconds of the trading day. So that’s as intact as {insert circumcision joke here}.
Suffice it to say I’m more than a little miffed at the market, even though it is doing PRECISELY what I hoped.
