My aggressive Facebook short was too cocky and i gave a lot back but still made +.54 (2.7%) on the trade. How much did I give back to the market gods? MOTHER FUCKIN’ 6.25% BITCHES! This should be considered my donations to the poor for the decade, a damn 6.25% donation to the cock suckers who gets pissed at you when you don’t give them enough! And because I am an ignorant, cocky bitch ass, I added on too much risk but did not take profits b/c I was so biased and greedy that I wanted this thing to roll down to the lower teens. I should have set stops, but was too bold to recognize a potential squeeze. I know was a squeeze b/c I couldn’t buy back with a market order… ahem, 4 market orders to sweep my shares wouldn’t work; it was bullshit and you should have seen me banging on my desk wanting to punch my laptop in the FACE!
This is life, I am a stupid prick, and I deserved to make .54 instead of 1.25 a share; I could have lost it all and gave it all back if you watched $FB today. But good thing I had to give someone a ride today; this ride forced me to close my position and walk away — that was the MAIN reason I sold out. The tape was too bullish for me to walk away and not watch the screens, so I had to hit the ask when i covered, and after the 5th time after it broke back above 19.10s…. I was cleared at 19.23. THE SPECIALIST IS A CROOK!
Shit happens, move ON!
Lessons today:
- don’t increase your risk appetite if you aren’t ready to lose it all — i could have lost it all and more if i left the position. I could have lost all of my profits and down over 5% if I didn’t cover my shares.
- don’t be too biased or cocky – become liquid and trade both sides
- protect profits
- if you walk away from the screens, make sure you use stops!
Also, join me as I laugh at those suckers who were too greedy in SKUL; yes i left a lot of money on the table last week when I got out, but I know a lot of greedy bastards who tried to squeeze SKUL and it didn’t work. So when it cracked the 16 today, BAM! it ripped tits and made the poor poorer; good, those greedy bastards deserves it.
Here is my macro watchlist to watch for the week:
You MUST keep your eyes on Gold; if $gld pops above with volume and conviction, this can run up, CAN RUN UP by squeezing the shorts. I believe paulson and soros are both heavily in gold but to hedge their equities, but as a ZERO hedge trader, watch for the price and volume; SO SIT ON YOUR HANDS IF YOU HAVE TO. That will limit your risk if you wait for the volume, trust me.
Another sexy etn to look at, $TLT. the 20 year bonds are good if euro talks don’t go well tomorrow; this one should bounce with $GLD. Funds will sell their equity, and roll back into something more safe, the treasuries; again, watch for price and volume.
Last but not least, the $spy, just take a look at where we are now, descending volume with constant run ups… be careful; if someone pulls the rug from under, this will drop fast.
trade well my homiez.
