I added to my EXK position, making it my largest position by size. With today’s slide, I am down about 3% on it, so far. Additionally, I added to my REXX position and started a new one in AKS. Oddly enough, I sold out of my second largest position, CLF, in order to raise more cash, following this mornings give back. Essentially, I am conflicted between the Asshole Dip Buyer thesis and something that has much to do about black flags, smoke and bustling metal. Needless to say, because of my confusion, I have opted for my 40% cash position to remain intact, as well as my SCO hedge.
While tech, banks and select oil trades, like HERO, look good to go, other sectors are struggling. There are many people out there nervous about buying into this market. However, I implore you to understand something: there is a strong bid underneath this tape, thanks to end of year bullshit. This is not imaginary, but a fact.
Sometimes the quick money, through fast trading, spoils a person rotten. Next thing you know, you are unwilling to hold stocks that trade lower, for fear of giving back. Well, I am guilty of such crimes right now. However, I am not willing to sell everything, since I think we have upside left. Plus anyway, I have no issues, whatsoever, with giving back some gains, in order to stay the course. I am the George Bush of investing up in this bitch.
Basically, I am shutting the trading software down for the day. SHUT THAT SHIT DOWN! I will continue to blog, giving you ingrates updates. But as far as buying and selling is concerned, I have made my bed and it’s not a very bad bed at all. As a matter of fact, the mattress is quite nice, fitted with small sticks of dynamite and hot coals.
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Banked some DANG coin today….easy money….
Banked some YOKU coin today…..easy money….
And you call yourself a trader
I am not a trader, goat fucker.
Still long CCJ?
First Again
at what?
Classic: “I am the George Bush of investing up in this bitch.” Thanks.
Me too. Gonna go do some tree farming stuff today.
Sounds nice. Xmas trees or other stuff?
I bought some RDN on the dip at $7.50. The reaction to the MTG news of book expansion and less delinquencies should also bode well for RDN. I like the risk/reward in RDN to $9-10.
+200% on the calls in about an hour.
One of my hobbies is rubbing cheese graters across my face
Does it help your complexion?
do they call you pizza face too
Ive closed my gold and crude shorts…i will buy a near term dip.
Watch what happens whe BAC crosses 12.00 and INTC 22.00.
Idiot traders like round numbers.
Some must watch online documentaries.
The Money Masters.
The Prize.
The Century of The Self – The Happiness Machines.
Guns, Germs, and Steel.
Journey of Man.
Commanding Heights.
Manufacturing Consent.
Biographies of Mcnamara, Ataturk, Tesla
Money as Debt
Globilization and the media
What we still don’t know
These are also on http://bodocus.com/ but possibly in lower quality (but longer segments). These should be a good start!
I recommend them roughly in the order presented.
I remember Money Masters. If it is the one I’m thinking about his whole thesis was greenbacks like the ones Abraham Lincoln issued during the civil war are the answer to our monetary crisis.
Certainly worth watching even though I believe in an asset backed currency.
Agreud!
yes, me too, done… time to make some jewelry for x-mas gifts.
Got any pictures?
Gotta be as nice as the cycles you build.
here are 3 pieces, all in solid white or yellow gold, south sea pearls, diamonds.
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/jewelry/sDSC_0001-29a-1.jpg
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/jewelry/sDSC_0001-48a.jpg
http://i717.photobucket.com/albums/ww171/HardlyTheArtist/jewelry/sDSC_0001-52a.jpg
nice.
First.
I’m off to eat a sammich.
A thought about day trading.
When good news for a sector comes out and the stocks in that sector don’t react or go down, then the news is built in and there is only way to go and that is down.
See Mexico news allowing private Cos. to drill now and the OIH etf which is treading water with HAL and DO down about .75%.
thanks for the update fly and your perspective. saw tons of people cover on crude so i sold out of my SCO. bears think they might win today but i am guessing after the 1pm auction — BOO-YA. long 10,000 UCO 11.50
Falcon 9 launch this morning was successful! Dragon spacecraft is now in orbit. 🙂
Maybe I can strap one of those boosters to the top of a Tesla?
