Traders Stepped In To Chase $DRYS After a 2,000% Run, And Then Got Clown-Raped

It was a good run, a solid and effervescent spike from $4 to $100 in a fortnight, and it ended with the death of overzealous traders strewn out across the floor, ‘fag boxed‘ for  chasing a dream that never materialized. While some of you might view my approach to the market as somewhat moribund and methodical, it wasn’t always that way. Not too long ago, I was like you, a degenerate gambler, hopped up on caffeine and fast money — approaching the market like a jackass entering a casino. After 18 years of spellbinding pop and drops, I finally decided to extend my life by giving up on the high beta aspects of my investment career.

Today’s move in DRYS will be forgotten, a footnote in time, in a litany of outrageous stories of short squeezes and crashes that define the essence of wanton speculation. This sort of pin action has been occurring for well over 150 years and will continue to persist as long as men with money and a dream trade the market.

Had you bought DRYS this afternoon, hoping for a $100 roll, you got annihilated. Thanks for playing.

It’s actually a positive sign for the markets to see this action. For a long time, stocks have marked time, only to enjoy runs in IPOs or beaten up basic resource plays. Although I’m pessimistic about the markets in the medium term, I like to see people enjoying the markets and trading as I have in the past — because it’s fun and potentially very rewarding.

Just know what you’re getting into before pulling the trigger on a trade like this; otherwise, you’ll be out of the game before the real fun even happens.