Every so often, it becomes important to revisit the topic of risk and leverage. Reading some comments and e-mails I have received today, I feel it should be addressed again.
Trading options shouldn’t be the equivalent of taking “a last minute shot at the end zone” with your trading account. There are no “sure things” in trading, and despite the best entry point, the best signal, or the best endorsement, you can lose. Don’t bet as if you’re a lock for the win. If you do, days like today will reset your expectations.
While I might stick to conservative risk metrics in our approach, it is for a reason. My goal with you guys is capital preservation first, gains second. Should you choose to call an audible at the line, remember the market is Richard Sherman-like and will bust your ass the first time you roll the dice.
To keep running with the sports references here, in any sport you have to learn the fundamentals. You study them, learn them, execute them, even live and die by them. Once you are unconsciously competent in the fundamentals, you’ll know enough to learn when to improvise. Until then, keep drilling down the fundamentals.
In regards to risk, I bougth ECTE this morning and DECK Feb calls here. I like these match-ups.
OA
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I want to play like Peyton. march..march..march .. SCORE
Peyton doesnt throw the deep ball any more. Peyton has been throwing higher probability short throws which lead to big gains! He knows the deep ball with be Richard Sherman’d
exactly
and some of them become runners after the catch. 😉
From your room I learned to trade like a boxer, staying tight and picking spots. However there’s always a chance you can get hit with a wild punch. If that happens we just get up, train and fight harder, there’s always another opportunity.
Based on the RUT trend, didn’t we expect a day like this? This is why I was asking yesterday if we should wait for the pullback to deploy capital. I know we don’t trade the market, we trade stocks but almost all of those stocks presented better buying opportunities this morning because of the general market pullback. The ones that are still in their trend patterns look ripe for the picking.
Capital was already deployed, El Capitan.
Gotcha. I had a bunch from closing Jan positions last Friday and have been trying to be patient in redeploying it
And when capital has already been deployed, what’s to tell me when I should close ANGI, CAMT, KBH, INO…the stuff that doesn’t correlate to the Russell? It’s tough, half the time we see market weakness, we’ve traded through it very well – in many instances had very profitable days.
I always get back to manage the stocks, not the market. Just my opinion.
Good point.. Also, exiting and reentering would be costly for those of us playing with smaller accounts.
I ask these questions in an attempt to get better and I appreciate you taking the time to answer.
Absolutely, it helps to understand what I am attempting to do here. You look at how many times the RUT has been down the last few weeks, and where are returns are in that same time frame, you start to see the S.O.M (stocks over market) theory, rather than M.O.S.
all i’m saying is “OMAHA, OMAHA!!!”
does anyone know what peyton means when i says that?
*he
I met him, took my picture with him, and have an autographed football from him. I’m from Nebraska, so we decided instead of him using my name to say hello while playing on national tv, he would just say OMAHA…so it’s like he’s saying hi to me all the time, but in a not so obvious way.
Weird. I have the same arrangement with him as I am from Omaha as well. Its good to see somebody so close to home in here.
OMAHA means snap it on the next sound. Like if the play clock is winding down and he can’t finish the snap count before getting delay of game penalty. The defense knows it, but he will cross up the defense from time to time by telling his team to disregard the Omaha call.
Only partially right. Omaha is for “out” to audible OUT of the current play. In HS we ran it on defense so we could get out of a blitz if the offense went spread.
Omaha is the reset call. Peyton calls a play at the line of scrimmage, if the defense reacts and adjusts because they know his signals, he simply can yell Omaha, and it goes back to the “default” play. If they go to a huddle first, it goes back to the play originally called.
