Background to this blog

I had a pile of markdown stuff from my time as a councillor, which was turned into a website using the hpstr template for jekyll. TBH, I never really understood Jekyll, and I found hugo pretty difficult to use. I’ve been getting into Python more …

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15th April 2020

OK, last week has been pretty awful. The Fed went all in on stimulus and there was a face-ripping rally of all risk assets. You lost a lot. Ugh. Lots of stops triggered. Yesterday was also a risk-on day, and you lost money, although you did sell …

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Friday 17th April 2020

OK, I’ve kinda gone delta-neutral on my long long-dated puts on TSLA, RUT and BA with shorter-dated short puts. This was a smart move. The market has been rocketing lately, for no obvious reason, as usual. At least I haven’t been damaged too badly …

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1st April 2020

Trades

• (Late yesterday): NQ, GC both sold by stop
• (Early this morning): ES & 3333 (China Evergrande) stopped (this and previous at a loss).

SX7P option sold via limit (up $10K).

• at desk this morning: sold 9 SX7P futures, to rebalance the hedge at a $3K loss,
• 5am …

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20th April 2020

Overview as of now (4:20pm): equities quiet, CL down 8%.

Your trades:

• trimmed TSLA to edge a big more -ve,
• sold some calls vs short cash because … stonks!
• pyramiding the Incredible Hulks trade. Not sure it wouldn’t be simpler just to short CL,
• bought one …

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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 …

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6th Apr 2020

Morning

Couldn’t bear to open TWS. Indexes in Asia and Europe bouncing on slightly reduced rate of increase of cases. I can’t see this bailing out the companies, but the market is looking for a reason to bounce, and found it today.

wolfstreet property mutual …

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April Overview

Current state of play

Oil is very weak on a combination of demand and supply. Donald J Pump made it go up 5% on 3rd April, but surely it’s trend will not be reversed. The “Incredible Hulks” trade should survive, but DJP has badly injured it.

US …

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Friday 3rd April 2020

Morning

• Sold to open: AAPL, Z, DJ600, RR. Bearish. AAPL was yesterday, but late.
• Closed: SX7P fut. No longer hedging very modest put posn.

Summary: transferred £xxxk to fund mortgage, so now maint. margin is ~50% of equity, so quite high risk. Stops on everything. Biggest …

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23rd April 2020

What’s working

Incredible Hulks (tanker stocks) and gold.

What’s Not Working

RUT short and TSLA short. CACC, SBUX (long!), INO,

What’s marking time

EEM, EMB, BTP,SX7P, VNQ, ZAR (all these short).

CL (short Dec, you’ve basically broken even so far).

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