I started off today in the garbage, yet I was able to turn everything around in the blink of an eye. My AMZN short went less then spectacular, yet I was able to makeup my losses and more with my RIMM long. Crazy. RIMM could hit $16 before retracing, yet I had to cover as the movement was looking a bit parabolic. I traded my RIMM long, for a MCD short as this stock looks like shit today. Amazingly, as MCD has done nothing but go straight up for months YEARS. As previous mentioned, I got in on the break of the December 29th low.
I will also be watching for a retrace to get into some longs. Truth be known, that I have my doubts about this rally, but I will participate regardless. I won’t let my bullshit ego get in the way of making money. That is the last thing I ever want to happen. I want to trade the market in front of me, not the market I wish were in front of me.
My 2012 pick of the year was a APPL short. This was a strategic play, nothing more. I will explain. If I were to pick some bullshit stock and win, I would look okay, but not a genius.
However, if I pick an AAPL short as I have and win, or even come close to winning, I will look like a fucking champion. I will look like a god, who knows all in the past and future. I will gain followers and be regarded as an oracle of sorts. This was my plan with picking my AAPL short. This was something I picked up reading Peter Lynch. I’m not sure if exposing my scheme will ruin the results, but I could care less.
I’m watching everything, some longs and some shorts.
UPDATE:Looking to enter an AMZN short once again. Keep in mind, I’m still watching for longs, but see some weakness materializing.
UPDATE: I shorted RY. The failure to continue higher after the gap is telling me this thing hit a brick wall. This is an exhaustion gap IMO. I’m also watching MCD, may consider covering. This has been a crazy day.
UPDATE: Covered, MCD. I will be trading my MCD short, for RY shorts. I made a small gain in MCD, but nothing significant. I have a mediocre short position in RY currently, but will be looking to increase my position on weakness.
UPDATE: I’m not getting the weakness I was looking for in RY. I have not added to this position and actually have covered it in an effort to gain a better perspective.
