My WNR is loaded up with viagra and ready to go. If you are saddled with a bunch of TZA or another short vehicle, I strongly suggest being patient with your next average down. There are many shorts trapped in this inferno funhouse and sky is the limit, with regards to the S&P. It’s all relative, as the market doesn’t trade on the laws of reason. Eventually, the rubber band will snap and you will make your coin, short stocks. However, just like when markets spiral lower, the key here is to survive. It makes no sense to buy TZA here. I am long TZA and will likely buy more, but not today.
Let the market breathe a little. People want to feel good about themselves again. I dare say, let them bid the shares of JVA or FFIV, as if this was early 2011.
My positioning is next to sublime, even though I am not fully participating in today’s rally. I accepted that fate when I sold on Friday. I will wait for the buyers to burn out, then shoot them as they descend lower.
For now, my top picks are WNR, CVI, TCK, JVA and short EXH. EXH is very weak, despite broad strength in the oil patch.
UPDATE: I sold out of JVA, north of $10.50.
[youtube:http://www.youtube.com/watch?v=TPu5ORNiUos 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
This is kind of unbelievable, as I think I’ve had the first “lucky” experience with options in my life.
I had sold October $19 calls on my WNR position back when they were fat (WNR was in the 18’s at the time), but they were getting to the point of low marginal returns as WNR got into the 12’s. So I sold them at 30 cent last week.
And I meant to immediately rehedge w. more sold calls… but the phone rang and I just forgot.
Whew!
_________
Forgot…really?
Yeah, I have a lot of positions. If I’m not hedged “right away” on all of them, it’s not the end of the world.
Some I don’t hedge at all. WNR was goin’ nuts, however…
______
I shouldn’t talk…I once added one too many zeros on shares purchased…Doh! Margin account allowed it and turned out to be one of the best daily trades in my life. Sometimes better lucky than smart I guess. Still was an idiot move on my part.
is 30 cent any relation to 50 cent?
That’s his midget little bro.
_______
In all seriousness, this is the best iBC video to date, in both content and production.
NICE video. L’ing O L ovah heah.
Can’t wait for the Rick Ross remix.
Oh, and your winship?
Flawless, as we have come to expect.
Good day, Sir.
I am roasting inside the brazen bull with my fucking ultra short ETF …
Shut up.
Best hold by Fly was TCK. The way that thing closed Friday, that was a great hold through what looked to be a reversal
Given the low volume, a bear raid is coming…just a question of 1:30, 2:30, or 3:30.
Be prepared
I don’t recall the PPT calling this rally on Friday? What gives?
It didn’t. That does not mean I am 100% short, does it?
Well isn’t it supposed to? Mathematical precision and all that?
Last I checked, I am making money today. To sound off like this is 100% troll-like, considering you should understand the type of environment we are in. I’ve repeated countless times that this market should not be shorted in size and that algorithms cannot read the minds of policy makers.
Lastly, unless you have a crystal ball, you have no idea what the market will look like in one week.
I agree with that last line.
I should have gone with my gut and held on to my longs on Friday. Oh well, I still made money on the trades, so can’t complain.
Fuck the socialist…2nd set.
11 – 11- 11.
__-__- __.??? Huh. ______________________
V.Prince’s birthday I think.
V.King, before I forget, I find it incredible that IBC has permitted your posts to be “Lost in the Sands of Time.”
FWIW: I would like to commence a voluntary V.King blogs strike force here. I think your realm of understanding and Ur royalty domain creates much IBC loyalty.
Anyone who agrees, reply with a written thumb!
I sold out of this market – does that mean the bottom is in?
Come on FTK – it has a 1/2 length lead on WNR rounding the first turn! FTK quality always rises to the top.
What happened to the MS bankruptcy you f-in clown?
Are you talking to me?
Just in case:
BANNED
The market is tuck, flat lined at S&P +33.
Anyone with intelligence understands after all the volatility that this does not make sense.
Today the market is not math, it is clearly being managed at a specific level.
Insiders were in at the right direction with global QE being announced (China, Germany, US).
RUTting Bulls are looking like they shot their load here Fly.
If most of this morning wasn’t short covering then I’m not Angela Merkel
uh…so you are Angela Merkel? Or is this market not mostly short covering?
Oh, I see what happened. AFTER I went to sleep, China Govt Owned Biz is flooding cash into their Banks to support them and the Shanghai Market. They tried this in Sept of 2008 and supported it for about a month until it fell apart in Oct 2008.
“It makes no sense to buy TZA here. I am long TZA and will likely buy more, but not today.”
Agreed, sir! Almost time for a bull hunt but not quite yet.
This market is nothing more than a snapping turtle.
Now this should really piss off the Fly.
NOVATO, Calif. (AP) — Authorities in the San Francisco Bay area town of Novato are flapping about the theft of a park statue — a 700-pound bronze pelican.
The Marin Independent Journal says the statue, titled “Omay” — a Miwok Indian word for pelican — apparently was stolen over the weekend from a park near Scottsdale Pond.
The statue was commissioned by the city council in 2007 at a cost of $27,500. It is 9 feet tall with a 10-foot wingspan.
Novato police say it may have been stolen for its metal but the motive isn’t clear yet. They’re offering a $1,000 reward for information leading to the thieves.
I double that reward if it is returned intact – no missing body parts and before 11-11-11.
I hear #ows has a finance operation. http://nycga.cc/donate/ Trading shops should open their windows and start flooding the street with some of the profits being made. Helicopter Ben shouldn’t have all the fun.
Bot TZA@42
SPY at the top of downward channel…will serve as resistance…or new support. Odds are pullback to lower end of channel from here.
Like a turkey buzzard getting pissed and hungry. Or an owl prowling for critters at dawn and dusk, will the S&P break the necks off the perma bear… triangle/flag/channel-thing?
With nothing but my belief that US’s election cycle demands a move up, I see many people’s shins getting cracked tomorrow. I pray you shorts only a sprain.
That was a really entertaining video. Well done, sir.