About

I was pretty busy today. I had to have my French conversation class at Maggie’s house and I also went to the Club to listen to Partho Shome talk about taxation and India.

Looking at the opening and closing trades, it’s not at all what I was …

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Trades

Opens

Futures: SPI, FTMIB, GC, MPC (ASSIGNED), HSI, MXEA, ESTX50, 9434(SOFTBANK). All sales except GC

Options: Z June 18‘21 5600 Call (sale)

Closes

NQ, GE, Z CALL, all stopped out

Summary

Got a bit carried away with profits yesterday and decided to increase exposure at time of …

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No trading today (obviously). Ridiculous ramp by Donny yesterday evening, announcing huge stimulus package. The FED has restarted QE and has pumped unprecented quantities of cash into the banks via repo madness. There seems to be some evidence that the virus is fully under control in China. In Europe, the …

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Monday 16th March

Emergency rate cut by the Fed again, 50bp, down to 25bp. Smells of desperation.

Lost some money on UB but panned out.

Trades:

ESTX50, FTMIB, N225, K200, Z

All sales, all futures.

Options markets now getting very illiquid. No quotes in OOM puts in most things including …

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Starting to be fearful of any continued (short) equity exposure. Markets have gone down 30+%. At some point they will bounce. Still short, and with loose stops because intra day fluctuations are large. Covid-19 is a severe headwind for the global economy. The big worry now is that markets will …

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Note that I didn’t make any contemporaneous digital record. I did make some notes on paper with a pen though, and that’s what I’ll use as the basis of this note.

Early

• Sold ESTX50 and ES via stop,
• closed UB, DX at profit via stop,
• closed FTMIB …

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Usual drill: checked Twitter and tried to get a feel for the open. Mondays are spoopy because the US is still in the weekend. Feeling was bearish (but … I’m a perma-bear so what’s new). Hopefully, today will be free of any further massive govt. stimulus and bailout operations …

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The week begins! The tail end of last week was pretty brutal, but nothing over the weekend gives any succour to the bulls.

Last Friday stops resulted in your getting a couple of short positions in ES and NQ. Small profit. Set up stops, just in case.

You hedged your …

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First Thing

• 10:14: BOT GE, R
• 10:14: adjusted stops, kept fingers crossed.
• overnight, SX7P was stopped out
• 10:38: feeling bearish, shorted MXEA, R and NIY.
• 10:39: decided that US short term rates are going even lower: bought GE.
• 11:18: got cold feet and closed my …

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Chaos overnight: Saudi declared war on Russia and pushed crude prices down to $32

• 00:03: sold some more softbank (9434)
• 01:49: Somehow bought 4 AUD. Think this was a left-over stop. Anyway, made money on it!
• 06:17: sold Mar Z.
• 06:33: bot GC (chaos, not inflation …

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