Category Archives: Story Time
There are 3 people who have been instrumental in my career of trading. The first is The Fly, he was also the one who got me interested in blogging. The second, is none other than the Option Addict, iBC’s new tabbed blogger. And third, was ChartAddict, who helped me really refine my trading skills.
If you know anything about the three, then you know that is a pretty deadly combination.
While on vacation, I’ve noticed OA was printing money for you guys. If you are new to his work, this is not an accident, he does this EVERYDAY.
I’m excited to see Option Addict blogging again. His weekly watchlist videos are so money, and a must view every week. They call him the magician, because he will put you in front of a trade, right before the imminent move. I’ve never seen anything like it from all the traders that I’ve met throughout the years. And, I’ve never lost touch with him, even on his blogging sabbatical. He has been my single biggest inspiration in the marketplace.
The point of this post is to make you aware of the skill set here on iBC. And, to make you aware how fortunate you are by finding this undergound finance site.
Also, I would be remiss, if I did not mention Raul3, and up and coming blogger here on iBC. He style is similar to mine, and a real sharp shooter. He is worth paying attention to, and a must read.
I’m happy with the new talent here on this Godly site. The first half of 2013 was stellar to say the least, but I’m even more excited about the final half with our new lineup.
Now, let’s make a dash for trash, as OA says, before the inevitable pullback begins. I’ll be back with a few ideas in a bit…
It seems fly was speaking to me today, his “Be Original” post really hit home with me, and if you missed it, I suggest you give it a gander.
I agree wholeheartedly with his philosophy on conviction. Some of my biggest winners, if not all, were made with conviction. Here’s an excerpt from his blog:
“Conviction is a hard thing to manage. It’s not as easy as some people think. Most people believe being stubborn or ignorant is conviction; but that’s simply not the case. To have conviction in a name, one must be fully educated about the facts supporting the reason to be long or short. When a person is stubborn/ignorant, he’s simply being lazy, leaving fate to be decided by time and luck.”
Conviction is something I thought I had with $AAPL @ $430, however the trade went awfully wrong. I entered the trade a few weeks ago, as the stock traded back above $430. It went to $470 almost in a straight line, and I was patting myself on the back for nailing the bottom.
The stock quickly reversed, and I was a deer in the headlights. I watched it plunge for 4 straight days, all the way back below my entry price.
Once it was back near my entry price, I decided that the sell-off was unfair, due to the market correcting, and decided to give it an overweight positions, adding some April4 weekly options to take advantage of an upcoming pre-earnings run.
Then, the horrible jobs number came Friday, and capitulation was in my sights. I held the position for the majority of the day, as I was not about to sell another gap down. However, 30 minutes before the close on Friday the selling accelerated, and quickly. Capitulation was here.
I sold my stock position and my calls near $422, and watched it trade through $420.
15 minutes later, the stock quickly reversed, trading back above $420 swiftly and with volume. I wanted my position back.
Which brings me to the title of this post.
How could I? How could I go long the very name I just sold, which was once at a profit, but now a loss. Not only did I lose money, but I’m sure I brought others along for the ride, never a good feeling. The trade was so public, and for a reason (to force better discipline) , that there was no way I could buy it back.
The stock closed last Friday like the bottom was in, and I knew I sold it.
The trade replayed in my head at least 20 times over the weekend. But, there was nothing left to be done.
The chart ended up on my monitor more times than I would have liked it to have been over my weekend scans, and I wanted to buy it back.
Monday came, and I was looking for my entry near $423, but I couldn’t pull the trigger. I got a case of the “what-ifs”. What if the trade went again me again? I personally could handle the loss, but the thought of losing more money for others was too much.
Coming into the week I tried my hardest to look at it from a fresh perspective. I wanted back in, but the publicity of it all was too much to bear. I decided to pass.
Maybe this is what separates me from an elite trader? or maybe this is the penalty for being a blogger/trader and keeping things public. Would I have played it differently all together if it had not been for the blog? I’m tempted to say yes, but in reality I have no idea how it would have played out.
One thing is for certain, this is the hardest part about being a trader/blogger.
You’re welcome $AAPL longs, the bottom is in, I sold it.
I’ve been on a rant tonight via twitter exclaiming how fast life is moving by. I’ve been blogging for 7 years, out of college for 5 years, business owner for 3 years, and my little girl turns 2 in June. I’ve been busy.
During this rant, I’ve questioned how long an internet year is. So, I did what any person would do who needs an answer, GOOGLE. This is what I’ve found:
Autos and the web have a lot in common. And, by comparing the two, this guy seems to think an internet year is roughly 4.7 years.