Or like fly, strap your tesla roadster to one (dynamite batteries) and fly it to the sun!
How I celebrate banking coin.
http://www.youtube.com/watch?v=XJUtk2bwXqA
Did I mention how much I like WAB?
Bondzilla speaks at 1pm on the 10 year auction.
We either pump or dump from there. I expect the PD’s are sellling off bonds and front running this auction. 10 year will go smooth and the PD’s will dump everything they bought for a sweet profit.
If the auction goes bad it’s going to get FUGLY
added to CSTR making it my largest holding. nice support here on daily uptrend line. will take business from NFLX -Comcast drama!
Is anyone else showing RINO back in play?
Yeah, it’s trading again.
Hey Fly going on a Hunt with your brothers.
Good Day for it
TLT getting smashed upside the head.
woosh gold woosh silver how bout that.
Good time to add to both. I personally hope they both drop even lower going into January, I don’t own nearly as much as I want to yet.
The goal is to collect PM. Collecting dollars is for wage slaves and Disney fans. The dollar is a game of musical chairs. Every time you are on the buying side of a PM trade you are robbing who ever is selling, no matter what the price is. The dollar is worthless and temporary. Never forget that.
I shed a kitsch tear for all of you who believe in the universal fantasy that is fiat currency. Enjoy your brotherhood of man. I am a realist.
You had me at “Good time to add to both”. Saying more is ruining the moment.
Good. Don’t ruin my sale price.
I’ll sell you some silver here…
I see you have some ZSL.
Just beware that it is an ETN set up kind of weird and for the taxes you will be getting a K-1 partnership tax form.
And then about 6 revised forms into August.
Pain in the Ass.
Ouch!
tradercaddy, see above.
Beautiful.
You do outstanding work.
The best part is you are doing what you love.
Reminds me of my Dad who used to make jewelry (and paint and sculpt).
He graduated from the Art Institute of Chicago but did that on the side because he was unable to make a living at it.
He designed many of the graphics you see on the old Bally pin ball machines (pre- Fonzie), outdoor furniture and cabinets.
thanks, and cool deal for your dad…
luckily, I have been able to make a living doing my art my entire life.
where I lack is this stock market game, that is why I like this place, lots of top guys here giving us their insight
Fireball. My Fav
I liked Fireball also.
I used to hang out at a place from the U. of Fl. and live an hour or two off of one quarter at the pinball machines.
My Dad designed the first machine (for Bally) where you slide a “puck” across the alley and knock down the pins.
I recall the Company allowed my Dad to bring the machine home and he stuck it in our basement (in Chicago when I was about 8 or 9).
In later years I would see them in bars from time to time.
tc,where in chicago?
Park Forest suburb
One of those post WW 2 baby boom burbs..
1953- 1966 and then moved to Miami.
way south,funny,i live right next door to a burb named forest park.lol
TBT Gettin’ smashed upside the head.
nothingburger on the 10 year auction. Rally away bonds!
News of the we’re screwed variety: http://money.cnn.com/2010/12/08/retirement/savings_nest_egg/index.htm?section=money_latest&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_latest+%28Latest+News%29
Taking my Christmas balls to the office party tonight.
AKS P/E 170
EXK P/E 82
REXX P/E 70
Aren’t these a little high?
Trying to value an O&G company (REXX) based on P/E is not very smart.
I wonder if Fly took off early to get his new teevee?
WTF!
Fly buys EXK!
JAKE GINT sells EXK!
Who’s right?
Both
I am
the jake has been in the pm space for a looong time.and even if he didnt sell,and the pm’s go down,he still has made a bundle.1: its’ when you get in,2: how long you hold.3: position sizing. he’s had all 3.
As a new reader, who experiences massive trouble restraining falls to the floor in laughter whilst reading your blog, two questions arise: a) does LeFly have a legal background and b) do your approaches include directional / advanced options to your, primarily, low cap positions? Merci.
Yes!