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It’s a good thing I slept through this.
Below, on the /ES, the market climbed for much of the night for no particular reason. Yesterday we broke out above resistance, and overnight the market bested even that insanity, egging the bulls on based on assurances from their dizzy leader that the war is “over.” It would have been a dismal sight for your dear friend Tim.
I am loathe to cover anything these days, but I went ahead and took 30%+ profits on my Munro (MNRO) short, even though it was falling practically every day. I gave myself the excuse that it was getting close to its price gap, but between you and me, I’m probably going to regret this.
For all the anxiety leading up until today (I probably woke up ten times last night to see what time it was), it has been incredibly mellow. I have:
As for my dozens of little equity shorts, I have, as usual, merely examined them one by one and tightened up stop-loss levels where appropriate, which was in many cases.
As a person who is constitutional incapable of actually enjoying a moment, I’m already dreading when this amazing, exciting, fantastic market is going to shift back to its old annoying ways. Trust me, this is the kind of market I LIVE for, and since I’m having an absolute ball with it, a voice in the back of my head is warning me that some dillweed is going to spoil the party somehow or another. It always happens.
Look, all I ask for at this point is that things keep falling to pieces until at least Monday’s open. The reason is that – -and this is TOTALLY uncharacteristic of me – – I bought a ton of $575 SPY puts that expire on Monday. Again, I never do this kind of thing, but as of this moment I’m looking at a 300% profit on them, and I’ll be pissed beyond measure if I wake up and find out that, I dunno, Trump has TACO’d out somehow and stopped the bleeding. As I stand here now, however, the market is falling to pieces, and crucial support has been broken.
