How big is my cash horde? I sold out of all of my trading positions but two: SAVE and the albatross itself AGIO. One cannot avoid all harm, at all times. With today’s sales, I’ve greatly reduced my exposure to equities and put myself in the position to buy up your margin liquidations.
As an industry, biotech is down almost 4% today. With stocks like AERI and CLDN decapitating traders, the sector has taken on a bubonic plague feel to it. I’ll buy more AGIO lower. The best thing for me to do now, up 20% for the year, heavy cash, big balls, is to wait for The PPT, or soon to be Exodus, flag an oversold signal.
There are ways to avoid draw-downs, sectors to buy that are defensive and such. But I don’t have an interest in that. “The Fly” is the market. His mood is directly affected by the buy/sell order flow of the investing hordes. The best thing that I can do for myself now is to block out all of you, cancel out the noise, and avoid being swayed by outside influences.
Fuck. I don’t even feel like telling jokes anymore. I had a good one that I typed into the computers, but then quickly erased it, due to my belief that none of you deserved to ever read it.
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nice move Mr
prudent
I am a Doctor, God damn it. You will address me as such.
Mr. Doctor
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This market reminds me of a Woody Allen movie: It’s not very funny and I keep waiting for someone to get raped.
i’m saddened by the events unfolding with EXAS. PPT/Exodus said it was going to be a winner. Granted, the 10 days aren’t up.
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As an industry, today’s 4% move in biotech is just a pullback to the 50 day moving average… not exactly the end of the world.
Every sell off is the end.
trainwreck is some good bud
“…. but then quickly erased it, due to my belief that none of you deserved to ever read it.” Haha!! Classic!!