This being August, the last month of the year to take a decent vacation, don’t expect acts of brilliance to translate into the tape. You see how the market is trading, right? It’s the sum total of all of the idiots who are left manning the office, as the meaningful people are out doing drugs on a beach somewhere.
Yes, of course, seeing the NASDAQ flirt with break-even sucks. More so, breadth has gone from about 65% to 56% over the past hour. This is not what I signed up for; but it’s what I got nonetheless.
Summer trading is often listless, frustrating, and unprofitable. I can still hear my wife telling me to “go to cash” just before the summer, 10 years ago or so, because even she knew that I hated trading during the summer. I say “even she knew” because Mrs. Fly has zero interest in this business, despite it affording her the many luxuries she’s become accustomed to.
This is a grind-fest, where everyone ends up on the losing side. You get short, the market rips. You get long, Putin invades Ukraine. At the end of the day, you have to make a decision and pick a side.
Where do you think stocks will be by Xmas? If you’re trading and cannot think so far out, trade smaller. I’ve always viewed the months from June to September as a time of year that I needed to survive, in order to make the real money heading into the New Year.
Things aren’t always what they seem. The market selling off now might trick a bunch of people to get short, only to get squeezed into the bell. This is a perfect time to unwind and eat a few sandwiches.
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Fly, you still hot on CSIQ over TSL? or do I have that backwards?
I like TSL over CSIQ
I would like to get back to looking for those 10000% gainz please. Where can I find one of those?
Fly, we should definitely be on a beach somewhere doing drugs… however we are here, drug free and doing “The Lord’s Work” instead.
Thoughts on the OAS sell-off? I’ve been long for almost a year, and I believe it’s a complete overreaction to earnings. Appreciate the insight Fly.
I love OAS.
Thanks for the reply. To borrow your phrase, I have a feeling it’ll be crushing skulls in the next couple days.
Nice informative blog post there, Fly.
LOL My wife says the same every summer , “every summer its the same you sit there staring swearing at your screens lets book a holiday”
just did the city…now I prep for an end of summer 3 day tent camping excursion…..in between my account dwindles…fuckin summer!!
Let me hear an ‘AYE’ if ye think Kelly Evans is hot. Arrr….
aye
okay, Kelly Evans OR Sara Eisen OR Seema Mody OR Kayla Tausche?
(1-4)
The money honeys are in charge. All the guys with families are on vacation.
What kind of sandwich?
You aptly called us morons because we have produced truly nothing. Our successes are mainly unrepeatable. There is no problem that has been solved. We try to answer your questions but the reality is we are but thieves and whores. We deserve night shifts for ever.
Junior at the Turret- I thought you were referring to purple lips.
Did they shut the market down?
LEDS is below 0.81 !!!
J, what are your thoughts on LEDS long term?
It really sucks when you can’t out-trade the idiots.
The talking points from the little girls on the teevee are “technical sell off”. Really? Nothing to do with economic sanctions or world war. Just “technical”.
they don’t know and never will. Neither do we know!
lol @”world war”
If my grandfather was alive, he’d smack the shit out of you.
Wouldn’t you prefer a good game of chess?
Okay, global thermonuclear war it is.
http://youtu.be/KXzNo0vR_dU
$IFON…BUY BUY BUY !!!!
This market is going to start eating people alive, like pickled jalapenos.
you back long?
You still blog bro?
would def. be going long now . Russia fears overblown