Thank you Washington for crushing the market and my book today. It just keeps getting worse AH for me. I have to wonder if the politicians look at their 401k or IRA and see it plummeting. Nothing is working for me today except YELP, which I sold. SWHC and AAPL are in the green, but the UA and LULU I bought today are in the red. Fact, EVERYONE has down days, but being as I have been consistently banking coin this does does not really provide me with any consolation. I’m utterly pissed about RIMM, GRPN, P, and FSLR, as I am usually spot on with these names and the drops and squeezes here are ridiculous. I am short GRPN, P, and FSLR, and getting utterly smashed. Usually I would add but I’m scared. P is showing signs of wanting to fall and I truly believe that it, GRPN, and FSLR, will pull a RIMM soon and tank. NO ONE likes to hold these grenades.
So, GRPN announced a possible new CEO AH, causing a 3% pop, and I am considering covering and taking the loss only to look to short it again. GMCR beat, surprisingly, and I’m sure Einhorn is cursing their auditors. Looking towards The PPT‘s algos GRPN is technically poised to plummet, and FSLR is leaning toward OB. All of the above looks good for my shorts, P however is vexing and I feel like I am rolling the dice in the short run, but that’s okay. I bought GLD again because it is an island in an ocean surrounded by sharks, added to my SWHC and am happy that PMM is “chillin.”
Where do we go from here? I thought for sure we were gonna get our POMO on today, but it seemed more like closed market operations. I’m going to hold fast and maybe look to get into EXK and even add to AAPL. I’m truly uncertain of where this market is going, thus I am still ~50% cash, if we rip I’m happy, if we tank, I cover my shorts and buy everyone’s margin calls at Black Friday prices. I suggest you do the same. I added to shorts in the last few days, not following my own advice to “not force trades,” alas I am paying for it. I’ve been winning a lot and today is humbling, but I will have my day in the sun again soon (no twilight).
My Book
Today’s Moves
