Small caps are getting crunched, especially my IMMR position. I will buy more and bring the position back up to 30% of assets when the time is right. For now, I am waiting to see stabilization in TLT. The lower is goes, the more selling in the SPY.
I don’t have any positions that needed tending to, aside from IMMR–as I am 70% cash and have been before the sell off. Any meatloaf throwers in the comments section saying otherwise will be quickly discarded and banned from the league of gentlemen.
Don’t get upset and ponder as to why your stocks are careening lower. This is what liquidation looks like, fat margin clerks smoking cigarettes, selling out positions with reckless abandon.
A fantastic buying opportunity is right around the corner.
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Fly why arent you juggling TZA’s and TNA’s like days of yore?
My position is to wait for inflection point and play the long side only. I take this position because of the recent history of central banks intervening to prop up markets.
The Devil is buying some IMMR today. Also, your bloggers have been writing awesome material, hat tip to them.
Appreciate your insight. Do you think there will soon be buying opportunities in the banking sector or are they heading lower? Thanks
I like HBAN. Other than that, I’d buy whatever is getting crushed.
Names like WHR, LL look interesting today.
And thanks to my partner, Mr. Partridge, for being there when I needed advice. I have been paying less attention to the market the past couple of months while I struggle through starting my new business but the Old Turkey is always there when I need him.
Also, I saw your messages on Fly’s blog, thanks for writing!
“Meatloaf throwers” – LOL! Another classic ‘Flyism’ is born. I’m a “spaghetti with heavy sauce” against the wall thrower myself (no Oscar Madison)…
nibbled on some TLT and juan valdez tells me coffee is due for a fantastic bear market rally
looks like Sunday will be a shopping list day. sold my TWO at 12.74, a one dayer. My trading portal hasn’t been this light in 5 yrs. Down to UUP, FGP, OLP, TXTR, VXX, and XIV. And tons of dry powder.
Doctor Fly, Question on WETF: the Yen is not getting stronger, yet WETF has gone lower. Any thoughts?
It’s due to their ETF, DXJ. Although outflows have stemmed recently, any downward pressure on Japan or if sentiment sours, people will sell DXJ and WETF will go lower.
correction: meant to say, the Yen has not gotten stronger last couple sessions yet WETF has dipped below 11…
refiners getting pounded and love for your old wnr soon?
On the watchlist.
Watch gasoline.
Fat margin clerks are twisted individuals who enjoy watching VHS tapes of M Night Shyamalan movies. They take solace in films like “The Happening” because it identifies with their only friends, allergies.
What happened to the lesbian margin clerks from last spring?
Are they on a honeymoon?
They’re simultaneously stuck in a fat finger trade.
And urgently engaged it haptic touch finger frolics on their chartered voyages on empty dry bulk carriers.
dumped vix calls, as they did not work as well as i thought.
Counter bounce to 1597
The S.S. Huggie is topped off with a full load. Full steam ahead.