So Omaha is a way of turning whatever is called at the line into a “dummy call”
The reason behind this is so both the defense can’t exploit his signals, AND so that Peyton can call all sorts of plays at the line until he is convinced he gets the matchup he likes. He is HOPING the defense will show it’s hand after a dummy call so he can read the blitz or coverage and then either call the play he wants or go “OMAHA”. Alternatively, yes.. If he is running short on time and can’t get the entire play called at the line in time, he can say Omaha and quick hike it.
hilarious… “Omaha!” prop bets in vegas:
http://www.bloomberg.com/news/2014-01-23/peyton-manning-s-omaha-audibles-become-super-bowl-prop-bet.html
House builders holding very very well..
If the ARIA buyout by LLY (or PFE) turns out to be real… Then my year will be complete
are you hearing anything specific in terms of a buyout price?
The number being thrown around is $20
Hopefully a bidding war pushes that higher.. Doubt that would happen before the Feb deadline so this might be a good one to take delivery on.
ARIA is another reason that diversity in the portfolio can save you on a day like today. Diversity (n): the name of an old navy ship from the Spanish civil war.
Just grabbed some GRPN Feb calls. Held yesterday’s low. Wound tight.
I’m eyeing up GRPN too, looking better and better.
Loving the homies and ANGI today also.
Go Seahawks! 🙂
Heck yeah managerlou. We got this.
i agree, GRPN being down only 1%-ish today is encouraging. it could be much worse.
Only thing that’s missing from this seemingly perfect set up is the 1-2-3 confirmation we like to see. I might not be able to wait for that though, price action getting so tight (no ANGI).
Jeff, any thoughts on overall low volume on this selloff? Seems to me more like a “shaking weak hands” kind of correction.
Yeah, same ol’ same ol’
out of my $AAPL yolo from 1.22 to $4.50 – not bad for a couple hrs worth. Not quite my target but I reassessed and decided to lock in the gains.
Nice!
way to work it…could you post a sfun yolo for me and move it up so i can get back some gains lol
Even though I think you should’ve let it ride, that was a nice trade
thought crossed my mind as well but I got scared out of my original target at $55 when the market started weakening further while AAPL was flagging. Bird in the hand better than a gift horse in the mouth or something like that…
Lol… Next time you have a holo though I’m going to follow suite – I think your target just got hit
Holo = yolo
i have to stop watching it – now!
AAPL deleted from quote screen 😉
(very validating to see it hit my target even though I lacked the conviction to stick with it the whole way – credit where credit is due – thanks Jeff!)
thanks! – I’ll see what i can do re:$SFUN !
I’d like to see my TWTR 62.50 yolo from yesterday, start to make a break for it also.
Great play! About the same time we were discussing $AAPL earnings took next week’s 550’s, but given the ramp to 555 took a quick +30%. Wish I would have done the YOLO’s as well but had too many of those on already!
And yes, I know that the less-than-triple-digit win is nothing around here, but still lol.
a win’s a win at the end of the day – they’re all better than a loss.
So while we might throw a little bravado around, it’s more about (in my opinion) sharing the wins to foster a positive environment.
On that note, TWTR 62.50 yolo, coming back from the grave as we speak!
I proposed to my local purveyor (Subway) of terryaki chiken sandwiches purchasing said item on margin – they were not amused.
jared fogel does not offer buying sandwiches on margin?
maybe you could try shorting the sandwich , wherby you ‘borrow it’ and return it to them later, say 8 hours, at what is surely to be a lower value, although im not sure theyd be amused at what will clearly not be ‘good delivery’…profitable on your side of the ledger tho..
yeah, i can’t imagine the value of the sandwich increasing over time.
seems like a “sure bet” to me.
haha
I’m not here to critique Jeff’s commentary, but based on some of the comments I’ve seen here and in TA Live room (not necessarily today), I think something should be clarified for people relatively new to trading. When Jeff talks about “the fundamentals” in this post, he’s not talking about fundamental analysis as opposed to technical analysis. Fundamental analysis usually refers to the study of a company’s PE ratio, revenue streams, and other metrics that are irrelevant to short-term option trading. Jeff is referring to the fundamentals of choosing a trade and managing risk; the basic stuff he teaches everyday.
