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 …

There are comments.

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 …

There are comments.

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 …

There are comments.

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 …

There are comments.

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 …

There are comments.

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).

There are comments.

4th/5th April 2020

Worth a look:

• Brief thoughts on the loss of 701,000 jobs in the US. Credit Writedowns newsletter. Good on the market being in denial.

There are comments.

22nd April

Overview

Equities up a bit. No real direction. Commodities calming down, but Brent dragged down by WTI.

You tried to reduce your margin. Big use is a massive hedged short put in SBUX. Put a limit order to close this out at zero. Can’t even remember how …

There are comments.

21 April 2020

What’s happening?

All the press is discussing the fact that the settlment price for April WTI was negative $37! Seems amazing, but of course when there is no storage, you may have to pay for the privilege of delivering to someone.

As always, a green print …

There are comments.

Your stop order bought 2 ES overnight, and you added one, as the trend is still relentlessly bullish in the US. To balance up, you sold one FTMIB. You trimmed your gold holding, but bought one SI contract. It’s very volatile, but Fleck suggested there would be delivery problems …

There are comments.