I spent my day looking at different opportunities, building up a buy list for all of the cash I have sidelined. One of the names that popped up was DATE. Then I was reminded about past indiscretions when I’d take positions simply for the sake of taking them, to profit quickly off momentum. While that might work for some of you, that’s not my style. I need purpose behind my buys, else I’m doomed from the get-go.
This is the sort of tape that lures you in with low-brow names, until the hammer of certain death is dropped on your gambling faces.
The market is heading lower because Obama wants panic.
My losses were very muted today; but there is significant risk of a full rout of stocks. Remember, panics do not occur from the top. If this market keeps selling off, we will set up for a capitulation trade, whereby ageless vampires like myself will suck your arteries dry (no homo, simply vampire lifestyle).
VXX tits.
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vapo-rub
Surprised the Devil hasn’t shown up and bought a milly worth of SPY puts. BALT is holding up like a God Damed Boss though.
spy put hedge was only thing keeping me somewhat afloat, followed by mildly green aapl calls. momo stocks are certainly no fun in this environment. definitely have to accept one on the chin every one and then.
Ya, I moved to 75% cash. Waiting this out.
I made $$ on SMH etf and some of the chip makers (LRCX,KLAC,AMAT) on the long side.
Just daytrading and also realizing that this is October and the market is a little too complacent here.
I really want to wait for a severe downdraft when the vomit buckets are being used by the longs.
I have seen this story before over the years.
Green today with winning positions in Apple, Intuitive Surgical and Xone, all posted here last week. GTAT gave back gains and X was flat. I really like MNKD here and will keep an eye on it for a starter. Where is the Old Turkey this afternoon? He was big in XONE…