Stocks are being dismantled and tossed into flaming barrels of garbage. Luckily I predicted such a downfall and find myself with over 50% cash and oodles of ZSL and TLT. However, I’m still getting crucified on existing longs like WNR. There is no moral to the story or rational as to why we are selling off. It’s just happening—accept it.
My guess, the rubber band is coiled back, setting up for a reflex rally. If you are short, you might want to reduce that exposure. If you have cash reserves, now is a good time to nibble; but don’t bite. There is always a chance we get lit the fuck up, amidst horrendous news releases and downside surprises. Know the risks and don’t bitch about losses.
I will have you know, “The Fly” is taking his losses like a man. For lack of a better phrase, my cock has been cut off and gobbled by deformed midgets, clad in burlap underwear. I don’t like to see my longs lose value. However, I find solace in knowing my exposure is just 25% of what it was a week ago. My timing could not have been better in that regard. Nevertheless, prepare for a reflex rally, most likely scheduled for tomorrow afternoon.
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