My personal aggressive account has gone through some ups and downs this year, mostly due to the leverage associated with the account. It started the year about 970k, shot up to 1.35mil and plummeted to as low as—brace yourself–450k. The 450k valuation occurred when WNR was sucking wind in the $14’s. I sold some WNR on a slight recovery, but held many shares until the recent spike to $18-20. Coupled with the WNR recovery, I’ve had some triple digit and high double option wins in TZA, VMW and CLF, with minor gains in others.
In addition, I recovered some lost coin in TZOO and more recently in GSVC/GORO. At the present, the account value is about 950k, about flat for the year. This account was 100k last year, so I am still way up. However, most of those gains were in my FTK position, making more than 300% on that stock alone.
I do not recommend that you mirror this type of trading, for it makes no sense in the long term. Just to clarify a few things, regarding options, the account is very small. I do not take more than $25k in exposure at one time. Also, if a position goes against me, I am very quick to sell out, knowing the rapery that is attached to time value depreciation.
Typically, I wouldn’t bother with a micro-cap $55 mill company, like GSVC. However, this little stock is unique in that they are basically a publicly traded VC fund. I fucking love that model, especially while we are in the midst of an ipo boom. Check their portfolio and judge for yourselves.
With GOOG earnings beat, I like VCLK and maybe RLOC for a sympathy bounce. Maybe tech rebounds on these numbers. Either way, I am not a buyer, just yet.
Kind Regards,
Master Chef Fly
Hilarious
[youtube:http://www.youtube.com/watch?v=FzmAEQzZJ5Q&feature=player_embedded 616 500]
If you enjoy the content at iBankCoin, please follow us on Twitter
Master chef Fly – do you use Whole Foods charcoal or a gas grill when you engage in the culinary arts?
I use a flamethrower.
I try not to even thing about options as they have fucked me more times than I care to remember. But , I wish they had leaps for GSVC.
If they did, the bid-ask spread would be huge enough to drive a tractor trailor truck through. And they would fluctuate so much over time that stock holders would make more money than option holders. And the Monday after the call option expired, the stock would shoot up to the moon. That’s why people stop trading options, if they have been foolish enough to start.– other than a very few like Fly who seem to know what they are doing.
Ummm, Just sell the options and collect the premiums. Boring I know, but it works for me. They say something like 90% of options expire worthless, so put yourself on the 90% side once in a while.
Nerves of steel man, good stuff.
dAmn fly I wanna be like u when I grow up.
Not meaning to be presumptuous but it may be a good idea and put at least half of the account into a safe account ( CDs, T Bills, etc.)
Then forget about it and trade the other half.
You have a growing family and you never know what may happen.
Life happens.
And never forget the lean years you had as a stockbroker.
You are assuming this is my only account. This was an experimental aggressive account, established last year, seeded with 100k.
Very valid point.
Then I throw it out to some of those who may not be in the same position.
Life throws curve balls (Roy Halladay type curves).
Maybe diversify with some gold “clad” commemorative coins off the teevee. They might be sold out by now though…. you needed to act fast! Earlier in the week quantities were limited and you could only buy a certain amount. Maybe Mrs. Fly saw the commercial and placed an order for the family. I did the math and they contain about 70 cents worth of gold and they are, as I recall, only 19.95 each shipped to your door.
****All investments involve risk, and coins, currency and bullion are no exception. You should consult with your independent financial advisor regarding whether an investment in rare coins, bullion or rare currency is right for you.****
Freshly caught mountain trout cooked on a stick over a wood campfire! Fuck all you dilettantes. Flame this.
Flyseph, you made iBC Financial News. Congrats.
I’d like to reel the guy with the fishing rod in, he was quite nice looking.
I started off the year with $674,713.92 and now I have $661,465.48 a loss of $13,248.92 or 1.96%. Very disappointing! For all the trading that I have done and to be down nearly 2% sucks!
Jtu
That’s one good day of gains. You are basically flat.
Rockin’ with full on my nuggets.
_____________
“grip,” full grip.
________
JTU,
You should fire yourself and hire someone with a little more skill. Or atleast invest in hores. Just saying.
regards
chuck
Don’t listen to Chuck.
You have plenty of time to turn it around.
As always, Chuck delivers a no-nonsense, straight to the point, hilarious post. Homerun.
I stumbled across one of his earliest known writings from grade school (hasn’t changed a bit).
http://www.dailyhaha.com/_pics/hores.htm
All in good fun. I couldn’t resist.
Chuck, what are hores?
Just asking!
Damn birds always gettin’ in the way:
http://www.youtube.com/watch?v=5fPRuRX_ftA
ahhh FTK – thanks for that one Fly
do you the the white house will show leadership? congress has asked for a plan, a number or guide lines but nothing has come about. we need a leader not a manager, until we get a clear plan we r screwed, so im in oil gold period, but tight stops
no,his finger wagging old lady has more balls than him
buying siri, small pos…2.26
in trading acc.
lol, dumped siri, cpi empire no,,,sheesh
That was a newscast I would watch again. American news takes itself so seriously. That was great.