(Jeff, if I missed your point let me know and I’ll retract this.)
Thank you for clarifying. It’s precisely what I meant.
As someone who’s only been around for less than a month, that’s a good clarification to make. I had a feeling that’s what was meant but I was wondering a bit.
fundamentals are a crutch for the talentless.
Here is a story of bad trade management… thought I let go of all my shippers last week and here I am scrolling through my holdings and I see a shipping stock. Shame on me. I know people don’t like ETF’s here but I took a position in EWZ.
Jeff. regarding account management do you always maintain a defined % of cash to be ready for an opportunity for a new trade? 10% 20% Pissed i don’t have enough to buy into this dip.Also you’ve said you like GS after fast moves down recoveries.Still true?
Good eye on GS. Love the year low IV. Jumping in a few Feb. Havent decided the target yet.
IV hasn’t been this low since 2005. Very interesting
Anyone have any info on VNET? Finviz says 97% short float. China tech services. This came up in a screen and grabbed my attention due to that absurd number.
i have it currently at 5.5% based on Thomson data.
the float is at 96% of shares outstanding – maybe that’s where they pulled the data from…
Thanks
A while back, when describing how stock prices get sucked up through volume pockets, somebody had compared it to those money capsule tubes you see at the bank.
i had furthered the discussion by saying it would be great if we could re-purpose those money capsule tubes to create a burrito delivery system. By which you would go up to one of these “burrito kiosks”, select all the ingredients you wanted on your burrito, and then press send. The burrito would then be delivered to you in seconds via the “burrito tube”.
Apparently one of you stole my idea, and improved it (no tubes).
Which one of you did it? 🙂
http://www.nydailynews.com/life-style/eats/burrito-vending-machine-arrives-los-angeles-article-1.1575453
Holy crap, you’re not kidding!
me… i never joke around. 🙂
Jeff, what do you think of entry here for $EPI for IRA account? Using some of your metrics: Consolidating with lower volume; price maturity well established; nearing lower wedge trendline; nearing 50 DMA and 200 DMA.
I don’t invest the same way I trade…
So you use different criteria? Like theme, stories, etc? Can you elaborate here, or in AH? Thanks in advance!
One can trade in an IRA account all the same 🙂 I do. Not saying you should be option trading with your main source of eventual retirement income…but you can also have an IRA set up just for those purposes. And hey if you do it right there will be lots of tax free gains in there one day 🙂
Leo I’m doing a ROTH IRA using Jeff’s Options Strategy, and an every-day portfolio using it as well. If it ain’t broke, don’t fix it. Manage position sizing, manage emotion, and stick to your trade plan, and all-of-the-sudden that fear that people associate with Options trading quickly turns into confidence. I have nothing but gratitude for OA and all the folks who keep this place a very special trading/learning environment.
Couldn’t take it anymore. Bot GRPN @ $10.65
And quickly logged out of the account so I wouldn’t cry too much about seeing red.
Should have listened to myself about playing puts on MLMs after NUS last week!
Jeff, one more question: $RIG – Last time you mentioned about point & figure support at $46. can you comment on it during AH? (I can’t attend) TIA!
Not for a trade though. No short term payout here.
ISRG is always a big mover on earnings, anyone going for a yolo into earnings today?
can you please explain YOLO for me?? See it all the time..I know its something very short term…please and thank you
yolo
“you only live once”
used to be called “lotto trade”
They represent high risk OTM bets in the options that expire at the end of the current week (sometimes following week) that will go to zero if they don’t make a large move in a short period of time. If they don’t go to zero, they have the potential to make multiple hundred percent
Jeff made a post a last week about YOLO’s that had a great video that helps to explain Y.O.L.O.
PCLN 1217.50 call for next week. I’m a glutton for punishment…not recommended…strictly risk capital.
ascending triangle intraday, if you dare look at it that way…its a tempting yolo for tomorrow…so not completely reckless.
