Aaaand we’re back!

Managed to make it out alive of (South) Lake Tahoe despite an exciting & long weekend of drinking, debauchery, various arrests, and a couple of fights.  Oh, and an amazing football game to boot that made yours truly a fair bit richer as well.  A last minute strategy shift (from a multitude of prop bets to just a simple Saints money line) paid off handsomely.

Through the alcohol-induced haze, I barely even gave a thought to that amazing Friday turnaround and how I thought it would simply destroy all my holdings come Monday.  I did set a few protective stops, but mostly just let it all hang out – wildly trusting my mathematical tea leaves.

And, lo and behold, here are we are on Monday night actually a fair bit lower than where we ended on Friday!  I suppose this then fails to “confirm” that ginormous hammer candlestick (were looking for long white one, ideally with a gap up to start), for whatever that’s worth.

To “pile on” another bearish sign, we got a “Death Cross” on the SPY as the 20-day sma dipped below the 50-day for the first some since mid-July.  Granted, that July occurrence quickly gave way to renewed buying (the 20-day was back above water in just 8 days), but previous to that, this same Death Cross correctly identified several major selloffs.  Will this be a repeat of July (finally ending this extended “dip”) or are we headed for a triple digit S&P 500 once again?

Plus, Mr. Bilderberg’s orders are to short, The Fly is in fucking Romania, and even the classic BEAR CAVALRY motivational poster makes an appearance.  Run for your lives!!!

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Current portfolio:  100% short and ready to step further down the slope (except for the occasional SPY calls), this time with “full” long put positions (as mandated by the Death Cross – starting with AMZN @113.75; RIMM @65; VOD @21.38).  Did take profits in a couple names towards the end of the day: