The employment numbers were bad, but we are bouncing off the lows. Thus far, I’ve sold 75% of my [[SRS]] position and 90% of my [[SKF]] position.
Quite honestly, being up more than 35% year to date, I find no need to be greedy here. I’m not interested in catching tops or bottoms, just the fat middle.
However, I will not adjust my [[SMN]], [[EFA]] and [[DUG]] positions. I do believe there is downside left in those sectors.
We all understand how awful the economy is and how stocks are for asshats. However, keep in mind, nothing goes up or down in a straight line. The downside may be stalled by selling exhaustion.
Do not misconstrue my profit taking ways for wanting to play the long side. I’d rather run around a fucking mine field, with magnets on my feet, in the middle of Afghanistan.
With the proceeds, I will stay in cash.
UPDATE: If you’re going long, hoping for a bounce, be sure to keep tight stops. I believe the market may “re-reverse” and head lower into the close. If you’re buying here, you may end up going bankrupt or wiping out your entire bullshit E-Trade account, by early next week.
Leave the trading to pro’s like me. You over there, just shut up and watch the master at work.
Class dismissed.
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Better play today? SMN or SRS?
short it all.
fucking skf Fly what is your target, you holding strong?
Who else bought this mornings dip?
Took profits at the lows, like a fucking Space Alien Magician.
Its a fuckin short covering rally…
Wait until the end of day…
For shorts, its a much better scenario to have it go up in the morning, instead of pure tanking right away…people will dip their toes if we are down 400 points one hour in.
is BOOMER o.K?
I’m rounding second base, going for a Triple on my GFI calls. The Fly for President!
we may stay away from the downside thru tuesday but we ain’t done yet
you can reload those skf/srs positions
sold my skf @138.60 premarket .. bot some back @ 128 & looking for more @126
covered BOOM too soon at 46 but I take it .. would short it again near 50
Holy crap! BOOM is insane. talk about a “source of funds!” MY FUNDS! Ha!
I blew out in the 47s. Keeps falling. 36 is my target now. holy crap. unreal.
elevator down.
Dear God BOOM is getting killed.
If you’re reading this Boomer, hang in there. Everyone takes hits and loses egregious sums of money, except me of course.
Do not let it distract you from your primary function, which is to generate personal revenue. Money can be replaced.
My advice to you, as hard as it seems, move on and try to hit a few singles. No more big positions.
Its a stock pickers market
My top pick is ININ, its got good quarterly growth and shit. Also, the demand for high quality, cost effective software isn’t going away anytime soon.
Fly, when you gonna let us internet retards into your money mgmt machine? What’s the min?
Ha. I wrote the last post, before seeing Boomers post. Glad you sold.
God told me to tell you to never pull shit like that again. You know, breaking your promise of lent.
Shorts about done covering, back down to the basement.
Slope of Dope dude has some good looking short suggestions
ATI CAH CENX XOM JCP COH HPQ SCHN CEPH DVN DRQ XEC
I got stopped out of my SKF at $103.
I think I may take up “sheetrocking” as a new career.
-DT
DBA (Commodities, mostly softs) getting trashed. Eye on gold stocks for short daytrade.
Dope on a Slope is an enemy of IBC.
Mention his name again and get your eyebrows slapped off.
Thanks for caring to write.
This was a very painful blow. My spirits are up, cause that’s the kind of guy I am. But I though I was gonna pass out this morning. Like base jumping and the chute wont open.
I had some hedges, but not enough. I have now compounded my losses to $249k YTD. On the bright side, how many people can burn $249k and live to tell about it?
My son is still exceptional. My wife, still hot. My job, still cool. My net worth…smaller, but still large.
I believe it was the Man Himself who said “live by the sword…die by the sword.”
He wins again.
I need a drink.
Boomer-Go get a Nashville breakfast with biscuits and gravy (maybe some pancakes, too) and then start drinking. Always drink on a full stomach.
Slope of Dope
Good to hear the attitude Boom.
The worst thing you can do, is try to make the money back quickly. I know that you know it’s a bad idea. However, most people do it anyway, just compounding their problems.
Try to hit those singles.
For starters, if you are working with 500k, only take down 50k positions, with tight stops.
Before you know it, the 250k deficit will be shaved in half.
Juice:
Tonight, while drinking one of your favorite Chardonnays at your favorite eatery, do not be surprised when two over tanned, steroided jerk offs , with a heavy Brooklyn accent, come over to your table and punch your facial hair off your face.
So the fly recommends taking 10% positions and to buy and sell in 10% increments?
wax on, wax off
On the positive side, MVIS is up 10% !!!
thx Fly … wasn’t in the mood to shave today, so looking forward to facial hair removal by your frenchmen … and congrats on your year so far .. nice work
on another note – anyone looking for a long .. I think PTR is worth the risk/reward here after coming off 50% from its highs … lots of support in here .. I’d say 15 down/50 up
and keep your eyes peeled on the brokers/financial complex .. they will lead the direction of the entire tape
MVIS- Are they still in business? I took them off my computer screen months ago when they made their announcement about a contract with an UNAMED Asian company and the stock spiked and burned in the same day. The news from MVIS sounds Bi-Polar. Next thing you know the CEO will be seeing little green men at the shareholders’ meetings.
Boom, this is a very difficult time for you. Others have been there with you. Marty is giving you good advice – take small positions and run the bases. I also want to add, take the safer bets. Tuco aka Gunners is going to be a good source of advice for shorting REITS. Your theme is to look for limited upside. I prefer the MAC and the SKT over SRS, which is like a fucking wounded snake, and you don’t know which hedge swine will need to liquidate his winning positions. Additionally, the retails are not going to melt up today, or anytime soon. SHLD is a bad retail and bad real estate play, all in one. I say these things reluctantly, as I remember looking forward to getting my glove and pigsikns at Sears, my fishing gear.. In fact I hate shorting them.. but that is life now. One more thing, roll into these things slowly, 100 shares at a time, there is plenty of downside left to make that a big position later.
Ask the great Saint of the Miracles, Anthony, to intercede. And buy a little CPTC – they can give you back much of your money without a big investment. Do not go whole hog though.
T-Caddy
Did you listen to yesterday’s mvis cc? I did. Most reassuring. imo 12-18 months from now and beyond, investors in this company will be richly rewarded. Having said that, I can see why this stock would have minimal interest for day/short term traders. Although Tokman did seem to hint at the possibility of some :joozy zurprize toys” in the near term.
GLTA
When you don’t have a clue on the topic, don’t even try to write anything! First find out what people are talking about, and then write what you think!!!