I, too, am fuckfaced.

This owing from recent stock operations in a certain $MRVL, aka. Marvell Technology.  The story starts like this: recently I have been utilizing The PPT with great success.  Earlier this week, $FIRE was flashing multiple hybrid and technical “OVERSOLD” signals.  Historical results have been fantastic, take a look for yourself:

Tuesday, these signals were popping up on my OS screens and I decided to take action through the purchase of some Sept 50 calls @ 1.80.  Well, the trade has worked out very nicely.  In fact, the feeling was so good, that late Thursday afternoon, I wanted to parlay my profits from the $FIRE trade into some $MRVL for the “earnings gamble” (going with the Sept. 14 calls).

A number of other option trades I had made using PPT signals were also working on Thursday, so I was “feeling it”.  Hell, I even bought more $MRVL calls late in the day.

The count was 3-1 and I was sitting on the hanging slider.

Well, we all know how things turned out.

Now I sit on a pile of essentially worthless calls and am fuckfaced.  Not because of the loss (as I was merely using profits from the $FIRE trade), but because  I am 100% to blame for my lot in this trade.

In the end I broke two of my most important rules: 1) don’t follow anyone for any reason (even someone who’s market knowledge and prowess I respect as much as  “The Fly”) and 2) do not get involved strictly for earnings.

I deserve everything I have received, and these contracts deserve to expire worthless.

I didn’t work for this trade.  It was a bullshit whim based on an urge to gamble…not sound research.  Pure garbage on my part.

My best to you all.

-EM

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