I sold everything I bought yesterday — the whole kit and kaboodle.
Here were the results. HUBS was a +4%.
Replacing it, I bought DRIP, NUGT, TLT and cash of 60%.
What if the market reverses higher?
I have 60% cash to respond.
What if we continue lower?
I will add to DRIP and NUGT, maybe TLT.
Horrible tape. Get defensive.
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a theory… we are giving back half the gains from yesterday and then we come back??
who the fuck knows???
You might be right.
half on QQQ is $148.32; just hit$148.5…. will see what happens
hit $148.35
call it what you will; volatility; giving back half the gains which in this case is HUGE because yesterday’s gain were humongeous; finding the bottom….. seems like technically driven … BY THE FUCKING MACHINES WITH NO EMOTIONS.
This is exactly why Fly is a **real** trader, while most traders are actually nothing more than HODL’ers with lucky streaks.
Many of you – including myself – may believe Fly is wrong. However, if we go up, he’ll still have a net profit from the last two days – but not as much as HODLers. If he is right, his profit will be even larger while the HODLers will have losses on their hand.
long MU/AAPL/DIS/cash, short NFLX
Stop with your half-repented ass-munching and just say “FIG”.
No.
I still think Fly’s theory on Sharpe ratio’s usefulness for stocks is BS. At the same time, I will point out what Fly does right, especailly since most inexpereinced investors (many of which likely read this blog) tend to only judge a trade on whether it made money. Think of it like Poker:
1) If you bet on 4 of a kind, and lose to a Royal Flush, you still made the correct call even though you lost
2) If you bluff with 7 High and the other guys folds, you made a bad call even if you win (pros don’t bluff when they have Zilch, except in movies)
The days of buy+leverage -> look like a genius are over (for now), and Fly is showing how to work in the current environment.
It’s a traders market. You have to sit at your trading turret and blast away. No going off to get a haircut, picking up kids, banging the maids etc.
Lunch is cancelled.
Fuck!
I really wanted some lunch
Regards
Chuck Bennett
It must be summertime already, the Fly is back in his shorts.
Silver still queued for next leg higher. Added a 3rd tier silver miner ASM.
What will they do about our country’s debt and unfunded liabilities? I suggest that they will stop the wars, accept price stability or even a bit of deflation, promote austerity and pay the debt back in honest dollars while letting underfunded state, local and private pensions go bust. Do we all agree.
Added to second tier silver miner SVM.