The Option Addict is absolutely slaying the market. I tip my top hat to all of his minions who’ve joined his service and made triple digit returns. HOWEVER, and I am sure he’d agree with me when I say: you’re all behaving like spoiled brats, filled with hedonistic hubris.
I don’t mean to single any one out, but that’s exactly what I intend to do. You speak of “not being satisfied with 20-30% returns anymore” and that if “the gains are less than triple digits, they’re simply not worth my while.” Pardon the paraphrasing; it sounds better when I write it.
Do yourselves a favour and check that happiness at the door. Very soon you will be sucking from the tail pipe of an oldsmobile, as Congress tosses you under it. Do not, for a second, believe that they are responsible stewards with our money.
Being 75% invested without hedges, I stand to lose coin, just like you. The only difference is, I am prepared for that eventuality and will not draw down 20-90% on the next leg lower–if it even happens.
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The less gov’t the better. We need moarr shutdown!
indeud
Fly….they must have 3-4 figure accounts, trying to build up an empire like the stories of young Fly….otherwise, I totally agree, they will end up like a muslim woman at TGI Fridays
Obama already proclaimed he didn’t give a rat’s ass what wall street or the market is doing…fear mongerer/power freak…be a leader “buck stops here” president
Look who his economic advisors are, bro. He is so entrenched in Wall St. its absurd. Even more than Furher Bush was …probably because Bush couldnt even find Wall St. on a map.
hahah love it. so true.
ANGI…rented her for a few days..16.70ish
It’s going to be similar to the happy guy dancing on the street before he gets hit by a bus.
However anyone who hasn’t subscribed to OA’s service is missing out big time.
Agreed. He’s killing it.
I can’t be worried about stocks gains this PM (already made $$ with SMH etf this AM).
Another bear broke through my screens and went for a swim in the pool.
Just feel lucky you weren’t in it…
hey, some of us plebes are doing ok, too and we’re being gentlemanly about it, even if we are women (women are never mentioned here, just the gents so…)
Congrats Plebette on your doing well.
IMMR is going to explode soon, FYI, now is the time to buy.
Earnings!
if you read further down, sir fly you can see i had already posted that I was trimming positions and exercising cash management. Perhaps you misunderstand my sarcasm.
Good thing we didn’t shut down the USPS. Survival of the fittest: http://www.youtube.com/watch?v=_S5yS4JTid8
talk from the urinal shadows is that one of the new bloggers is planning a hostile takeover of iBC..
protect yo neck fly
Nice.
Do mean removing the albatross of dealing with thousands of plebs, day in and day out, while still upkeeping the dignity and honor of the site?
I call that a successor.
Any goods news out of Washington this weekend will propell this market to new all-time highs (extra hubris). Any bad news will be bawt.
hahahah. You’re gonna have your penis severed.
What do you mean, “You People”?
What do YOU mean you people?
I meant while folks.
WHITE*
was able to sell some positions into this strength,,,the boogy man(no Obama) is out there, and there will be better entries galore
I believe its expressed “NoBama”
I have to admit it’s hard waiting for those triple digit gains.
it ain’t a gain til ya book it
I agree and it’s hard to not take that quick 30 percent every time. I’ve had to get a little use to letting the winners run.
but once all this political garbage is settled…we rally with the santa clauses
My guess is the market was up today because THOSE PEOPLE who manipulate it know something is in the works re: government shutdown and debt ceiling issues and that something will be announced early next week.
Nothing wrong with taking 30%
10-4 hideous…are we getting that big headed to scoff at 30% ? I am not,sorry,but let’s keep it real
30% is so retro. 400% gains are all the rage these days.
You know whats really cool? A TRILLION dollars…
Great post. I’ve got some words for the weekend coming up later tonight. Would love to add a few words to this. Thanks Fly. It is required for those who trade with me to “act as if” you’ve done this before. A little humility and appreciation is required. We do not dance with lampshades on our head in a camp of respected traders.
OA
i love lamp
Kdog, the only thing wrong with taking in 30% gains is taking 50-100% losses.
If you are quick to take gains, you must be even quicker to take losses.
Agreed.
Where do all he blogs from amateurs like me go now?
Raul 3..this is one sharp trader..suggest yall review his work.
If you haven’t yet read this Fly, you might enjoy it!
http://www.theonion.com/articles/tea-party-leaders-announce-support-for-deal-in-exc,34101/
Good to hear Sir Fly.
While I understand it’s hard not to get excited, I also understand just how true it is that “Pride comes before a fall”.
Let the Fly’s words help mettle your demeanor or learn it the hard way.
The messiah will walk on water then all detractors will bend the knee. The poor will get rich the blind will see and the world will all hail the new king. Peace will never end, war will be remembered as a horseshit part of history. Flowers will never die, non stop bloom. The ACA will save lives while being practically free!
DRYS readies ATM
Greek bulker, tanker and drillship operator DryShips is looking to raise up to $200m through an at-the-market (ATM) equity offering. Looks like what you said is coming true they need cash.
I will agree with Fly to add weight to the devastating effects of adverse market impact on a portfolio of all long options.
Its better to hit 30% singles and survive than to count on back to back home runs to save you.
For those who have not felt the pain of losing 50% of your portfolio overnight. Stay away from open windows and lawnmowers.
http://www.youtube.com/watch?v=ArysgXoL_JI
CPST time to revisit this old dog
Good Shepherd, the longs have been carefully planned and calculated… for the record.
I’ve blown up an account before. I’ve turned 5k into 6 figures and back to 500 bucks before. ES Futures and spy puts. It’s not fun. It builds character though.