There’s a new clam in town, and she believes in proactive intervention in monetary policy. Which is probably the nicest pathed road to hell. But we’re going to have one awesome time getting there.
My account is pressing higher today, my cash raise yesterday notwithstanding. I support my decision to raise cash, because the market likes to harm you greatest when everything seems most clear. Crushing my account value immediately following Yellen blasting the forward guidance of every economist in the nation is just the sort of jerk stunt equities would do.
15% gives me room to maneuver. But make no mistake; I am quite excited about the 2013 GREAT CHRISTMAS RALLY OF WILD PASSION, which promises to be even great than the 2012 MAGNANIMOUS CHRISTMAS RALLY OF MYSTERY.
Now sit tight and refill your checking account. We have expensive luxury items to buy and health insurance coverage to lose, ladies & gents.
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sir Cain, how are your tsla puts treating you today?
My Jan 2015 $100 puts (~1% of my 2012 OOY value) are up 100%
My Jan 2015 puts $35-45 strike price (~1-2% of my 2012 OOY value) are down between 30-50%
My Jan 2014 puts $35-45 strike price (~1% of my 2012 OOY value) are down 100%
The position is not profitable. However, if the $100 price point can be taken, I can probably sell off the $100 puts and make the entire position a $0 cost option on a big correction back to the $35-45 range. From there, if that were to happen, it would be like being gifted a full size equity position in my account at no risk to myself. Or, no loss if that move never materialized.
That’s the sweet spot I think. Or then again, what a 4% gamble? Maybe I just let the whole thing ride and see where we end up in 6 months