Calling tops is stupid, therefore I avoid doing so at all costs. However, I will say we are heading back to 1,200. We will begin our decent soon(possibly into close, but certainly tomorrow).Keep in mind, if we break 1,245, then I would admit defeat and possibly go long.
Again, I see assholes watching some bullshit “triangle” formation waiting for it to break to the up or down. I’m taking signals from the market and it’s telling me everything is fucked. I see classic indecision and this is not a good sign. I’m loading up on some TZA here and expect it to hit one zillion dollars within the week. I would like to keep this position reasonably small, but may increase size into close. No promises.
I will update this post later tonight.
UPDATE: I’ve covered my small position in TZA, as I want nothing to do with this market. I feel like taking a vacation and I just got back.
Again, I find myself shorting weak stocks that will only continue to get weaker. I opened a short position in GMCR this morning and will be expecting them to announcement bankruptcy shortly. Yesterday was complete trash and I can only hope today will be better. I will be building my position today and soon expect to be short more shares then the EU needs Euro’s for that bullshit IMF bailout.
Correct me if I’m wrong, but didn’t the IMF just bail out the EU? Now the EU is bailing out the IMF? Excuse me, but what in the fuck is going on here? I haven’t the faintest clue anymore. The news changes on an hourly basis and trying to decipher the truth from the rumor is on track to be the plot for the next mission impossible movie. It’s absolutely fucking stupid and I’m quite sick of it.
There is no doubt in my mind that we move lower(short term who knows). The bulls seems to be grasping at straws and have about as much conviction as O.J on a murder charge. It’s fucking ridiculous in my eyes that people are looking for longs here. There will come a time when everyone is as bearish as me. Until that time, I’m going to be watching for shorts during all rallies.
P.S I have covered GMCR, and will be continuing my search for shit to blow up. I would like to make an effort not to over trade this market.
Can someone tell me why I traded my NFLX short for GMCR? I’ve covered that misstep and I’m looking for new fish to fry. I’m certain GMCR moves lower, but it’s to erratic for me. I’ll let someone else get squeezed on that soon to be worthless stock.
I traded my GMCR short, and doubled down on my AAPL short. I’m hopeful this trade goes better, but I have my doubts. I’ve had several failed short attempts the passed few trading days and I’m starting to wonder if this is a change in character. I wouldn’t be surprised in the slightest if AAPL had some retard rally filled with people buying for the “long term”. That is a ridiculous proposition, yet it seems the norm with names like AAPL.
At this point, I’ve had it. If APPL raises much further, I will be covering. If I get stomped out of this one(high possibility), I will be looking for some names to go long. I have several names in mind and will be buying in a fury if this short does not work out.
Updates may be hard today as I got shit to do.
UPDATE:Covered AAPL. I will be going long something, just not sure what.
UPDATE:This is the reason I hate splitting up my trading day. I don’t feel comfortable leaving a position without supervision so I cover at what turns out to be the top. I’m beyond angry at this point.
If you still haven’t realized we are in a bear market then you need a new hobby. I recommend fly fishing or coin collecting, leave this trading shit to people like me as I can recognize a trend faster then I recognize water on a rainy day. Granted, I will give you some slack as this has been a sloppy year and quite an erratic bear market. However, that does not change the fact that if you are still looking for long ideas in my opinion you’re in the wrong camp. You should continue to look for short ideas until this market can at the very least move above 1,300.
Bottom line, you assholes need to keep it simple. Quit trying to find a magic formula, that shit doesn’t exist. Quit trying to run these bullshit historical models that will blow you up when they are wrong. Learn to recognize a trend and trade with it. If there isn’t a trend, chances are that’s because we are in a wild bear market(such as this one).
I’m still looking for shorts, while keeping an eye out for longs. Trust me, I would love nothing greater then to buy MSFT, INTC, IBM, MCD and WMT. I would sit back and watch these names increase five fold in the next several years, giving me unlimited time to enjoy life. Unfortunately, that’s a fairy tale land; one I will never live in. Knowing this, I’m looking to destroy the world via shorting the market.
Maybe I’m wrong and this market continues higher. If that were to happen, firstly I’m sure I would look like a complete dick. Secondly, I would be going long. Currently, I’m in it for the short term till we can move away from this area of congestion. I understand the market will bottom on bad news. However, the news hasn’t gotten all that bad. Lets face it. We’ve gotten some weak economic numbers, but nothing has blown up.
