What a strange selloff today. The only explanation posted everywhere is the World Bank reducing their outlook for global growth. But seriously now? People, raise your hand: who sold because the World Bank opened their yap? Or did all you guys sell because you thought other people might sell and you wanted to get in front of them?

Be all that as it may, did anybody follow my live paper trade today on Twitter? The point was to demonstrate the use of scaling to slowly build a position at a favorable price. It did work to some degree and I think I was able to get the point across, but of course I’d have preferred a nice reversal at the end to end in the black.

Besides that, the put spread hedge that I recommended in early May is now turning out to be helpful after all. I’m also happy that my favoured utilities held up very well today and made it through the selloff almost unchanged.

Other than that, I don’t think anything noteworthy happened today. See ya ladies tomorrow. Let’s see if I can make it through the night here with all these constant storms..