If this is the case, then I’ve been blogging on the internet for 33 years. Clearly, I should be thinking about retirement now.
Earlier in the year, February of 2012, I was doing a crossfit WOD that required a max load power snatch. For those not familiar with a power snatch, CLICK HERE FOR DEMONSTRATION VIDEO.
Notice from the video example that your feet will come off the ground from the momentum of the lift. Well, when my right foot came down it landed the wrong position and my knee went the oposite way, I heard a small tear.
The pain was not significant at the time, but I was like, “what the fuck was that?” saying to my partner, “Did you hear that?”
I kept on through the routine, finishing off with box jumps.
I really felt fine during the workout, but upon waking the next day I could barely walk. Putting just the slightest pressure on my knee cause significant pain.
I rested a good two months with the whole R.I.C.E. method, and everyday got a little better. In April of this year, I decided it was time to start training again, and attempted another crossfit routine, which included box jumps.
I felt great during the workout, but after noticed a slight pain. The next morning, I was back to square one, this time with a burning sensation in my kneecap.
It was time to go to the doctor.
I took some X-rays the next day, and saw a doctor that looked way to busy to help me. I told him everything that happened and he said it is likely a small tear, but nothing major due to the movement he preformed on my leg. He blamed the pain on arthritis, due to small bone spurs he found, and said see me in 6 months if there is any more pain.
Well, there was more pain, anytime I did any sort of pounding ie. running, jumping, ect. my knee would flair up.
Back to the doctor.
In the last two weeks I had the doctor check it out again, give me a MRI, and just recently on Thursday of this week, give me the diagnosis.
The diagnosis: Chondromalacia Petella
It’s basically the softening of the tissue behind the knee. The tissue will continue to wear down, especially during high impact exercises, leaving me with some bone to bone pain in a few years if not careful. He told me it’s time to make some serious lifestyle changes or I will be back in his office begging him for a new knee.
It does indeed look like my plyometric days are over, but the good news is I can still lift. I’ve gained about 20 pounds of unwanted weight this year due to the whole injury, but finally relieved that I have a diagnosis for my knee.
It looks like I will be taking up swimming this year, so from now on refer to me as Michael Phelps. One thing is for certain, the weight is coming off this year, my knee will get stronger, and I will be chasing gold medals all year long, on and off the field.
2013 is going to be a great year.
I’ve had an awesome run the last few weeks, but tonight it looks like my luck will come to an end. I will be faced with some tough decisions tomorrow as I decide if I am to cut and run, or sit tight a bit longer.
I come into the day 60% long, 10% short through $TZA.
It’s all too early to tell, but I can tell you one thing, those $GOOG options I added today (which expire tomorrow) will sting a bit.
This isn’t the first time I’ve been fucked before Christmas. There was one year, I believe 2009, that I traded $GSI two days before Christmas. The setup was there, a beauty. Things were going great, volume was pouring in, the stock closed near the highs of the day, and I decided to hold overnight. The very next day, Christmas eve, the company decides to do a secondary offering, diluting the share price, and the stock is nearly cut in half. Merry Christmas to me.
With so much overnight risk in the world today, I wonder why I don’t just become a day trader.
Mini flash crash on the eve of “The end of the world” 12.20.12
It pains me to have to miss the open tomorrow, but I have a followup appointment for my bum knee. The doctor says I am developing bone spurs and arthritis is likely setting in. He tells me things like, “Cajun I hate to tell you, but you’re going to have to cut out the running and jumping, and focus on things like riding a bicycle.”
My reply was, “THE CAJUN DOES NOT RIDE BICYCLES! FIX MY KNEE AT ONCE!”
The doctor then proceeded to whip out a needle, and said, “Here you go sir, it will help with the inflammation and pain, take this needle.”
Let’s just say one thing, The Cajun does not do needles, EVER. Actually there was a time, over the summer of this year, where they had to stick little needles in my neck for a biopsy. Ya, that sucked. 2012 was a rough year.
Ok, back to the needle pushing doctor. I simply told him again, “Look, I re-injured my knee, I heard something tear, GIVE ME AN MRI, NOT A FUCKING NEEDLE! Please, sir.”
He hesitated a bit, then offended me, then agreed. As I was leaving, he reiterated, “Cajun, stick to the bicycle. Your cross-training days are over.”
Let me just say that I’ve been struggling with this since February of 2012, basically the whole year. I refuse to believe my days are over as a runner, I won’t let that negativity breathe.
Whatever the results are today, one thing is for certain, The Cajun will be running again in 2013.
Here are a few names to watch at the open, CLICK HERE FOR CHARTS.