Day(s) of Terror:
If you find yourself staring down the barrel of an anti-momentum ray gun, with losses being sprayed all over you face and chin, fret not oh wet one. Every honest speculator who graduated from QE University knows you get TWO DAYS MINIMUM of sheer terror per month.
They keep you H honest.
As you can imagine, my book is down today, 3% to be precise. The reasons are multipronged, from the dick handlers at Morgan Stanley to the collective short sellers, the royal short seller if you will, to the news which came from Mr. Icahn while I was eating a late day taco.
Funny little bit of commentary really, I was short the NASDAQ futures for over two hours today, from noon to like 2:30pm, with my fingers sore from hovering inches above the hotkey to close my position. It was a scalp gone terribly awry. I kept my focus and was able to ride through some noise to get some profit on the trade. I closed it perhaps 5 minutes before the whole shit house went up in flames. Instead of riding my steed to glory I was soliciting street meat. Truth be told I would never hold through that entire move lower but I certainly could have extracted a few hundred more pesos.
GOGO caught a downgrade from Redcoat Simon Flannery today and went spiraling lower. It was only a matter of time, in days, before either a British air raid or any other hit piece sent GOGO lower. If you bought shares of GOGO the minute they gapped up post earnings, you are still up a cool 11% right now. I commend you for flying in my ranks. Let me sum this up so we can move on—Paul Revere was not around to warn us about the British coming. Flannery has been covering telecom for over 20 years. He is old and will be in the diaper long before me. Morgan Stanley downgrading AMBA was an opportunity to buy. So is this.
I closed SFM, AAPL, and YGE. I only like one of those companies beyond a trading vehicle. This lifted cash a tad over 20% to allow me entry into better pictures.
I bought more WLT, this is the look I like right here. This is now my third largest position, behind AMBA and PPC. The chicken don is still poised to ARISE.
Finally let us discuss TSLA. It is coming in on me and I am thrilled. May it rally to bring in some dumb money and then fail hard into year-end. Then zombie chart. Then you will all turn your gay commentary to another CEO so I can have Elon all to myself. That’s when I go full size. Until then, or upon further notice, I am patiently waiting to add more exposure. We have to kill off the hot money studs.
Today was my day to make money actively and I didn’t. Now I have to just sit here and brood. I call it getting my Ryan Gosling on.If you enjoy the content at iBankCoin, please follow us on Twitter