Well I’m not bored anymore. I was complaining about the lack of challenge in the markets. It was too easy and I wasn’t interested in the ordinary. Now I have my hands filled with some good olde fashioned BIG ASS LOSSES. I have stock market experts offering me financial advice in the comments, as well on Twitter. This is exactly the sort of thing that I relish, sans the specter of having a disastrous ending.
I’ve always managed to come out from every catastrophe unscathed. Naturally since they occurred in the past, some of the newer readers aren’t familiar with my pedigree and therefore default to thinking “this guy is doomed.”
Young Prince, I am far from doomed. I can buy Splunk down to $2 per share. I have what they call “staying power” backed by what one might call “real money” and it isn’t going away. Either way, the people of this site, the reader, will come out a winner, by watching me navigate the impossible or a front seat vantage point at a blow up, a guide of sorts through tough sledding.
I’ve already made my bed, pal. There isn’t anything left to do. The wheels are already in motion– and my machinery is heading downhill with the momentum of 20,000 maglev trains. I have some cash to put to work and have made it my business to trade out of these homosexual positions unscathed, without being raped by them.
During panics it’s important to expect the impossible. Stocks behave crazy because crazy things are happening to the people who own them. The snap back, whenever it occurs, is going to be violent. All of the panic selling will cease, pause, then a buying frenzy will ensue.
If you enjoy the content at iBankCoin, please follow us on Twitter
War paint. Love it.
WAR READY #RICKROSS
Fuck yes.
Bought SPLK, CRM and YELP calls into the close. FTW!!
Now comes panic…wait for it….wait for it…BUYING. Screw the bears.
As I watch NQ futures steadily climb tonight I can’t help but wonder, do those retards know something this time?
Sadly,,,NQ futures going up has nothing to do with these stocks…you have been watching the market?
The NQ and RUT have been both been trading pretty much in tandem lately, to the downside. Go ahead and insert RUT for NQ in my post. I know futures don’t mean a damn thing. It was a comment made in jest. Just poking fun at futures traders, that’s all.
Pulling for you Fly, been rough watching mother market fondle you so greveosly
We’ll said sir. I still believe Fly!
SPLK bought out at 125 by GOOGLAE.EL.GOV
WDAY realizes they sit on an oil reserve of 50 trillion barrels under their home office, decides to become a drilling company.
YELP has blackmail on thousands of restaurateurs (sp?) and Implements a new business model of “5k$ a day, bad reviews stay away!” Stock jumps 50%
WDAY is bough at 235 by FB money because they aren’t sure what to do with themselves.
FEYE trades down 6 points because… because…
will be epic if you can pull out the win…truly will be talked about
This is a tough situation and I feel for you. I remember back in 2010 I made some mistakes with crude futures, and suddenly i was down several hundred thousand dollars on the day, which at the time was probably as much as 50% of my account.
I stayed up trying to get out of that situation, drinking heavily, until probably 2am. By that time, my account was fully loaded with CL contracts on day-margin, I believe right at 50 contracts , or about $4.5M notional.
In a final act of desperation, I just went to bed with the position open. I literally left my fate to the gods, fully expecting to wake up wiped out as crude had dropped $15 in two days, and it was only going to take a few more dollars to finish me.
Well, I woke up to find the absolute most amazing ending. Crude had bounced in the three hours i slept and bounced violently. I made back all several hundred thousand dollars, as my exit orders were hit while sleeping.
There are three takeaways from this tale:
1) When I woke up, i was relieved for a moment, and then angry that i set hard exit orders as I would have gone green by +100k. Not a good trait.
2) I could have gone completely bankrupt on essentially a coin-flip. We are all just a couple of mental slips away from disaster, and only providence will determine the outcome.
3) Over the last four years, I have acted on that lesson and become dramatically more careful with leverage.
Good luck El Mosca…..i think you are likely to get a good run into earnings and thus avoid disaster, but the world shall have to wait and see.
Ah, so that was what happened. I remember when you were bugging out. Good story.
Was actually 2011….glad all my near disasters are documented here for posterity.
https://ibankcoin.com/flyblog/2011/08/08/a-reversal-of-winship/
oddly,,doesn’t look like any of the comment posters are still around
Most are. The comments come light. But those peeps are here.
God damn man, I get all sweaty palmed with my little baby account floating in the wind. I can’t imagine having millions on the line. Much Respect for all of you guys that have been doing this for so long successfully. Humbled beyond words being a reader here. Thanks all.
This is a cautionary tale indeud. Appreciate you sharing.
Cool story huggie. We have all been there. I had a 6 figure win on RIG last year and lost all of that plus more on the RIG debacle in January this year. Makes you stronger, just have to live to fight another day.
Yes, surviving to another day is the key. It’s not that hard to make money, it is damn hard not to lose too much money. If you can prevent the latter, you can do ok.
Hey, long time no see.
Every time I get tempted to just “bet it all on black,” I look back at my own track record of holding reasonable positions into binary events, and into stories like yours, and I don’t make the trade. On paper, I’d have blown my account up 8 times out of 10. When I’ve done it with real money, I’ve taken 10%-25% hits to equity 4 times out of 4. The temptation to take a reckless bet and “get it over with, one way or another” goes away immediately.
