In short…

We are long disruption. And that is the end of it.

And those of you that are following us since early 2016 know that we have had many such instances of market volatility and we kept adding to our positions.

We do have hedge in place in the form of QQQ puts. And we hope it will expire but otherwise we will keep rerolling it just in case of a big selloff.

Pain is likely to continue until people get extremely scared and stop trying to buy the dip.

The lessons we have learned from crashes is not to get out of the market when speculative activity soars. Instead the lesson is to avoid specific stocks that are speculatively valued (risky) and to be highly skeptical of ineffective and dubious businesses that claim they are sure to maximize on galvanizing new trends. That is why stock selection is extremely important in these environments.