I covered all of my oil shorts, except for a token 5,000 shares of DUG. And, I covered my ESS and FRT shorts. Moreover, I sold out of my SDS position.
Basically, I am 75% cash right now, with a little DUG, DRR, short CPT and REW.
In short, I kept my longs (15% of assets), rung the register on shorts and now find myself, in my high end chair, eating a sandwich.
UPDATE: I bought 10,000 TNA @ $13.55.
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What kind of sandwhich, sloppy joe?
SPX 703 is a reversal point. Wonder if it sticks.
Fly-
I’m ready to unload some more shorts and ietfs at any inkling of a bounce
But wait there’s more!!!
More pain that is
Tmoe:
No point in trying to ride this fucker to zero. Take your wins.
What kind of sandwich:
none of your fucking business.
Anybody else hear the rumor that it will be Larry Kudlow running for the Senate against Chris Dodd in Conn?
I got out of ERY with a nice profit. Thanks for that one FLY. I am going to take a small position in DZZ. If it is up in this crap fest, i do not see a lot of down side risk.
Cheers!
I’m right behind you and i see that its olive loaf.
Enjoy.
T MOE sells a little SKF, SRS, TWM, SPY shorts
Fly:
Market trying to rally some. I didn’t know you held such a large short position.
No thank you’s, assholes. Pay homage, via subscribing to The PPT. Brazenly, I suggest doing so. That’s right.
With big tech GOOG, APPL, AMZN, etc. consolidating during the latest sell off, I cannot feel good about even a bear market rally until these crash as well. Those will be the last to get ass raped and until that happens, its more of the same. Look for those to lead the next move down.
HUM is so tempting here.
Anyone got a target for SRS or take off teh table?
TraderCaddy:
By aimlessly clicking through a series of links, I somehow found myself at Huffington Post earlier today.
They have a couple of stories about Kudlow talking to people about a senate run against Dodd.
tna?
so much for not touching those instruments.
fuck you.
it’s a floater.
There’s still meat on the bone with the short side. VIX in the low 50s. AAPL, AMZN, GOOG havent hit the shitter. No reason to get long. But good luck. I continue to stay short.
pulled the trigger a bit early on TNA
GAP down or crash sell or $12.xx is my entry pt.
FLY;
Floater like a toilet trade?
Fly, wonder how many billions Warren Buffett is down right now (and lost in his recent dumps of stocks at losses).
That old fart bought BNI around 90.00ish
go here.
http://www.gurufocus.com/StockBuy.php?symbol=BNI&GuruName=Warren+Buffett
i hope someone runs against Dodd and beats his sorry ass. his office denied my application for appointment for the US Naval Academy. Fortunately I got one from Lieberman and now I’m a commissioned officer.
When does stock market 2.0 come out?
Take your wins and be happy.
Thought I was kinda late to DUG on Friday, so just bought a little w/a tight stop.
Paid for my PPT membership plus several sandwiches.
Thanks, Horatio.
Erin is interviewing a genuine Leprechaun right now…
CNBC skanks..Cabrera..Herrara..Bartiromo should be used as decoys in an Afghanistan bomb factory…
“UPDATE: I bought 10,000 TNA @ $13.55.”
What are you trying to make JakeGint look bad with his $15.90 entry…
what’s with the pop in BAC?
bought a little WNR.
FLY
What about WNR?? You still hold it?
Fly
Your timing is good in general and i understand you don’t want to pillage the nation more, but i would like to point out that the pillaging of oil stocks will continue.
The oil contango is narrowing, therefore all the arbitrage investment techniques require a further sell off of even stored oil, not just paper. a doji followed by a long red candle = turnaround and further selloff.
A bounce in oil will prove to be a great short again.
Market continues to get fondled by clowns.
VIX to 75; DOW to 6000.