The market is punishing greedy shorts with African spears through the helmet, or BLACKWING 602 pencils through your smugness. Tech is leading the way and treasuries are rallying too. As the Gods would have it, everyone is making money, sans leprechauns who overstayed their welcome in the gold trade. I know, I know, never bet against a “bull market.” But what is a bull market and when does it end? Many argued not to short the bull market in dot coms, housing or biotech crazes, until they deflated like sex dolls.
With my money, I’ve been adding to positions all day, especially FFIV. I am enjoying massive melt ups in my options account, long VMW, FFIV, CIEN and SWKS.
Do not misconstrue my optimistic tone with security. I understand the underlying risks and the sensitivity that possesses the souls of our biggest money managers. They are without spines and exude cowardice.
Having said that, I reduced cash to 30%, so effectively, I am fully invested here. The only way I buy more is if urinal shadows club me to death. As for my TZA position, I am in the process of closing it out.
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ADDING to my TYP “SHORT” here (ie. averaging down) fwiw
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Thataway Pete Rose, when a pitch hits you in your good eye…lean into it.
So … let’s recap shall we ?
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I have added a bit more to my existing TYP “SHORT” (ie. averaged DOWN) !
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NET SHORT …with a bit of a LONG “hedge” !
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I am NOW Currently :
~ 60% SHORT (via TYP avg. $22.39)
~ 10% LONG (via FAS “hedge” avg. $12.19)
~ 30% CASH
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Actually UP +7% on my remaining FAS “hedge” ! fwiw
We shall see how this plays out !
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make that UP +8.5% on my FAS “hedge” !!! LOL
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Hey Golden Shower – No matter how you calculate it, you are losing money.
And relative to a 2% up day…you are losing relative performance big time.
Maybe you can’t see that with the pitch you took in the eye.
I would sure hate to be LONG SKF here !!!
Just sayin’ !!! 🙂
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YOU ARE A LOSER TODAY, ALF.
The true sign of a genuine trader is one who is able to admit when he is losing. It’s ridiculous that you are only highlighting your FAS gains, while 60% of your money is losing. When you go about your internet career as a braggart, you must be able to admit defeat.
None of us WIN everyday … NONE of us !!!
That is not the issue !!!
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The issue … for ME at least …
is to trade with a (short-term) bias …
… be HEDGED if my timing is a bit off …
…and to ALWAYS have CASH to adjust my positions !!!
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And, finally … I will “admit defeat” …when and if that happens !
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ah hem … make that UP +10% on my FAS “hedge” ! ROFL
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By my calculation, you are down about 4% today in a market that is up 2%.
Don’t quit your day job.
By my calculation I am “building a SHORT” position …
… while at the same time making profits on the LONG side !!!
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And this IS my “day job” !!!
Watch and Learn !!!
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Well then you better like living in your Mother’s attic the rest of your life.
give it a rest, Jake !
Jeeez !!!
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I hate those fucking urinal shadows. They block the light when I’m picking out the gum stuck beside the piss mints, and I don’t see all that well.
ummmmm I hate the smell..shadows are ok
Melting faces and face plants are fun to watch.
Always good times when the bearded one appears.
Love the deflated bear photo. Bravo Jeremy
As a Bear, This action is so strange because the AUD/USD is not joining this ubber rally in the Eur/USD. Tech and Financials are up, but commodities not here at all. The Eur/USD has a fibo resistance at 1.3548ish it should be faded soon.
Make that ubber rally a rubber rally in that it expands and contracts with the slightest effort and one day soon will have a stress fracture.
Very True..probably after Sept 21.
fly
great call on tech
i think the semis are the tell..
btw anyone notice that euro bad news does not really matter any more? it gets bought right away
we seem to be more sensitive to our own economy
yeah, PPT is now OVER BOUGHT !! IN your face melt down is coming
Not tomorrows economic numbers are loved.
No it’s not. Now you’re banned.
How’s that “sell the news reversal” short at 119.15 (SPY) Dougie Kass??
Stubborn shorties are getting Krugmanned ROFL
I think someone needs to re-read last night’s post.
Don’t spend too much time at the tavern.
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And, FWIW, a “trend” usually ends when the market forces that created it are taken away, a la “the punch bowl.”
If the punch bowl were gone, you’d know it.
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adding to my shorts, this is nothing but a bull trap …
Not if economic numbers in the morning are better than expected. Have a nice sleep tonight.
how can the economic number be good ??? just how ??? it is going to be so bad that I am 100% sure this is a bull trap …
1260 is already in the cards … next week you will be slapped in the face with multiple slices of pizza and kicked down an elevator shaft… just saying
I like the way you think sir.
by the fucking way, my shorts are killing me, it get ripped away from me and I am naked …
A 50+ /ES price range today with room to run tomorrow. Damn !!
“The CNBC Clowns” is the name of my new band
Who wants in?
This market is ABSOLUTE FUCKING COMICS
FLY – use this image for your closing comments
http://www.google.com/hostednews/afp/slideshow/ALeqM5iphrKIev36lJATlXnKc48uvjDSQw?docId=CNG.896de1096470bc0c4dc74f022ee2ddcd.691&index=0
He can’t… Fly voted for the WNR replacement.
badump-cha!
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