Been doing it full time since about this time last year. March was hell for me, I scalped 1-2% out of January February and burned it all in the chop. I’m flat YTD and have maintained 60-80% cash levels for the past six months, and I really don’t have any right to whine about being flat YTD. It’s frustrating, but it’s not costing me anything I can’t afford.
Many of us, here, in PPT, and in 12631, are frustrated wth the recent action. Blame it on the taper, blame it on Yellen’s poorly timed comments, blame it on the rain, it’s been a frustratingly choppy month.
I’ve never faced bankruptcy, but I know just a little bit about how you feel about that trade. I’m glad yours worked out. Good to see you still in the game.
Yes I was very lucky, no doubt. Those types of trades go against you 3 times out of 4 I believe.
If I had been more willing to cut my losses throughout my career, I would have a much more profitable track record.
Good luck, hope things pick up for you this year. I’m around flat, too….but not for long!
Try n wrap ur head around this…happy u didn’t ruin yr life as a direct result of ur hubris n stupidity, but nah playboi, ain’t gonna congratulate u like these simps on a comeback that is as fucking moronic as the problem u made for yerself in the first place LOLOZ.
AND! hello taxes! Takes a real genius to make 300k aka 100k in ST CAP gains sounds like a good thing. So unless we using Fly math, nah u still blew 100k trying to play big boy n u didn’t even get the satisfaction of getting it dick wet. For shame.
But hey, glad u LEARNED a lesson u can share wit us LMAOZ.
Where did you learn english?
Greatest reply ever in in five words
He didn’t.
You don’t pay cap gains on near-term losses that you pay back. Thats not how it works.
When the tooth ferry is done chopping wood, the fucking fuckers will chase them up. This too shall pass senior fly..
This is when The Fly is at his best!
Hell yes to aggressive determination. Feels like there should’ve been a “friendo” dropped somewhere in this post.
.
… the take away from the “animated poster” … in the previous thread … is …
“Holy Hell !”
.
Always love a good oxymoron !!!
.
.
…“Holy Hell, Batman !!!”
.
.
… Or …
Holy Hell, Batman … NOT A ONE of the Major Indices was down MORE than 1% today !
.
… and yet it “seemed” like … “HOLY HELL !!!
.
.
… today, I mowed the lawn !!!
Just sayin’
.
Perhaps I should just cut all my positions and switch over the apparent 4 horsemen fly stocks. If fly makes it out alive I would profit nicely as my cost basis would be a good 30-40% lower.
Huggiebear- that story is fucking insane. You essentially played Russian roulette with your life. Wow.
.
RANDOM THOUGHT :
Steve Ells … CEO of Chipotle (CMG) … made almost $70M … making BURRITTOS !!!
He was only NARROWLY edged out by Tim Cook, CEO of Apple (AAPL) … at $74M !!!
—
BURRITTOS vs. iPhones ???
Tough Choice !!!
.
Robert Downey Jr, 48 – $75 million
Channing Tatum, 33 – $60 million
Hugh Jackman, 45 – $55 million
Mark Wahlberg, 42 – $51 million
Dwayne Johnson, 41 – $46 million
Leonardo DiCaprio, 39 – $38 million
Adam Sandler, 47 – $36.5 million
Tom Cruise, 51 – $35 million
Denzel Washington, 59 – $33 million
Liam Neeson, 61 – $31.5 million
(Source: New York Film Academy)
Read more: http://www.dailymail.co.uk/news/article-2564925/Hollywood-mans-world-stuck-1950s-Angelina-Jolie-woman-break-list-10-highest-paid-actors.html#ixzz2xtCcuYp1
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Tiger Woods 78.1 Mil
Roger Federer 71.5 mil
Kobe Bryant 61.9 mil
LeBron James 59.8 mil
Drew Brees 51 mil
Aaron Rodgers 49 mil
Phil Mickelson 48.7 mil
David Beckham 47.2 mil
Christiano Ronaldo 44 mil
Lionel Messi 41.3 mil
Salary + endorsements
Wtf does that have to do with a dude that makes burritos? God bless the 401k, you know that asshat does. To each his own.
Speaks volumes for my proposed tax system: 110% tax on ALL AGI above $300K, with income from any source treated the same for tax purposes.
Solves ALL our country’s financial problems, and get you into a Yankees game for $5 bucks.
At lease Ells and Cook run businesses.
.
Desean Jackson was cut by the Philly Eagles … CUT !!!
He was unemployed for about 48 hours !
The Washington ah hem … “Redskins” quickly snatched the lil “gangsta cockroach” up … OH !!! … and signed him to a $24 M deal … with $16 M guaranteed !
He has been implicated in a variety of crimes !!!
But, he IS fast … he CAN run … and, he CAN catch a football !!!
.
.
… he MIGHT even be able to make a “burrito” !!!
.
Redskinny’s are playing the odds, chances are Faster Jackson will get shot at some Bar scuffle along the way, likely paying him week to week as a safe guard
I have 3 letters for you – FTK – epic comeback
Need more money to buy WDAY. May have to dip into the Margin and become a statistic
Post over at Bespoke about these very stocks Fly speaks of:
http://www.bespokeinvest.com/thinkbig/2014/4/3/no-earnings-big-problems.html
The labor market has my blessings. (April fools?)
IFON, MOO at open
im done
Nah. nasdaq pareing vxx drifting back
changed my mind
Going LONG YELP this morning…Fly sympathy trade don’t ya know!
I remember the time Fly turned a hundred grand into a mill. in real time on this site.