Indirect way to play Starbucks earnings without the high IV is to grab some GMCR here. Riverboat style
In GMCR since last week. I’ve been drinking their coffee like crazy trying to motivate the coffee gods to help me out with it.
I have an option that is currently priced at $1.20, but the bid/ask is $1.35/$1.45. I think the current run is done (it’s NQ) and if I just sell it using a market order, it should fill at $1.35 right away, wouldn’t it? Sorry about such a basic question, but I just want to know if it works the same as stock.
Take yesterday’s low as your starting bid.
Market order for Options typically give up a few pennies. A lot of times a trade will execute almost instantly on a limit order placed directly in the middle of the bid/ask. Always worth a shot.
@ Danny
Any ideas in this crapper of a market ?
Jacked Rabbit yes it will maybe higher but why not just enter a limit order of say 1.40 to see if they sell?
Ian and Danny, thanks. I don’t think it will fill at $1.40. The option is at $1.35 now, I might take my 105% and run.
Anybody taking SBUX b4 earnings? Quite the hammer today
@Lan bot Cree today and more YGE. I love Cree on this pull back bot Feb 22’s $65
@danny… you inspired me. only i bought CREE Feb $67.50’s
IV is super low on these post earnings.
If you’re not buying today shame on you!
Went long Dang here @$9.87
+1
+2
like the idea Danny, followed just before the close. Thanks.
As did I
Love that pick, retest after b/o. Had I not run out of capital I’d be there with you guys.
Same here. Small position in Feb calls, with the intent to double the position size tomorrow morning, should prices be down again. Emphasis on the small position size.
Last 30 minute dip buyers showing up here. Learn to love pullbacks; alotta $ to be made in the coming weeks. Leveraged to 120% now…lol
Stare the devil in the face and give em the finger… Whew I need another red bull
Since I know that most of you are discouraged today – here is a reminder of how the market can help you be all you can be (and no I’m not sharing the title):
http://putlocker.bz/watch-the-wolf-of-wall-street-online-free-putlocker.html
buckle up for pcln, someone yolo with me. 1 strike out for tomorrow.
I’d like to see another YOKU entry set up here in the next week
YOKU is a good set up here. We discussed yesterday $31 is a great entry
I always get a kick out of seeing prices almost perfectly bounce off trend lines I/we had previously drawn on charts, fun stuff. I didn’t see YOKU today though until it was mentioned here.
YOLO PACB
$GRPN @ $10.65
$CZR!
I don’t know about you guys but I am kind of excited to see what the market does tomorrow.
I am with you. That last minute was crazy.
What’s weird is the dollar is down sharply today. So people didn’t go to cash, but they rotated into bonds, the euro, gold, and oil.
and yen.
I’m excited also…. as long as it bounces back.
ANGI KBH both up today.
I confess
…to a crime?
I refused to look at my account balance all day until the market closed. Not as bad as a I thought after seeing every stock I own red at one point today.
Took long option positions in BIDU and DANG this afternoon, around 3:45. Anyone else do the same? I’ve learned to love the sharp sell offs.
Got in BIDU its low.
near* its low.
I was at a conference all day. thank god.
I caught the end of the day and I bought PHM, and caught IWM at the low of the day to the penny! Big position.
Imo, TWTR and LNKD are gonna rip next week.
and ARIA , how about ARIA love it.
More crummy news out of China. Don’t know how the Chinese stocks will hold up. Guess we will find out tomorrow.
Anybody looking at $RAX , decent looking chart
the cub was being fussy and not wanting to sleep, so the only thing calming him down is laying on daddy while listening to tonight’s After Hours with OA video.
Observe:
http://i44.tinypic.com/296eq1.jpg
That there is the best feeling in the world
Awesome, Matt.
Watching GERN and RNN. OA can I get your thoughts on RNN? I feel it may retest 2010 high. Watching the pullback. Thx.
