PREPARE TO SHOMP

I bought 250,000 shares of MU today, based on semi strength. As you can see, my current thesis is to be long tech, with SWKS, CIEN, AMD, VMW and MU buys today. I’ve been selling WNR throughout the day, in an effort to reduce exposure to commodities. I cut losses on my quick mistake, ZSL. And, I bought a fairly sizable call position in TZA, to partly hedge today’s buys.

My cash position, counting my TLT position, stands at around 50%. I will allocate a final 20% into tech, on news of some sort of solution to the European crisis. I’ve definitely pared some of my gains over the past week. However, it was never mine to begin with. I view the market as a game, not so much different from how you fucking idiots play X-box. When my points go down, I simply get them back. But this is a unique period for me, as I am very hesitant about putting money to work here. I am doing so against my better judgement and would not be surprised if I get torched on today’s buys.

But I must play. I cannot sit idle while fuckers like you make all of the money. My view is fairly static with regards to initiating shorts here: it cannot be done. We are down big and the market is deeply oversold. There is a strong chance that policy makers intervene and cause a tidal wave of short covering, a squeeze for the ages. Knowing that, I’d be nothing more than a big butted baboon if I started shorting ahead of such an event.

Pardon my sloppy trading over the past week, as I am in a state of transition. Once I get my thesis and strategy planned out, the sailing will be fairly smooth.

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