It’s not going to be easy; but rest assured, I will make it all back and then some. I still haven’t had the courage to open up the profit and loss screen, but have seen the damage and it’s around 25% to the bad. Make that a 37% swing from the top, the sort of setback that destroys lesser men.
I don’t know if I’ll make it back with my current positions, or something else entirely. All I know, right now, is this:
The PPT said we were oversold yesterday, “The Fly’s” computerized brain unencumbered by emotion. It’s record is near flawless. Those who use it know not to ignore it and never to bet against it.
It feels good to make back a few percent today; but this is not the time or the place for bragging. I made catastrophic mistakes, all that I regret, but only with the luxury of hindsight. I made all that money last year because of my proclivity to take risk. So far, in 2014, that hasn’t worked out so well. But I know what I own now is cheap and is bound to trade higher. Maybe I’ll lighten up on bounces, or maybe I’ll turn it around and sell it short. Odds are we erase all of these losses and shoot back to new highs, once the dust settles.
I realize you hate that idea, because you’re an ideologue. The numbers have to make sense and valuations must be respected. The market has never worked liked that. We simply ebb and flow between fear and greed, spurred on by cheap credit and trends– or constricted by tight Fed policy.
Rates are still low and this is the best damn game in town.
If forced to choose between the safe rout or the sword, I choose the latter every single time.
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fwiw I cut my UVXY start of the day. Doesn’t feel right. Nice hammer in IFON today.
Fly,
Check HK, an old fav of yours.
Yours truly,
zzz
HK is destined for great things.
That’s what the stars and the oil in the ground suggest
zzz
I appreciate how you are truthful about these matters, unlike so many of the others out there who talk up their winners and try to sweep their losers under the rug.
Fly, my office and portfolio is a mess and it’s time for a good spring cleaning overhaul. What’s in your office? I need a high quality desk, like something from Mad Men, not Ikea. Need some inspiration, thanks.
I used to have this big ass desk, mahogany, leather top. I threw it away and replaced it with a little dinky desk.
I spend my money on other stuff now, like rapidly falling knives and stocks that give people cancer.
written like a treu man of money.
I picture you in one of those huge, library like offices just full of books.
Well, I do have a chesterfield sofa, persian rugs, and I am having library shelves installed here soon, which will second as a secret door. But I am a humble man, a man of the people.
This, right here, is how I picture your office: http://www.athenaeumclub.co.uk/i/pics/lg/dhem.jpg
Who gave you that picture? I told them not to post it on the internet!
Damn it.
That secret door is no longer a secret.
I am holding $JAZZ until 220 or I die, whichever comes first. I made the mistake of selling $PATK over 2 years ago against my gut and will not allow that to happen again.Trading at 12X forward earnings and growing means full steam ahead.
leaders of yesterday not often becomes leaders of tomorrow… be careful, do not overweight
I saw you were short on stock-twits. Good trade.
I don’t short single stocks… only sectors.. BIS
by the way I was long jazz weeks ago
everybody loves a fall from grace and resulting come back story.
counting them stacks bruh
Hoping for a speedy return to your days of hot pizza slice face slapping and the breaking of collared bones.
Bloggery during this recent reversal of fortune as been exceptional. Prefer WINNING, however (no sheening).
appreciate it.
trimmed hedges today, now to tend to the lawn….seems a little brown.
u guys are all homos
Look who’s talking.
hermaphrodite
The desk makes the man! Perhaps the rinky dink desk symbolizes your recent portfolio decline. Get one of those old school bankers desk lamps and a nice fancy quill pen. Kick it old school.
Wrong. The man makes the desk. The money makes the man. But the man makes the money.
Chicken or the egg?
First you get the power
then you get the money
then you get the woman
Tony Montana
Captain Obvious
Have the gates been closed to the unregistered and unwashed?
I might open it Fri-Sun
Jesus help us all.
Yes, gates are open. I was referring to free trial access to iBC products.
That’s even worse news. LOL Like “Frat” weekend in the PPT.
LOL@ unwashed. Reminds of the scene from American Psycho.
$XLF stays below the 50day “21.92” then I don’t see the markets heading higher from here.
I don’t remember a time in the last 5yrs you ignored your usual stop loss on your entire portfolio. One stock yes but never everything…
This is true.
What in the fuck took place in my beautiful Brazil today…..horseshit!
YELP is in a death-spiral.
YELP…. more like HELP!
I hope all of you with losses make all of it back, and then some. The desk talk made me laugh. My desk is my backpack, because Girlfriend Dearest rules the house. Sometimes it’s like I don’t even live there.
Best regards
WTF. You gotta get you pimp hand strong my friend.
Did the guy short Brazil finally get blown the fuck out?
This is SO TRUE.. “I realize you hate that idea, because you’re an ideologue. The numbers have to make sense and valuations must be respected. The market has never worked liked that. We simply ebb and flow between fear and greed, spurred on by cheap credit and trends– or constricted by tight Fed policy.”
btw Plosser finished, he didn’t mention anything about FOMC policy. Go Play Bulls.
when is the last time you made any money without being on your back or knees
I’m avoiding looking at my profit/loss screen also. Portfolio was at a 5 year high just a couple of weeks ago. If I don’t look, the losses aren’t verified, right? And maybe my stocks will rally again before I have to take a look.
FLY…with respect to your change in desks. I went to a boiler room type desk…totally metal with a black dial telephone.
We should all line up to give the fly blowjobs for his excellent stock picking with the feye/splk/yelp combo.
You first
I would like a blowjob….but not from Fly.
“safe rout” (sic)
Is that what the last month was?