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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End of day stops

(Just before midnight, but logically today.) HG and CL closed out at reasonable profit (trailing stops).

Early morning stops

Z and ESTX50. Some life visible in European bourses. Probably le rebond de la chatte morte.

First Thoughts

UB bouncing around a bit. Not clear in which …

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Still reeling from the huge rally on Tuesday. Initial unemployment claims hit 3.3 million and the SPX goes up by 4%. This is truly an incomprehensible market.

PnL badly hurt by positions in RUT and TSLA and BA, all of which have rallied. The latter two, because they are …

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First Thing

Down 1.3% at the open, despite having taken a bracing position. Didn’t want to go completely market neutral as I believe that this market has further to fall.

As of 09:15:

• Bought 1 DX by accident. Was trying put on a stop, but didn’t …

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Today was deeply rubbish. Massive bounce of ES and other equity indexes. Too depressed to watch. Various stops triggered but didn’t stop fairly heavy losses, particularly on RUT and (bloody) TSLA.

See tomorrow for more detailed account.

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