This isn’t an exchange where gentlemen cohort with one another, telling one another niceties and selling shares amongst friends. This is the pits of hell, where everyone is trying to stab the other in the back with knives fitting onto the bottom of soles. There isn’t any clear reason as to why stocks went up 150+ today. It just had to crush and pulverize buyers of volatility.
Gold and silver went up, but the miners suffered–as suspected. You have to understand the supply/demand relationship of the miners, people getting blown out of their positions by margin clerks at 3 o’clock. This is classic liquidation activity and I bought it.
Overall, it was a great day for stocks, one that gives me hopes that the Great Gorilla Cocaine Rally of 2013 can in fact proceed, albeit with caution.
I managed to make very little and find myself in a very difficult/undesirable position. I do not like the stocks that I am holding. It seems I’ve fallen victim to the very thing I’ve been warning others about. Nevertheless, I cannot lament over spilt milk and must press forward, concocting innovative ways to trade myself out of the mess that I am in.
The first order of business is to average down in AG into margin liquidations, then sell into the soon to come rip.
As for GTAT and FRO, I am more than content holding them for several months, as well as HDGE.
If you enjoy the content at iBankCoin, please follow us on Twitter
still short SLV from 28.50!
at what point do you concede defeat in AG? price, % losses, or ?
genuinely interested
BANNED
why?
i genuinely am interested to know how you plan on avoiding a jamie lannister on your portfolio
I own the stock for a single day. What kind of question is that?
I think your AG call was spot on. A few weeks ago when the stock was around $16, I asked you how low you think it would go and you said $12.
Not sure what that dude is smoking but in my book, the call was excellent.
Don’t you get it, the fly is the King !!
average into EXK?
I don’t own it. But if I did, I would.
EXK to 4 and AAPL to 400 ?
Enjoy your blog, Fly. Thanks.
Re: … “gives me hopes that the Great Gorilla Cocaine Rally of 2013 can in fact proceed”…
“Financial crisis caused by too many bankers taking cocaine, says former drugs tsar” — http://www.telegraph.co.uk/finance/financialcrisis/9993266/Financial-crisis-caused-by-too-many-bankers-taking-cocaine-says-former-drugs-tsar.html
this site is starting to resembling Slope Of Hope albeit kudos to the literary prowess here Even the tragedy in Boston didnt keep this market down Prayers with all in Bean-Town
I’m still learning from you, as I’m improving myself. I certainly liked reading all that is written on your blog.Keep the stories coming. I liked it!