ANGI upgraded to BUY at B. Riley
wonder if today will be a “dip and rip” day or a “dip and holy shit” day. buckle up.
Mind your strikes and your dates. What part of the bloop are your trades in?
Well this is bad. Damn this sucks
ANGI’s the only thing keeping my account from melting down completely.
Nevermind, lol
haha..
well hopefully GRPN found its bottom. i know its early, but it kinda has that look to it.
yeah GRPN… leave a tail. go baby go!
See.. ANGI does put out, she just doesn’t want you to think she is easy.
Ultimate $%&^ tease.
I struggle with selling. Before I sold too early (YGE, TWTR) so now I hang on only to see profits vapourize (FB, ANGI?)
was up 3K on FB. Target 60. now down 3K
This game is hard….always
if it was easy evryone would be doing it …
jimmy, in your rush to fire off that zinger you made a typo…
What I’m saying is that Jeff always talks about how the big wins take care of the small losses. So the emphasis is on the big win. Possibly too much.
Just opening up a discussion here.
This brings to mind the chart Jeff showed when discussing account management. The idea is that the account value shoots up in a straight line, draws down, draws down, shoots up, draws down, etc… which translates numerically to probably around 3-4 losses per winner (or more). The point is when the green grows you nurture it instead of cutting it short, and let the red fall by the wayside.. aka let the big wins take care of the small losses.
It works if you position size correctly and can stand the volatility and have the right time horizon.
Lovely comments
Yes, and position keeping in mind that premium can go to zero if the trade fails.
You are right. I had been thinking about that account balance chart since I wrote my comments.
I’ve been trading for many years and still have a hard time getting used to this. I guess that’s why I’m here with the OA!
Thanks guys
FB should have been cut after the failed breakout and decline back into the range. If you had a good targeted entry at the bottom of the range, you could have sold there for a flat trade or even a small win. I made the same mistake, pretty much out of pure laziness and a penchant for gambling, and lost most of the premium. My point is that it’s not the process most of the time, its execution. See here, specifically where to exit with a loss: http://www.investopedia.com/articles/trading/08/trading-breakouts.asp
After a very slow day before in FB, the opening yesterday was very fast and caught many.
Just like ANGI today with a different outcome. Did you cut your loss today on the failed break? Just sayin…
FB was an ascending triangle at all time highs, ANGI is a totally different setup so no I didn’t do anything. I’m not trying to offend you, just sharing ideas about the FB trade, risk managent, trade plans, etc….GL.
classic $ANGI. not minding watching this stock from the sidelines this month.
Anyone else think RUT has hit the bottom of the trend line? Need some input.
If it has, then time to buy and quickly..
No, 112.5
?
IWM, for $RUT that would be 1,125. Trend line back to Nov ’12
ETFs tend to make slow trackers.
ANGI and ARIA carrying the load upward today!
Added $CZR Feb 25’s – one that I missed from last week and added to my underweight GRPN Feb 12’s. Looking for more on sale…
Trying to get those as well boulders. Great place for it.
trying to find the still-intact setups out there amidst the sea of red…
PHM, ROVI, CRZO I’m looking at. I’m afraid CZR is getting away from me here…
those look very solid – thinking maybe GS is looking like a solid rebound candidate. Very long term support at these levels, low IV as was suggested yesterday…
you might still get a shot at CZR
Just got into it at .30.
I’m also holding off buying anything though throughout the day. With making no moves over the last 3-4 days, I’ve now sold two while buying CZR. That’s enough work.
yeah pretty ugly out there – not a sign of buying to be had at the moment. Time to wait for the dust to settle…
danny, you liking that CREE bounce?
It’s showing some strength compared to the rest of the god forsaken world…lol
we need a higher low right about now.
Jan 13 lo 23 hi 1154 60% retrace, I think it’s the low.
TF_F that is.
Jeff, do you still like Chinese solars one month out? I’m holding JASO and YGE over here.
