2nd April 2020 (Jerry’s birthday)

Stops and limits

OK, overnight, a few stops were triggered, with some modest downside. Your short in DJ600 went again. The good thing was that this has dropped your risk level a lot. Because of the insane volatility, this is a good thing.

Morning

Closed out: RDXUSD, DJ600, FXI PUTS, MXEA. Mainly stops. Not too bad. Can stand a longer market excursion.

You tend to close out your winners too soon: you are looking sick on BA puts & RUT puts (although after a good day yesterday).

Best performance is FXI. You closed out quite a chunk of this overnight.

You bought some GC via stop.

Afternoon

BX closed at slight profit.

ESTX50 closed at loss (rising market)

Bought more EURN cfds and one NAV put.

Opened a posn. in CACC. Decided that the crash is going to flush out some of the naked swimmers.

Closing for the day

OK, Trump tweeted out the fact that he’d talked to MBS on the phone to persuade KSA to restrict supply of crude. You can bet your 409(K) that his cronies all got the tip off before he tweeted. Anyway, everything shot up, but it was short lived. I made a few hundred dollars by shorting CL at the peak and then selling it as it glided down. I was one lot Larry: I don’t have the capital to make big bets. It paid for my dinner. Otherwise got lucky on LK. I had some modest puts on the ADRs and the stock just cratered when it was revealed that there was fraud in the co., just as Citron said there was. A few positions were closed out by the spike. I just hate Trump for being such an asshole. BX, ESTX50. I bought more EURN and STNG (because the position was stopped by the spike). Hopefully, Trump’s antics will lose their effect. He can’t do much about the real economy, and goosing the stockmarket is just going to push regular investors away as the decay from Trumpian spikes loses them money when they (inevitably) buy the stocks the insiders are selling.

Decided to check out what Citron is short of and shorted INO and FLT. The recent price behaviour looks favourable.

I fancy shorting Fly Leasing. Based on a skim read of this article. Not sure yet whether to plunge. It sounds a good idea.

SA article support’s Kuppy’s case for going long tankers. CPLP, DSSI, INSW, LPG, SBLK reccommended.

SMAR seems to offer some collaborative spreadsheet solution. Doesn’t sound like a long-term plan. Although MS could always buy it for silly money and destroy the thesis.

Stephan Ong is bullish, for accounting reasons.