Don’t ask me why, but I will share my view on the markets. My current thesis looks something like this. Weak numbers from the US and Japan will put a strain on the economic situation in the BRIC’s. While a default in the EU would push the BRIC’s into recession. Currently, a recession in the BRIC’s is already about to happen, check yield curves(This is probably because austerity measures are WORSE then a default). Problems in the BRIC’s will alleviate pressures in the US, via lower oil prices. Possibly, at a time when oil prices are SUB $60 I could see the market moving higher. With oil prices stuck around $100 the economy is in stand still. Without oil prices lower, I don’t see any reason to be long stocks.
The economy seems to be oscillating between economic growth due to low oil prices and economic contraction due to high oil prices. Seems to me that $100 is the sweet spot. Just cheap enough for the economy to work, but too expensive for the economy to work well. I could be way off in saying the above, but this is how I see things. I keep it simple.
I’ve been thinking about how bullshit this rally is. If you were wondering this is only a temporary pause before bears continue to rip faces off. This is one of those moments, whereby I have to stick to my convictions. My convictions being the market is completely fucked. I tried to play some AAPL shorts and as you can tell my timing was less then perfect.
I still believe many stocks move lower, AAPL included. Yet, I’m having trouble deciding on a position and my timing is obviously off. I will have decided on a position before close today, getting ready for a Monday filled with pain for the bulls. Till that time I will continue to size up this market, staying ever vigilant.
NFLX is getting ready to continue its decline to 30 and may be one of my prime candidates for a short.
My timing will blow your mind(Much like this video).
UPDATE:Shorted AAPL(Smaller position) and GMCR. I will add to these shorts if they decide to work in my favor.
UDPATE2: I have been increasing(in small increments) the size of my short position in GMCR.
My AAPL short from yesterday is working absolutely perfect. The market looks relatively strong, while AAPL is going absolutely nowhere, much like the high school dropout it is. Keep in mind, I’m marginally down on this trade currently, but this is peanuts compared to the inevitable drop in AAPL. It will happen, fucking trust me.
Every single market AAPL is waist deep in is becoming a fucking battle ground, one where the competition is willing to cut off limbs to gain market share. Don’t believe me? Check out AMZN selling tablets at a loss. What a joke. A company with razor thin margins is selling hardware at a lose with the expectations of profits on software? I think I’ve hear that one before. Check out SNE, see where that bullshit idea gets you.
Moving back to AAPL, it is becoming weaker by the second. The longer AAPL stays in this area of support, the weaker that support becomes. Pretty simple concept of mine. Support is great when a stock moves towards it, then away from it. When a stock lingers, or makes a second or third bounce off support then its a shitty support level, TRUST ME.
Bottom line, I’m going to make money. This is something you can bank on, like the fucking seasons changing.
UPDATE: I’m keeping an open mind here and if the market were to rise much more I may cover.
UPDATE2: Okay, this is completely fucked. I’ve covered my AAPL short after it’s being a fucking cunt. I’m going to move on from this, possibly look for a better entry. Don’t get me wrong, I’m in the short term game, and can’t take the pain of a large move that may happen before AAPL’s inevitable destruction. Limited my loss to under 1% on that trade.
I haven’t the slightest clue what to do right now. I slept in and missed the open. I would have liked to carry on my previous success with another NFLX or GMCR short, but it seems I missed my opportunity this morning. I would like to believe we continue lower, but at this point I don’t know.
In an effort to bring back memories of previous victories, I shorted AAPL. I see some significant weakness in the stock and shorting at these levels would allow me to let my short run. I believe AAPL hits the 350 level in the near future.
With the above said, I’m at a loss. I would like to push shorts here, yet something is telling me to take it easy and wait for something better to develop. I’ve been watching PCLN, CRM, CMG for short positions, but can’t seem to get the timing down. I had an active short on CMG over my vacation(stupid idea BTW) and it set me back 1%. I would also like to short those damn Canadian banks, but need a better entry point.
UPDATE: If you were wondering, chances are we close in the red today, but really I have no idea.Obviously.
Bottom line, I’m worried as fuck about a lot of things. The EU is on my list of shit I’m worried about, but far from the only thing. I’m worried as fuck with the US debt situation, and the possibility of either spending cuts or austerity measures. Politically something has to give, and either way it’s going to be bad for the economy.
I’m worried as fuck about the Japanese economy.
