This market is driving me fucking crazy. So you know, I have millions of dollars in cash, ready to be deployed. I am over here thinking of different strategies, which include long/short pairs. Essentially, there are some specific names that are way over valued and several NON-LEVERED ETF’s worth a looksy, like [[SEF]] and [[RWM]] . However, when scouring for short ideas, I am reminded of the the HORRIFIC— and seldom discussed losses— I incurred, back in the old dot com days.
Prior to the bubble bursting, I suspected some names, like Extreme Networks, Inc [[EXTR]], were fucking retarded and needed a good lashing. I remember shorting that bastard every day for a month. It went up in my face, nonetheless. It not only went up, it fucking “space rocketed” into outer space, leaving me dumbfounded amidst large capital losses. The good news: the short position was merely a starter position, less than 5% of assets. So, in the big scheme of things, it had little effect on my assets overall. However, the percentage loss was ABSURD. I don’t remember exactly how bad it was, since I hypnotized myself to forget such wretched experiences. But, if my notes are correct, the stock did something like $50 to $200 in a month. ROFL @ the idiot shorting that! I covered near the top of the range, just before the stock collapsed and settled into a permanent burlap lined coffin.
This market has a similar feel to early 2000, when everyone thought the market should go down, but it just kept charging higher—until it stopped. When it stopped, as you well know, no prisoners were taken. We all received the ominous “black flag.”
In summary, I’ve managed to avoid fucking myself by choosing [[TLT]] over going short. That’s a plus. Despite missing out on big gains, I have no regrets. We all have our investment style that is unique to how we think. Sometimes it takes time for a thesis to pan out, other times it happens immediately. As good as the market feels now, remember the pain you felt when your local bank was forced to suck the tit of President Bush, via bailout. By no means are we out of the water, just yet. As a matter of fact, we are building the world’s largest and most successful ponzi scheme, similar to tupperware sales ladies, only MUCH bigger and far more sinister. Also, please remember, you are trading a bullshit 5 figure account at Zeeco.
Trade accordingly.
UPDATE: I sold out of Visa Inc. [[V]] , north of $90.80
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One hungry haitian,
I understand that your country is messed up, you have our sympathy. However this problem is with your goverment and mother nature. One can be solved by a vote, the other can be solved with good engineering and hard labor. Have you considered joining your country to the united states? It would solve the bad government and considerably help the economy with jobs.
Why would we want that shit hole you doofus? We already have Detroit.
Ahhhh, but they are going to bulldoze Detroit and turn it back into farmland. Haiti will be rebuilt.
Yes. I think we could muster enough votes for annexation. However, I belive any annexation would be contingent on your willingness to retroactively allow us access to social security and medicare. Naturally we are going to want healthcare as well. If you want us, you are going to have work for it. Show me something. Don’t just spout empty rhetoric! What do have for me? Tarp? Bailout? We are not just handing over our industries (Nigerian Princess emal scams and back row shaky handed DVD reprints) to you for nothing. Talk to me!
Just kidding.
Goat roping as a profession? Come to houston and try your luck at bull riding. All it takes is 8 seconds and not getting stomped by rhe bull. Aort of like stock trading.
Our government bails out everyone, israilies, iraqis, banks, investment firms, contractors, and it stil holds together. As far as health care goes, you guys are in the same boat as us unemployed. Hoping not to need it soon. Medicare? Well, as it stands, by the time I get there there will be no money there, so I can only hope. See its easy to believe when you have Obama politics. Maybe it will help, positively will harm. But we hope…
Yea, but detroit in not caribbean, no one wants to gamble in casinos in weed choked empty lots, but in rum filled beach front property?? Positively!
Capt. Morgan rules!
Fug? This market sux
Ever think about giving it all away? Becoming a Philanthropist?
No.
Good. Just checking you.
what about this thesis: While the Euro is getting raped money that was invested in Europe is coming to US via Treasury and Market buying …IE enough capital for everyone to go around
same happened to me back then. stubborness is not healthy anywhere, anytime, . . . .
hey thanks fly, new to your site but it’s the first i go to now to make sense of the insanity.
Not me. The first thing I do every day is get up, listen to my Village People Records, do some snap kicks in front of the mirror, THEN I head on over to IBankcoin.com. Just me. Like Fly said, “Everybody has their own investment style…”
lol
Zeeco? Yuk – give me IB or Tradestation anyday
TOS – no thank you
Hey Fly, how do you make your trades? Ameritrade/Etrade/etc, full service brokerage? What? Just wondering.
I got this one, Fly. Do you ask what type of paint brush Picasso used? Do you ask Congressman Massa what type of hand lotion he uses before “groping” young congressional aids? No. You do not. Pffffff.
He is “Broker A”
I manage money professionally you bastard!
AMTD, ETFC!!!??!! Really?
WTF
I use WTF too, great platform
Great pupils, Moobs.
Here lately I have managed to lose money professionally or, unprofessionally. Anyways… It seems everytime I turn around to reach into the cooler for some potato salad, Precious runs out the door with my chicken.
I just did 6 quick lines of SCOK and im buying stocks fist over hand. The RUT looks particularly delightful here.
Buying opportunity of the century right now on the RUT…
Agreud. Sitting right on support. Very low risk.
I suspect Fly trades through the Dark Pools.
And if the internet is down he sends his assistant trader on the train to Wall Street to hand deliver his trades.
Question for Fly (out of curiosity).
Speaking of the “Internet Bubble” have you used up all of your $3000 Capital gains carry forward losses yet?
Here’s a headline you might use: “Traders destroy cradle of western civilization.”
http://upload.wikimedia.org/wikipedia/commons/thumb/4/43/AthensAcropolisDawnAdj06028.jpg/700px-AthensAcropolisDawnAdj06028.jpg
Greece is just mad because nobody wanted to buy their old dilapidated slum buildings.
Bought a boat load of ZSL as the Metal Mkts crumbled. Long from avg price 4.24. Silver and Gold have no fundamental reason being at these levels.
The market is broken.
This market makes me want to move to Wyoming and tend to goats
Not many goats in Wyoming.
They do have the world famous jackalopes though.
Been there many times (Laramie and Casper).
Ask the Wyoming Bear in the Sky. My Brother in Law who lives there told me they didn’t enforce the speed limits. He lied.
We are still playing around an inflection or tipping point for the economy – will it be inflation or deflation? I keep leaning towards inflation but money supply is flat and home prices may need to fall more and labor is abundant. It should be more clear before the year is over.