So I was away during the market tumult. Before I went away, held a meeting with a partner of mine, I bought some TVIX — because that’s what men do during markets that whip-saw 1,000 points per day. It was intended to be a day trade and it indeed ended up being just that — as I sold it for a 7% loss.
Markets dropped in true heart attack fashion, and then regained its composure and is now surging into the bell. I cannot think of a more bullish scenario than this. Sadly, I am betwixt and dumbly long DRIP and DRV into this ebullience. Only by the good grace and hard toil of Jesus Christ himself will I be able to extricate myself from this ordeal. I should’ve held my longs and been a man about the 600 point decline. Alas, we only get one chance at these decisions and they’re often wrong, foolhardy, and stupid.
My original thesis of heading back to the FAGBOX, because it’s fun and easy to do applies again. But this time around, I am, unfortunately, not keenly positioned to profit from such a move. Truth be told, and this goes without saying, I can only wish and hope for the worst. It does not appear my dreams of danger and hazard will come true. It also appears, mind you, I will be forced out of both DRIP and DRV, perhaps even at horrendous prices.
Now I know I’m not the only one to fall victim to such rapery, as these intra-day moves encompass what one could expect during an entire week, if not more. It’s okay, as long as you correct the mistake and resist the temptation to revenge trade.
Heading into tomorrow, I am long DRIP, NUGT, TLT, DRV and AG, hoping and praying to the Gods for a semblance of mercy.
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Legitimate Price Discovery
Guess what. That’s what actually happened for a few days. That’s what you saw.
Then. No forced programming. No such thing. Nope. No intervention. Doesn’t happen.
L ——-P!– d
Or am I just waiting for the Brand New episode of Live Pd
I know you know it but it’s worth repeating- hoping and praying is not a trading strategy.
Still like the OIH (oil services etf) and IWM (Russell 2000) going into the first few days into 2019 (then we’ll see) simply because they are at multi year lows (small caps telegraphed the correction) and as almost always happens at the end of such a year the selling (for tax losses, etc.) evaporates and there is only one way to go (up).
Very impressed gdx didn’t sell off last hour.
Why did you sell MDB Fly? Is it because your balls are made of fragile substances?
Here’s an interesting bit: except for the late summer rally the US indices have tracked the MSCI All World Index very closely for a year. Everyone has been hit hard of late, rebound could be slow.