I’m worried as fuck about another housing/banking crisis in the BRIC’s(more specifically China, but also Asia in general). A banking crisis in Asia that would cascade to countries like Canada and Australia via commodity prices.(I would like to point to the inverted yield curves in the BRIC’s)
I’m worried as fuck about currency wars and protectionism. While, my only protection against currency wars is PM’s, yet those could be confiscated by the government at will and I’m worried as fuck about that. I also have in the back of my mind what Australia recently did(increased taxes on miners) and I’m worried as fuck about that happening elsewhere. The added political risk has me worried as fuck.
Don’t get me started on the middle east. I’m worried as fuck about that shit hole.
Fact of the matter is, there isn’t much out there that doesn’t have me worried as fuck. I hope you guys are as worried as me.
Moving to the markets, everything is fucked. I’m looking to go short, but not now. I currently hold no positions.
I came back from vacation and I hit the ground fucking running. My timely short on RY gave me a nice start, but my godly NFLX short is currently up over 5% in pre market open. I might be getting a little ahead of myself here so I will be locking in profits at open.
While, I do believe the market moves lower, I don’t want to be a pig. The market moving lower after I made my cut means absolutely nothing to me. I only care about making a little money then moving on to bigger and better things. I’m like the fucking mafia and I could care less if my timing is a little off. Give me my cut and I’m more then happy.
The question now becomes how much profit do I take? In a normal market, I would hate taking profits in a winning position(I like to let my winners run). However, this is far from a normal market and risk control is my number one priority. Keeping with my priorities I would like to cover at minimum half my position. This is by no means a final decision, but it’s close to it.
Updates to come.
UPDATE1: Covered 100% of my NFLX short. Chances are large that NFLX moves lower, but I will let others take that trade.
First day back and I’m killing it. I shorted RY with impeccable timing, while sitting on my hands waiting for NFLX to break the 74 mark. I entered my NFLX short close to my 74 mark and god willing I will hold this short till NFLX declares bankruptcy(quite possibly tomorrow with my supreme timing). I will be watching a hand full of stocks on the short side, while I also have my eyes on several key tech names for long plays. RIMM is tempting me at these levels, yet I’m not in the business of catching falling knives.
I’m staying vigilant and I would hope you are as well.
Calling tops is stupid, therefore I avoid doing so at all costs. However, I will say we are heading back to 1,200. We will begin our decent soon(possibly into close, but certainly tomorrow).Keep in mind, if we break 1,245, then I would admit defeat and possibly go long.
Again, I see assholes watching some bullshit “triangle” formation waiting for it to break to the up or down. I’m taking signals from the market and it’s telling me everything is fucked. I see classic indecision and this is not a good sign. I’m loading up on some TZA here and expect it to hit one zillion dollars within the week. I would like to keep this position reasonably small, but may increase size into close. No promises.
I will update this post later tonight.
UPDATE: I’ve covered my small position in TZA, as I want nothing to do with this market. I feel like taking a vacation and I just got back.
Again, I find myself shorting weak stocks that will only continue to get weaker. I opened a short position in GMCR this morning and will be expecting them to announcement bankruptcy shortly. Yesterday was complete trash and I can only hope today will be better. I will be building my position today and soon expect to be short more shares then the EU needs Euro’s for that bullshit IMF bailout.
Correct me if I’m wrong, but didn’t the IMF just bail out the EU? Now the EU is bailing out the IMF? Excuse me, but what in the fuck is going on here? I haven’t the faintest clue anymore. The news changes on an hourly basis and trying to decipher the truth from the rumor is on track to be the plot for the next mission impossible movie. It’s absolutely fucking stupid and I’m quite sick of it.
There is no doubt in my mind that we move lower(short term who knows). The bulls seems to be grasping at straws and have about as much conviction as O.J on a murder charge. It’s fucking ridiculous in my eyes that people are looking for longs here. There will come a time when everyone is as bearish as me. Until that time, I’m going to be watching for shorts during all rallies.
P.S I have covered GMCR, and will be continuing my search for shit to blow up. I would like to make an effort not to over trade this market.
Can someone tell me why I traded my NFLX short for GMCR? I’ve covered that misstep and I’m looking for new fish to fry. I’m certain GMCR moves lower, but it’s to erratic for me. I’ll let someone else get squeezed on that soon to be worthless stock.
