I sold out of my stupid [[ZION]] and [[CMA]] positions, for a quick loss.
At the same time, I bought a little more [[UB]]. This is a stubborn trade. I am going against what I believe, which is to kill the banks then urinate on their graves.
I do not like banks. Actually, I hate them. Here I am, like some sort of fucktard, buying them—when I should be selling them short.
There are significant breakdowns all over the sector. From [[WM]] to [[WB]], it looks like the bulls are throwing in the towel, following GS‘s quick “shitting of the shower.”
To hedge my UB position, immediately, I will be selling short [[CATY]], [[PACW]], [[WTFC]] and [[CSE]].
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Glad i didnt following you into Zion or sell off my SRS yesterday! I guess not even the Fly can be right all the time!
The key to successful investing is two tier:
1. Have the balls to take the occasional gamble.
2. Identify when you are wrong, early, to avoid the big loss.
I know I sometimes gamble. Today it was a small paired trade of long Wells Fargo and puts on WB. I hate the banks too, but they are necessary evils.
FTK is taking off
hey there Gunners! now my day will be complete if DPeezy makes an appearance too.
Fly, you might be a day early. Who knows. Maybe MS will have more of an impact that GS. If Corky from Life Goes On gets a D instead of an F, everyone thinks he’s a genius.
FTK will avenge my egregious banking grievances.
dpeezy is traveling the world. i asked him where the f he’s been lately on dpeezy.blogspot.com. he’ll be back at somepoint.
You didn’t do anything wrong. FTK is on a murder spree
I am sticking with UB. However, I will not gamble on the risky names.
CMA and Zion were on my short list. I bought my short list.
Let me write that on the blackboard 1,000 times.
“Never buy your short list.”
I like that: “Murder Spree.”
“Theft of life rampage.”
FTK will avenge my egregious banking grievances.
Glad to see I’m not the only one feeling poetic today.
WTFC may be the “purest play” symbol — especially for a bank — in the history of shorting:
WHAT THA FUCK, Co.??!!
I have to short me some of that shit, post haste.
Glad you finally mentioned CATY (bar the door), I’ve been dying to riff on that one.
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Looks like Willie stopped out: http://www.reuters.com/article/newsOne/idUSN1733138420080617
Erin Burnett keeps using the word egregious on CNBC lately, obviously she is a devoted reader of IBC.
Ever since BOOM gave me painful surprise buttsecks last year, I am very fast to cut trades that do not seem to be going my way. More often than not it is the best decision.
Sometimes, like in the case of DRYS, I miss a helluva run. I missed a 3-day 13 pt run. Fine.
Old men to kill and caskets to fill
Erin’s a Williams girl. A very conflicted set of young wimmens.
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B —
“buttsecks” — lol.
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jake:
http://www.flickr.com/photos/kriostoir/847912114/