They're just not going to make this easy for anyone, are they?
Last night, after the close, I was hanging out in the comments section, and I allowed myself to be persuaded that buying a big SPY position might be a good hedge. I jokingly referred to my fellow Slopers as "turd monkeys" for nudging me this way, but I'm glad for those turd monkeys this morning – – it has helped take some of the sting out of a painful morning for the bears.
I am long 36% (via SPY), short 63% (via a lot of little positions) and am 70% committed, meaning 30% is in cash. Today makes me lose hope that there's going to be any sustainable selloff between now and the end of the year. I just don't think it's going to happen, which is kind of too bad.
Anyway, capital preservation is key, so I'm keeping that big hedge with a tight stop in place. I guess ol' Santa has showed up after all.
