8 pounds lighter. $SPX $ES_F plan Monday, December 23rd

Kinda like the long-side exposure, eh?

DISCLAIMER:

This newsletter is purely for educational/entertainment purposes and does not in any way constitute financial advice. The author is not a financial advisor and does not provide financial advice in any capacity. Any actions taken by the reader on the basis of the topics discussed herein is the sole responsibility of the reader.

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ANNOUNCEMENTS:

• I recently sat for a conversation with AlgoFlows from X (twitter). Had a fun conversation about trading edge, market efficiency, and options. You can listen to the podcast here.

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Introduction:

A bit of a different week for me. Someone was kind enough to give me Influenza A. I’m eight pounds lighter, and a bit foggy. Mostly irritated that I missed a large chunk of last week. Still managed to get some call outs for the crew in the discord but I spent most of this week alternating between sweating and freezing.

I have warned for the last 2 weeks that there was large uncertainty about the incoming administration. We have also discussed absurdly aggressive volatility selling that, frankly, was destined to be punished by the market. Even earlier this week, we discussed some particulars of price that made a downside break of our previous balance to be more likely. It seems that lazy contract rolls ahead of FOMC was the final straw.

The GOOD thing it did for us is bring back something different than 20 point range days.

Now that we have had an impressive liquidation (and taken the longs on Friday for the beautiful short squeeze), it’s time to get tactical. The next month or so will likely be tricky to navigate. This letter will not be short - and it will follow a slightly different structure than my typical one.

Because of the outrageous year my cash account has had, I’ve decided to transition to prop accounts most of the time and decrease my personal account risk. I grabbed Take Profit Trader (Referral code: GHOSTCAP69 for the best current discount) and Topstep accounts earlier this week. I am primarily trading TPT right now. These are, really, the only two prop firms that I both 1) trust, and 2) am okay with their rules.

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TODAY’S LETTER INCLUDES:

• My current position and management plan on $ES_F

• Current swing positions ($TSLA, TLT 0.00%↑ )

• Macro overview (VERY important this week)

• SPY 0.00%↑ $ES_F Plan/analysis

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CURRENT POSITIONS (Cash Account):

I am currently flat on $ES_F. There are some potentially huge swings shaping up, but none of them are from here. Patience.

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