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The best thing I ever did in the last 3 days was not panic out of my short thesis. I kept the 2x NDX/RUT shorts from yesterday (heavy 100%) collecting 6% in each index. Haven’t seen a move like this in quite awhile.

I was also long EWZ puts, long POT puts, long EPV, long FXP, long BZQ, long EUO calls, long KGC call spread, long AUY, and a small long in PBI which I’m holding based on monthly trend.

I sold my POT puts pretty early in the day taking gains, although I really left a decent amount of coin on the table with these. Still 30%+.

Later on I sold the EWZ puts for 35% (I think), again there was more holding on. Then I took some intraday trades that didn’t work out, but didn’t really lose too much either. Bought FAZ, IWM puts, and DRV. 2 out of 3 were small losses, IWM puts made small gain.

I then covered my KGC call spread and AUY. Both for losses. KGC call spread lost roughly 50%. AUY small loss.

I kept my full position in EUO calls, but trimmed back my EPV, BZQ, and FXP positions, but still kept some, roughly a 1/3.

Currently my short exposure is very small right now, but kept the positions that are trending. I will reload these positions on a dead cat bounce. Possibly even take a long inside the next 2 trading days as we may be setting up for a bounce. In the old days I would get long today at the close, but I’m waiting till tomorrow morning to see what it looks like first. No need to ruin a good day with a lesser edge trade than what I had yesterday.

I will revisit gold this Friday. I like the pullback. China and Brazil charts look horrendous and should be cooked for the week. Brazil might be setting up for a weak bounce. Europe indexes are fucked. The Euro is fucked. The chart on the EUO is in full on trend mode.

Also the UUP is working well. I think the Euro going down is the better trade though and why I’m in that instead of UUP. However, UUP is working now quite nicely for those that like it.

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