If it wasn’t for my coal position climbing higher, I’d be sitting here getting my clock cleaned like the rest of you.
Since QE3 was announced, the market has been in a slump. You can paint the pig red, but it’s still a pig. Everything is going lower, led by AAPL. Even though the market is barely off its highs, the stock action is reprehensible.
I’m at a cross roads on many of my positions. My recent draw down has been swift, yet furious. If I sell, the likelihood of me getting back in before Halloween is slim.
It might end up being a VXX Halloween after all.
NOTE: On the five year anniversary of iBankCoin (11/12/12), a contest will begin for 12631 members only. The prize will be $2,000 and it will last until New Year’s eve. It’s a stock contest gentlemen. Prepare for games.