It looks like my hopes and aspirations of a 5% correction will come true, as stocks take a beating this afternoon. Ironically, I find myself in a small funnel, alongside a plethora of novice investors, clamoring to get out. I am holding steady here, as my top positions hang in tough, none down more than 2.5%.
All of yesterday’s gains are gone, for me at least. And, given the current trend of panic selling, coupled with analyst downgrades, there is a good chance I will lose more money tomorrow. But, to be honest, you never can tell when you have crazy clams out there buying s&p futures.
My top pick is still PH. But on this dip, other names are worth looking at first. I like SFLY, FORM and CENX into weakness.
My current cash position is about 10% and I will look to bolster it by selling out of “non-priority” names, so that I can buy higher quality names if they dip some more.
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10 ….. votes that is.
Ironically, I find myself in a small funnel, alongside a plethora of novice investors, clamoring to get out.
Better step on their heads, as their is a thresher waiting at the thin end.
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A game son, bring it.
Jake, “their” ? What happened? Were you typing that on an iPhone or some other such device without a proper keyboard?
Brain flatulence.
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I am a proud owner of possibly the only hedge to be red today.
Fuck SCO in the ass three times.
Try SDS, SDD, QID.
I may grab some TZA tomally.
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yeah i would stay away from sco at the moment, there is an incredibly huge bid in the oil market these days… lloyd needs a new house.
GS being taken to the woodshed here.
Love the strategy of picking beaten down sectors. My Defense names: LMT, RTN, PPA and LLL are net green for the day. My financials; however, are getting beotched slapped.
My king-sized balls are getting crushed in a vise today as small cap names are being brutally ass-raped.!!!!
I have been hoping for a buyable dip all of 2011, as I have large amounts of cash.
It would amaze me to no small extent to be prepared and ready for a dip, as I have never before been prepared and ready for a dip, except one time last summer when I made money on a big down day due to a huge hedge I took out based on the PPT.
In fact, I have so many things I want to do once if we dip, the VIX jumps, stocks tank a bit, that I would actually enjoy a dip here… despite being net long and having a very bad day in several long positions…
Replace “dip” with “pussy” in your rant, and read what your subconscious really tells you.
to checklist.
I’m sure that made sweeping, epic sense man. 🙂
Thanks, that was my ROFL for the day
This is just a shake out… no fear.
PH is all about controlling industrial machinery and “stuff”. One of my top picks too.
Somebody will buy this company. Hope it’s not the Chinese.
POOF! Your Bullshit rally is gone.
Be gone, poofter.
5% – 7% market correction is all. Dip should be bought.
Buy the dips works until it doesn’t.
Treasuries killed GS in Q4. Me thinks Goldman got caught long in 10/30 year bonds in Q4.
It will work again. Trust me, O you of little faith.
I remember that blog from last april… that was funnay
It may be short lived but I am enjoying every moment of this day, I really needed it.
It’s all a stupid bubble anyway!
true…ala 2008….well the Junk Bonds are ala 2005…so double bubble.
I think the shorts are getting set up like bowling pins to get knocked around again. : )
Snapini
Mr. Fly could have joined Sachs of Gold and become a Partner , but noooooo, he wants to manage 7 figure piker accounts when he could have been a contender and handling 10 figure accounts. Too bad, sooooo sad.
When we get to the bottom of this ski hill we’ll get back on the chairlift.
Sachs of Gold is overrated. They are the Evil Empire, accessorized with gold-leaf note pads and embroidered handkerchiefs.
Joey do you think The V.King should be honoured [sic] with blogger status?
Why ask somkeone with such poor judgement?
I’ll take that as a yes vote from you…thks