I am not going to burden you with my problems, whining about being 140% invested with most of my stocks down 3% for the day. When I read other people do that I want to take their heads and drive it through a god damned windshield.
This is my first day of heavy losses in more than 2 months–down almost 4% for the day and counting. I could very easily just ignore it and chalk it up to a one off event, due to some economic data and earnings season, hoping for the best–embedding myself into denial. The losses might continue for days or even weeks, until I am down for the year, vanquished by small blips in the market. Or, I could sell now and miss out on the bounce to come–if it’s coming at all.
The Dow is off by just 15 points and most stocks are extended. If this is the first of many down days, at 140% leverage, I will be cut to ribbons within days. I could sell off some up positions, bulk up on my short CCL and mitigate risk. Or, I can buy this dip, like a true master of the suicide arts, and play handball with a grenade in my backyard.
It’s rather amazing, isn’t it? When it rains, it pours. WNC has no business getting the clawhammer today, as it is completely unrelated to housing. It’s as if the stock market Gods were pointing their fury directly at me, punishing me for all of the hubris I’ve exhibited over the last few days.
Ironically, the very stock that I deemed most risky, VHC, is bucking the trend–shooting higher for the day. Without it, I’d be eating the travertine from my bathroom floors, sick to my stomach–smashed to pieces–carpet bombed in stocks.
As I write, Scott Bleier’s TICK is going bozonko to the downside, further worsening my losses. I’m like a jackass stuck in a pot of honey with lions biting away about my cheek and nose.
Before it gets better, I know it will get worse. Consider yourself burdened.If you enjoy the content at iBankCoin, please follow us on Twitter