WTI is still down almost 2% and the lot of you are gleefully chuckling, like two slobs dining on two suckling pigs. For the better half of the past week, I’ve been defamed in these great halls by indecorous travelers, asking about the whereabouts of my DRIP position. At the time, I was most concerned with other topics, specifically pies, and opted to ignored these travelers, chalking them up as nothing more than whistles in the wind. Now that I’ve been afforded some time to answer all of those questions, I am very happy to answer them.
That’d be +15% from basis, on a doubled sized position.
I know what you’re going to say next: ‘but hey Fly, how about yer fackin’ NVDA short, eh? I betcha shattin’ your pantaloons over dat one, eh?’
Actually, not really. I am merely down $2 on my NVDA short, or less than 1%.
Finally, the gazillion dollar question has got to be, ‘what of the VIX Fly?’
What of it? Like a fine wine, my UVXY is in the cellar maturing. In order to realize its best self, it must stay down there a while longer and grow in profile and flavor, so that it could be decanted and enjoyed by the patient owners around the dinner table.
I’m down a wild 25% on my double sized UVXY position, an amount of terrible proportions, but expected — given the trajectory of VIX over the past 5 years. I might decide to cast the whole bottle to the side, take the bottle chards and cut your necks with them. Or, I might lean into it a little more, at just the right time, and make it a triple sized position — better positioning myself for success. Either way, I am eternally grateful for your concern and look forward to proving you to be the idiots you are in the future.
Top picks: HMNY, DRIP, GCAP, RUSS
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I don’t care about the positioning. The real question is why the 180 on money management?
I will admit it’s a damn good time to have an established book. With the proliferation of fee based UMA’s you no longer need to eat what you kill.
Honest answer: I’m bored. After two years of doing the site exclusively, I’ve found that I truly miss managing a book, dealing with clients etc. Plus, I know how to do it well.
you stopped managing $$ because you lost $$$… remember?
That’s not the way financial advisory works. I could’ve ‘lost money’ like you say for 10 years straight and still have a booming practice.
I left because I was bored and wanted change.
Lol do you actually think you could run a book the way you see people run their personal accounts on this site?
Running a book is a lot more boring. Mostly asset gathering and structuring portfolios to absorb risk.
What you see on the site is my own account, or in the past, my trading accounts — which is totally separate from my real money.
I completely understand. My comment was directed @yourlame for being clueless about the industry.
So Fly buys DRIP at $13.705 when light sweet crude is around $57.15. Now DRIP is $15.57 and crude is higher at $57.87. I get that DRIP is not a 3x inverse of crude, but that is ridiculous.
DRIP isn’t short oil, but short oil stocks.
top pick HMNY…. LOL
never more than 3 ellipses you illiterate faggot.
Yourlame is a troll, a sad, pathetic, troll. Let him vent. I am sure his life isn’t too great.
“I betcha shattin’ your pantaloons over dat one, eh?” … love it, could actually hear the accent in my head … pantaloons even better
Props to you for posting your postions – wins and losses. Most brag about their good calls and conveniently forget their losing ones.