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Light Knight

Published 02/06/2018, 12:14 PM
Updated 07/09/2023, 06:31 AM
XIV
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Quite the morning so far, eh? It’s only 7:20, and I’m ready to call it a day. All this mayhem, honestly, I could do without.

Here’s where I am at:

  • Have trimmed from 200% short Monday morning to maybe 75% short now. In other words, I’m not even using all my cash buying power. I am still “in the game” with 30 shorts, but I’ve definitely pulled WAY back.
  • I have watched with some dismay at some of the puts I sold yesterday leap another 40-60%, but what can ya do. Hey, at least my entire net worth isn’t in XIV, right?
  • I now have to do what I am absolutely awful at, which is be patient. The market is going to be very skittish now, so a “fight back” to decent shorting levels isn’t going to easy.
  • Importantly, Dennis Gartman called for a big bear market last night (around the lowest levels of GLOBEX trading, naturally), so that gives me some confidence I’ve made the right choice.

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