I traded my GMCR short, and doubled down on my AAPL short. I’m hopeful this trade goes better, but I have my doubts. I’ve had several failed short attempts the passed few trading days and I’m starting to wonder if this is a change in character. I wouldn’t be surprised in the slightest if AAPL had some retard rally filled with people buying for the “long term”. That is a ridiculous proposition, yet it seems the norm with names like AAPL.
At this point, I’ve had it. If APPL raises much further, I will be covering. If I get stomped out of this one(high possibility), I will be looking for some names to go long. I have several names in mind and will be buying in a fury if this short does not work out.
Updates may be hard today as I got shit to do.
UPDATE:Covered AAPL. I will be going long something, just not sure what.
UPDATE:This is the reason I hate splitting up my trading day. I don’t feel comfortable leaving a position without supervision so I cover at what turns out to be the top. I’m beyond angry at this point.
If you still haven’t realized we are in a bear market then you need a new hobby. I recommend fly fishing or coin collecting, leave this trading shit to people like me as I can recognize a trend faster then I recognize water on a rainy day. Granted, I will give you some slack as this has been a sloppy year and quite an erratic bear market. However, that does not change the fact that if you are still looking for long ideas in my opinion you’re in the wrong camp. You should continue to look for short ideas until this market can at the very least move above 1,300.
Bottom line, you assholes need to keep it simple. Quit trying to find a magic formula, that shit doesn’t exist. Quit trying to run these bullshit historical models that will blow you up when they are wrong. Learn to recognize a trend and trade with it. If there isn’t a trend, chances are that’s because we are in a wild bear market(such as this one).
I’m still looking for shorts, while keeping an eye out for longs. Trust me, I would love nothing greater then to buy MSFT, INTC, IBM, MCD and WMT. I would sit back and watch these names increase five fold in the next several years, giving me unlimited time to enjoy life. Unfortunately, that’s a fairy tale land; one I will never live in. Knowing this, I’m looking to destroy the world via shorting the market.
Maybe I’m wrong and this market continues higher. If that were to happen, firstly I’m sure I would look like a complete dick. Secondly, I would be going long. Currently, I’m in it for the short term till we can move away from this area of congestion. I understand the market will bottom on bad news. However, the news hasn’t gotten all that bad. Lets face it. We’ve gotten some weak economic numbers, but nothing has blown up.
Don’t ask me why, but I will share my view on the markets. My current thesis looks something like this. Weak numbers from the US and Japan will put a strain on the economic situation in the BRIC’s. While a default in the EU would push the BRIC’s into recession. Currently, a recession in the BRIC’s is already about to happen, check yield curves(This is probably because austerity measures are WORSE then a default). Problems in the BRIC’s will alleviate pressures in the US, via lower oil prices. Possibly, at a time when oil prices are SUB $60 I could see the market moving higher. With oil prices stuck around $100 the economy is in stand still. Without oil prices lower, I don’t see any reason to be long stocks.
The economy seems to be oscillating between economic growth due to low oil prices and economic contraction due to high oil prices. Seems to me that $100 is the sweet spot. Just cheap enough for the economy to work, but too expensive for the economy to work well. I could be way off in saying the above, but this is how I see things. I keep it simple.
I’ve been thinking about how bullshit this rally is. If you were wondering this is only a temporary pause before bears continue to rip faces off. This is one of those moments, whereby I have to stick to my convictions. My convictions being the market is completely fucked. I tried to play some AAPL shorts and as you can tell my timing was less then perfect.
I still believe many stocks move lower, AAPL included. Yet, I’m having trouble deciding on a position and my timing is obviously off. I will have decided on a position before close today, getting ready for a Monday filled with pain for the bulls. Till that time I will continue to size up this market, staying ever vigilant.
NFLX is getting ready to continue its decline to 30 and may be one of my prime candidates for a short.
My timing will blow your mind(Much like this video).
UPDATE:Shorted AAPL(Smaller position) and GMCR. I will add to these shorts if they decide to work in my favor.
UDPATE2: I have been increasing(in small increments) the size of my short position in GMCR.
My AAPL short from yesterday is working absolutely perfect. The market looks relatively strong, while AAPL is going absolutely nowhere, much like the high school dropout it is. Keep in mind, I’m marginally down on this trade currently, but this is peanuts compared to the inevitable drop in AAPL. It will happen, fucking trust me.
