Listen to me now, since you’re unable to think for yourselves.
The volatility will kill you. It will really, really kill you. You’re in a car made of dynamite heading for the sun and you don’t even know it. Harvest those losses, lads, and BEHOLD a new era of the Bear, once festooned with the limbs of the very rich. Not the marginally rich, but the very rich. We will eat them with great avarice and their estates tossed into escrow, assets frozen, stocks liquidated — markets bludgeoned to nothing at all.
Ergo, I bought more DRIP.
Now I’m all over the road today — but bear in mind these intra-day moves are equal to weekly moves, so my actions are in response to that.
The thirst is real and the pension fund buyers are done.
Here are my biggest trading positions.
DRIP 10%
DRV 10%
TLT 10%
Forty percent cash, barreling into the New Year’s.
Enjoy your weekend lads, Jungle.
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Dice those pinedapples
Recent examples (24 hours) of me not adding value to this blog:
https://ibankcoin.com/flyblog/2018/12/27/carter-worth-bear-market-just-begun/#comment-557120
“At NFLX $261, pushed my option timelines out to Jan 11, raised my put strikes -> more short”
https://ibankcoin.com/flyblog/2018/12/28/quietly-preparing-violent-cataclysm/#comment-557153
-> not to late to join the fun
You’re welcome
Jeez, if you’re gonna pat yourself on the back, I would’ve thought it would be for writing that this rally would stall at QQQ $155.
Nice one!
For price targets, usually you can keep it pretty simple: just look for long horizontal price targets: That’s how I saw QQQ $155: look at a 2-year chart (1-week intervals) with Candles. For NFLX, I looked at a 3-month cahrt with daily closes and saw the $262 line, and can see that $275 would be the next buy resistance if that is breached.
Hell, ya, I’m giving myself cred – no else does. Almost forgot this other 24-hour gem
3:14pm yesterday “Prepare for takeoff”
I’ve been NAILING this market up and down all month:
https://ibankcoin.com/flyblog/2018/12/14/happy-friday-4-trillion-losses-achieved-since-september/
But you know what? Let’s do this gladiator style:
Thumbs up, I keep commenting
Thumbs down, I stop.
And of course the Emperor is free to override the mob’s decision either way.
Bro, don’t be the douche who pats himself on the back.
Numbers, do keep posting. But for the love of God, please stop asking for affirmation …you shouldn’t need it and it is not what anonymous internet posters are best at.
Anyway, you’ll be notified if you fuck up.
Have a good weekend.
It’s not affirmation, it’s a little thanks/gratefulness I’m after.
Someone like acehood’s opinion mean very little to me, but if Fly posts “You actually offer little to negative value on the site” and gets 3 thumbs up and no thumbs down for it, then I’m certainly going to question why I bother sharing my advice, wouldn’t you?.
https://ibankcoin.com/flyblog/2018/12/26/and-its-gone/#comment-557034
Yeah yeah yeah. Ok.
But I told you fools Christmas Eve son.
Regards
Chuck Bennett
Don’t go anywhere, numberskull.
While Monsieur Fly gets divine props for his honesty and running this fine-ass site, you’ve had some gutsy and fine calls as of late, so I’ve been coming here to hear what you have to say, as well. I would be sad to see you go.
Enough ass-kissing for you?
Cheers,
DAWG.
That will work. So will a few thumbs up every now and then; it doesn’t cost a thing.
Not just for *me,* either. I give plenty of thumbs up to others.
In return, I will refrain from post-propping myself – which *is* a little douchey sometimes, but then again, so is this blog and that’s part of the draw.
it’s true that a few thumbs up doesn’t cost a thing, what ever happened to “for the love of the game”?
Lol
Thas rite, you know what’s good, allegedly.
Regards
Chuck Bennett
The comment below or above was for chickendawg
Regards
Chuck Bennett
When the hell did pension buyers become a thing that moves markets like this?
Good question – the tax loss selling mantra has now met it’s match in the look the other way facades
Opec cuts begin next year. But you keep buying that DRIP. Mark my words, markets and oil move higher from here. Buy stocks, with both hands.
Do you have an oil play you favor over the rest?
No need for oil plays here. CRM is solid of it breaks 136 or back down at 130. Otherwise, any SaaS plays will do. Also love SQ and ROKU at these levels.
10-4. Have SQ and good. Been wanting ROKU. Much abliged
It got beat up after earnings unfairly. They lowered EPS guidance for q4, but I believe that is due to the fact that they heavily discounted their devices for the holidays.
$HES, $CVX and recent FLY buy, $FANG, all look interesting to me for different reasons…
That’s not how trading works. I could give a shit about OPEC cuts. I’ll be far gone out of the trade by then.
“That’s not how trading works. I could give a shit about OPEC cuts. I’ll be far gone out of the trade by then.”
Yep
o(^_^)o
I’m 2/3 cash and net bear. GDX TLT IEF.
I don’t know when the bear will get here but ALL indications are that we are in the very late stages of a bull or early bear. I’m not interested in small gains here so much as home runs. The time is near and the huge bear market trades are worth waiting for.
I agee.
With investment account, I think the best way to make money in a bear market is exactly as you say: go for home runs. In particular high-probability trades.
If we a near a very significant top – like near Fly’s “FAGbox”, short or sell your longs. If we go down, Oversold -> more Oversold momentum, so wait it out and earn 2%. Then when we break new lows, or the current low seems to hold, buy. Look at other indicators (HYG, VIX, etc) and market leaders (AAPL) for a forward-edge clue on short-term timing when you think the time to buy or sell is near. .
As Fly says, position sizing is critical: don’t bet huge even if you think it is a *sure thing*. My long terms account hasn’t been less than 30% cash (or very high grade bonds) in a very long time, that way. Also, I was short most of 2008, but still ost money that year because I was too agressive. I shorted oil through puts at $110, but my puts expired before oil plunged (to $60?), and i didn’t leave mself enough to keep rolling the options.
Also, bears have to fear the gov’t. The SEC, Congress, FED, etc, can and will change the rules and try to prop up the market, often with no warning (unless of vourse you alumni serve in gov’t…). Their goal is not market stabilization: it is keeping the masses (HODL) content. Price discovery is seen as a threat. Also, they aren’t aleasy the brightest bunhc. Another failed 2008 trade was going long right before the TARP vote: I didn’t think that Congress would actually listen to their constituents and fail that thing.
So remember the differnece between home runs and lottory picks.
Oh, yes. I held up well in the’08 bear thanks to cash positions. I thought that you couldn’t have too much volatility, but there was way too much for my strategy. Updrafts ate my profits as I entered my orders. Got through with a little profit and a lot of lessons.
I really don’t do anything different in any market in terms of position size, it’s the type of trades that’s different.
BTW; With the kinds of calls you’re making, act any way you want.
I think it bears repeating. As Numbers said, fear the government. The manipulation was shamelessly obvious last week. Was it honest PPT (if there can be such a thing) or politically motivated? Were favors swapped for future favors?
This administration has no respect for any norms of behavior so be careful.