Did tons of macro economic research in the last two weeks, stared at charts to watch volume and understand market sentiment, checking 1s order sizes to see larger players enter or exit, etc.
I timed the top of the market when I saw AMZN (and the rest of the market) do a quick jitter down on the day of the top. Other people noticed it too but brushed it off. The medium sized sell made the price of AMZN, QQQ, SPY, etc move down way too much for the size of the liquidation. I took this as a sign of the market being very fragile and oversold so I sold all my AMZN (with margin).
Next day, market started it’s descent. This caused me to do all the aforementioned research because I’ve lost my money before on the first 2022 crash and I understand how important capital protection is now. I decided to be bearish on the market as a whole.
I decided that Jackson hole speech would be a catalyst for a huge change in the markets because of what the fed was saying vs how the greedy market was acting and not believing the fed and how they were pricing in a fantasy. Blackrock convinced me a bit too, since I’m sure they would be greedy if the risk was low, but they were ultra bearish.
I place my 130P SEP 2 puts, two nights before jackson hole, unfortunately AMZN went up 2.6% the next day. If this didn’t happen I should’ve been up $120k from the beginning.
Anyway, I kept buying and liquidating my put positions as the market ebbed and flowed down. I stopped today because I saw the inverse of what happened on the top of the market: very very low volume market buys we’re keeping the market up. The market should’ve been destroyed today, with the sell volume, but since the top side of the market is all wiped out, there are now huge gaps in ask sizes, causing it to moon upwards with ease. Another possible $100k+ day. I was up 35k and I waited out the action, until the aforementioned was too strong. Ended at 15k profit for the day.
Now ive deleted my trading app and I will time the housing market bottom and buy a nice 3 bedroom house for $600,000 CAD with a 20% down payment 🙂 Which will be the equivalent to an $800,000 house right now, pre-upcoming-crash
Thanks for listening to my story