Every single market AAPL is waist deep in is becoming a fucking battle ground, one where the competition is willing to cut off limbs to gain market share. Don’t believe me? Check out AMZN selling tablets at a loss. What a joke. A company with razor thin margins is selling hardware at a lose with the expectations of profits on software? I think I’ve hear that one before. Check out SNE, see where that bullshit idea gets you.
Moving back to AAPL, it is becoming weaker by the second. The longer AAPL stays in this area of support, the weaker that support becomes. Pretty simple concept of mine. Support is great when a stock moves towards it, then away from it. When a stock lingers, or makes a second or third bounce off support then its a shitty support level, TRUST ME.
Bottom line, I’m going to make money. This is something you can bank on, like the fucking seasons changing.
UPDATE: I’m keeping an open mind here and if the market were to rise much more I may cover.
UPDATE2: Okay, this is completely fucked. I’ve covered my AAPL short after it’s being a fucking cunt. I’m going to move on from this, possibly look for a better entry. Don’t get me wrong, I’m in the short term game, and can’t take the pain of a large move that may happen before AAPL’s inevitable destruction. Limited my loss to under 1% on that trade.
I haven’t the slightest clue what to do right now. I slept in and missed the open. I would have liked to carry on my previous success with another NFLX or GMCR short, but it seems I missed my opportunity this morning. I would like to believe we continue lower, but at this point I don’t know.
In an effort to bring back memories of previous victories, I shorted AAPL. I see some significant weakness in the stock and shorting at these levels would allow me to let my short run. I believe AAPL hits the 350 level in the near future.
With the above said, I’m at a loss. I would like to push shorts here, yet something is telling me to take it easy and wait for something better to develop. I’ve been watching PCLN, CRM, CMG for short positions, but can’t seem to get the timing down. I had an active short on CMG over my vacation(stupid idea BTW) and it set me back 1%. I would also like to short those damn Canadian banks, but need a better entry point.
UPDATE: If you were wondering, chances are we close in the red today, but really I have no idea.Obviously.
Bottom line, I’m worried as fuck about a lot of things. The EU is on my list of shit I’m worried about, but far from the only thing. I’m worried as fuck with the US debt situation, and the possibility of either spending cuts or austerity measures. Politically something has to give, and either way it’s going to be bad for the economy.
I’m worried as fuck about the Japanese economy.
I’m worried as fuck about another housing/banking crisis in the BRIC’s(more specifically China, but also Asia in general). A banking crisis in Asia that would cascade to countries like Canada and Australia via commodity prices.(I would like to point to the inverted yield curves in the BRIC’s)
I’m worried as fuck about currency wars and protectionism. While, my only protection against currency wars is PM’s, yet those could be confiscated by the government at will and I’m worried as fuck about that. I also have in the back of my mind what Australia recently did(increased taxes on miners) and I’m worried as fuck about that happening elsewhere. The added political risk has me worried as fuck.
Don’t get me started on the middle east. I’m worried as fuck about that shit hole.
Fact of the matter is, there isn’t much out there that doesn’t have me worried as fuck. I hope you guys are as worried as me.
Moving to the markets, everything is fucked. I’m looking to go short, but not now. I currently hold no positions.
I came back from vacation and I hit the ground fucking running. My timely short on RY gave me a nice start, but my godly NFLX short is currently up over 5% in pre market open. I might be getting a little ahead of myself here so I will be locking in profits at open.
While, I do believe the market moves lower, I don’t want to be a pig. The market moving lower after I made my cut means absolutely nothing to me. I only care about making a little money then moving on to bigger and better things. I’m like the fucking mafia and I could care less if my timing is a little off. Give me my cut and I’m more then happy.
The question now becomes how much profit do I take? In a normal market, I would hate taking profits in a winning position(I like to let my winners run). However, this is far from a normal market and risk control is my number one priority. Keeping with my priorities I would like to cover at minimum half my position. This is by no means a final decision, but it’s close to it.
Updates to come.
UPDATE1: Covered 100% of my NFLX short. Chances are large that NFLX moves lower, but I will let others take that trade.
First day back and I’m killing it. I shorted RY with impeccable timing, while sitting on my hands waiting for NFLX to break the 74 mark. I entered my NFLX short close to my 74 mark and god willing I will hold this short till NFLX declares bankruptcy(quite possibly tomorrow with my supreme timing). I will be watching a hand full of stocks on the short side, while I also have my eyes on several key tech names for long plays. RIMM is tempting me at these levels, yet I’m not in the business of catching falling knives.
I’m staying vigilant and I would hope you are as well.
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