ALJ is getting smashed due to the locale of their Louisiana refinery. An old saying comes to mind “be careful for what you ask for,” with regards to my earlier clamoring for flood waters to rise. At any rate, unless this flood completely wipes out their refinery, in my opinion, this is a buying opportunity. Therefore, I added to my position.
To hedge the drop in sentiment, I bought ERY, all done in my personal. Additionally, I sold out of EXK and TER, only for personal. The reason why I am doing this is because I am super charged leveraged in these names and cannot sustain large percentage drops. With WNR and ALJ dropping off the table this morning, I needed to do something to stem the losses.
For managed accounts, I am sort of riding this shit out, as for now. I want to see how the market responds to a bit of adversity before I make wholesale changes. As the Gods would have it, my cash position is incredibly low now, just under 7%. So, I am feeling the full force of this decline—at the moment.
More later.
NOTE: It looks like yesterday’s Hybrid Overbought signal was right on target.
You are blogging like the wind, Monsieur le Docteur!
____
alj buying opportunity was a couple days ago under 11
and that’s when I bought it.
Shut up.
nice job .. i will shut up now
What nice job? I am getting mushroom clouded here.
I told you so.
BANNED
I hope that was mainly for misspelling Loser again.
This is hilarious
http://finance.yahoo.com/family-home/article/112715/shutting-kids-out-family-fortune-wsj?mod=family-kids_parents
Fly, careful man. Hedge it with some 3x ETF bear product. Commodities are going south. Crude did a 50% retrace and has decided to turn south.
i bought ery
Ok…. keep watching oil futs. Above 101.11 is long.
Unless you expect a precipitous drop in commodity prices day-over-day the time decay on these things will absolutely slaughter you on any action besides down.
Shut up.
Rajaratnam just got rocked. Peace out fool.
Dude will be flying away soon if the judge lets him go on bail.
cracks down 10%….
aka down 2% from Monday.
Im with ya Senor Fly!!!! All in …
Daily fluctuations in Crack don’t mean much. They are at all-time highs. But if history is any indication, they are about to fall hard.
STFU you idiot.
Another thing to keep an eye on… The buck is your luck.
________
Fly you tha man. Crack spreads have all decreased in June for the last few years, you think that trend will continue? ie is your play that we get out of the refineries end of May?
everyday wnr gets more recognized by the news sources to the tune 100%,50%,75% respectively, day over day. from last friday, till now. the options chains for the next 3 months looks good up to 22.
Someone is stepping on my WNR
cme halts trading oil, limmit down,,,damn it