Charlie, my solars are placed in the “check it in a week” part of my portfolio. The premium isn’t worth getting back at this point, maybe in a week.
Plenty of time left in Febs
I do, can’t sell them here.
not happy that RUT is leading us down today vs. s&p and dow
a bit unsettling
Picked up YGE stock here $5.99 take out special.
CMG has a massive pocket below…
Went to get a pop this morning and the fountain machine was broken. At that moment, I instantly knew it was going to be a bad day, but I still opened my computer when the market opened. Bad decision. On a positive not, the weekend can only get better from here.
What does everyone think of a $TWTR weekly here? It’s holding up pretty nice, RSI is very low. Thoughts?
Liking the looks of TWTR.
Keeping powder over the weekend. More jittery markets than usual IMO
CMG is gonna take a ride on the burrito tube South
ok… can’t watch anymore. too bloody out there.
Like being slugged in the dick with a spiked hammer. Geez. Sold off some weak shit and kept all my FEB’s with the worst entries known to mankind
The Fly would be proud Danny
amzn long here? trying to catch this knife on the 392.50s
Every time we get a decline like the last two days in 2013 we’ve subsequently rallied hard. I would expect Monday to be a rip higher at least for a relief rally if nothing.
DECK is holding up pretty good today. looking at the Feb 80’s & 85’s.
Today looks to be a great day to start positions in the long term hold Biotech basket.
Any names you like boiler? I like SYN and CBMX.
ANGI is a classy lady. That’s the only good thing I can think of to say right now, lol.
Maybe somebody can come up with another one of those funny little ticker symbol stories.
$ANGI doesn’t put out, she’s a real $DRYS $HMPR…
nevermind that was stupid.
Not bad! They aren’t easy
Jason, don’t think we had 2 days like these last 2 in a while. The bounces have come off 1 down days usually.we will see. Wish I waited on my fslr calls
Stalking VXX 41 puts
I opened an option position with 1-2% of my account. It then ballooned to 5%. But I had 3 of those ballooning positions (so that is now 15% of my account). Yesterday’s and today’s action have destroyed those positions. So just 3 positions have taken out about 12% of my account in 2 days (plus my other 20+ bloody positions). Pullbacks are part of the game and the trades still look good (not broken or wtf ever)… I’m not even phased because these don’t expire until Feb! And if I didn’t trade OA style I would’ve never found these possible 400% and beyond winners in the first place. Hanging tight unless something changes.
ARIA to the F- ing moon!
Quite a day. Have to max this one out. Do we get to $10.
FSLR bouncing off of 200day here
INO went up a tad and MY ECA calls are back into greenland
Maybe look for a NATGAS player that got nut-sacked this morning and is about to spring back?
DNDN and DANG look good here
ANGI and ARIA are the only 2 bright spots in my portfolio. LNKD also acting well. Wanted to add to other positions but Fly scared me away. Many setups also seem “failed”. E.g. ANW, YGE, RKUS, etc. The compromise is to just sit this through.
now would probably be a good day for OA to send all his incoming mail directly to the trash.
lol twinkies. Today’s webinar is going to be good stuff. Lots to learn on these days.
+1
some of my biotech stuff is coming back first
Took a big YOLO on the REE Feb 2 calls for .05
i would love to see angi moving the same direction like aria is doing today
anyone holding ARIA ?
want to know if u guys plan on holding into the weekend?
Yes! And plenty of ANGI on the side!
Before my OA days I would have taken the quick profits and sold. Trying so hard to let the winners run!
I will think about cutting my ARIA Feb calls in 2 weeks
Unless it hits $20 before then
u think it holds gains if rumors are false?
Probably not, but it just caught an upgrade on top of the buyout talk @ $20 from LLY or PFE… My plan was to be very greedy with this one so maybe get some more opinions.
I have weekly 7s that need to go this afternoon
are you going to exercise them?
