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First and foremost, if you are selling the TSLA $200 dollar roll, you’re doing it wrong.  Sell it at $225 you goof.  I want to take a quick bow, over here, for sticking through this bad boy all quarter, grabbing the golden ring in the process.  Here we are, at the $200 hundred (extra redundant) handle, wondering if this will be the next asset mania.  I bet it will be.  You are no longer cool in the inner circles of California conservation unless you boss a Tesla through the ungodly herds of traffic.  Everyone knows you love your planet in style when you drive a TESLA, you can’t lose!

I, on the other hand, can lose.  I have proven that to myself recently via a string of errors.  Error one, I got spooked into buying TZA.  Error two, I bought SCTY yesterday knowing it was the stalwart stock during recent weakness.  Of course it takes a back seat once the rest of the market comes ripping around.  Plus earnings are around the corner.  Needless to say, I am working with a red position here.

We are experiencing a violent amount of uncertainty in the market place, even though bulls are presenting themselves as the winners.  This is about the 7^th inning of the ballgame and the buyers hold a three run lead.  It is their game to lose, but the sellers could still pull off a victory here.  Right now they are losing.

My book is almost entirely long, yet my gains today are moot.  Dragging me down are SCTY calls and TZA. Even without these positions, I still would not be having a real humdinger of a day.  My book just isn’t propelling like the indices are.

A few future events can change this.  I still hold OWW calls, risk I laid out on January 22^nd.  They announce earnings on the 13 and I will either lose the rest of my premium or get bossed up.  The risk reward is heavily skewed in my favor so I will let it roll.  I have a large ACAD call position, February expiration, and that chart is more wound up then a nun in a men’s locker room.

The Frank Abagnale trade in FB is still playing out, where panic buying is yet to convince me to sell.

Thus I will sit here, in a bathtub full of land mines, wearing only my TZA g-string to protect my unit.  I have a little less than 10% cash left, and I intend to use it. Soon.