This POS month is returning, during this same POS time of year, bringing me all the usual blessing of aspersions and inflictions.
In 2010, I watched 10% of my account evaporate as Sallie Mae’s “qualified” leadership bought out a company I was then shorting, STU (who’s loan portfolio I would remark has continued to give headaches through its further deterioration and subprime status), for a 50% premium to last trade.
In 2011, short oil to the teeth, and up an inspiring amount I would add, the financial markets reversed course so suddenly I got whiplash, sending oil from the high $70′s back into the $100 range, in the timespan of a month or two.
And now, 2012, markets are collapsing just as I have decided to be long going into the holidays (for the first time in three years).
Fellows, I don’t know what it is about October, but this month can go to hell.
Don’t worry if you’re losing money today – you weren’t on the wrong side of the trade. October is just on the wrong side of me. And by your grave misfortune, I decided to make your house my ground zero.
Had I been in cash, we would be rallying 300% today. Had I been short, it would have been 600%. As I am long, we will trade to $0.00.
If I someday decided to put all my money in one single position, that stock and that stock alone would receive a legal challenge that sent the company into bankruptcy. If I owned a private company by myself, it would go bankrupt in the month of October.
October is an ass.
However, I somehow always manage to recover from this month’s less-than-genteel facets.
In 2011, I nailed some big trades including APC.
This year in 2012, oil collapsed (going on twice…) and my entire position got back to profitable.
I can survive October. But I would literally pay to see the month thrown out – we’re going to an 11 month calendar.
7 Responses to Welcome October
our ccj got clobbered.
hopefully the analysts are wrong.
Specifically to Japan – these aren’t the kinds of things you can take Japan’s leadership at their word on. It’s like the EU saying “we have the debt crisis under control.” That’s going to be a constant; they’ll say that no matter at what phase things are.
Japan just cannot abandon nuclear. Neither can Germany, for that matter. Their promises of grid diversification smack of false promises. Especially the timeline, which as far as I’m concerned is designed to keep off the day of actually complying with these obligations. Between then and now, people will forget and the promises can be broken.
If you threw out October and made November or August 60 days, the last 30/60 days of August or first 30 out of 60 days of November would be as bad.
No. We will go to a 334 day calendar. Take the seasons, let them float along as they will
That post was fun. More please.
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