As far as I know we’re still operating on rumor here so I’m going to sell them instead of taking the risk. But I thought about it due to the massive upside still on the table
But that’s really more about today being expiration. I would hold monthlies.
understandable still trying to make my mind up but im holding monthlies
I have both a $7 monthly and next week’s $7.50 weekly. I’m keeping the monthly and thinking about closing next week’s yet today. This is just too good – for me – and I’ve done a junky job managing my trades in the last week of expiry. That’s the reason I might cut my gains on the weekly.
i will hold my aria calls over the weekend for sure
marijuana is simply a consumer staple. GWPH
Ole Angi and ARIA keeping my portfolio from drowning in the blood.
TWTR is setting up quite nicelly – it’s gotta move from here – one way or another.
Gonna take a shot? I took a small, small position of 31 Jan C 65’s.
same here bud
I picked up the 64’s
Correlated positions plus iwm killing me.stops would a helped
ARIA and ANGI making it bearable….
2 things are apparent, in the midst of all the turmoil, women will continue to buy shoewear and clothing as predicted by the action in DECK and LULU…ANGI has the $ to go shopping.
has anyone dumped any positions here?? be honest lol
ONVO for a loss, NQ for a win. Bought CZR. Still holding solars and GRPN, among others.
Still holding everything. TRLA is killing me but it still hasn’t hit the low from last Monday.
The only thing I sold were positions that expire today.
There’s a few I want to cut, but haven’t yet. Holding for a 1 day sell off wasn’t too bad, but holding through 2 of these days…ouch. I’m taking serious looks at the trade plans on a few positions… QIHU is on the sell list *again*, hurts to see it where it is now, but still green from entry.
I sold every position that took out the support levels I defined before the trade, same as I would if the Dow were up 1,000
my iwm put i bought 2 day’s ago i sold with a 102 % profit
I’m holding ARIA stock and have a March collar.
holding everything thru the weekend
I have 29 positions in the red today but QIHU is the only bummer of the group. I should’ve sold when it broke below 90… Now it’s at levels i’d be a buyer so I guess i’ll hold this P.O.S. You still holding managerlou?
Speaking of…I actually just posted above about QIHU too. haha
QIHU held up great yesterday, today it’s having the opposite look to me. :-/
I still have 2 week until expiration. I have begun my prayers lol.
Wonder if OA will buy into the close or if he is concerned at all about the selloff. We will did out I guess.
odd he’s been mia most of the day during one of the biggest days in last 6 mos.
hope everyone is staying a float out there
looks like the poll results OA took last night were actionable! Still seeing a lot of bullishness so makes me nervous.
Not buying into the close
i agree with not buying the close. this is now a legit 3 day broad market selloff and I’d be curious to see if it generates any margin calls. Biggest 2 day selloff since last June.
Is it bad I’m hammered drunk at 3 in the afternoon!
aren’t we all?
It would be bad if you were SOBER on a day like today.
in relation to the calendar, this is a great time, if ever, to get “caught” off guard. We’re out of January’s and fresh into Feb positions so we’ve got a TON of time to manuever. We have 20 full trading/business days left.
I think we all want to join you. I wonder if matt_cub is milk drunk now too? (At least that’s what we call it when our newborn is lethargic after sucking on the teat)
Ooops, for some reason thought that was matt_bear getting drunk. No..I haven’t been drinking at all!
i’ll be joining ya. drinks a plenty tonight.
I’m Scottish, my ancestors drank, it’s 9:00 pm there, so my genes are used to being drunk at this time. cheers
I’m toasting to ARIA this afternoon.
Cheers!
I’m not hammered YET…
I hope no one is buying the blood today. Real time to buy would be after more blood shed on Monday. My two cents.
Yawn…
If a 2% correction this week in the market drives you to drinking, you’re doing something wrong.
Oops replied in wrong spot stocksrider
any old excuse works though, right? As long as its a proper drink, and not some dirty old Swish!
Well if OA isn’t buying then it’s probably not a good time.