I’m not sure.

The market is at a collective oversold point though right now. However, this feels like Oct 2008 where the market blew right through anything oversold. This is the reason I’m about 90% in cash.

I was in and out of FAZ and TZA around 3x today making money on almost every scalp. I should have held though into the close as they finally broke through the without the same volatility during the intraday session.

I own the EUO, the Short Euro, etn. Shorting the Euro is getting alot of coverage lately and I’m worried that its ready for a snapback. However, I will just add to my position when that happens. EUO or DRR will both give you double inverse the performance of the Euro. I was long DRR and swapped over to the EUO.

I also added to my DRYS calls positions today. I’m taking a shot here in the oversold zone. Strictly a technical trade. These are underwater right now, but for a brief moment this morning this trade was positive. If tomorrow there is some form of a pop, I would be looking to get out, and that is probably the wrong move, so I’ll fight my urge to take little profits.

I bought XOM June 75 puts.

Thanks for reading

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