I just took my time machine back to 1929 and made this fucker give me a market update on youtube.
[youtube:http://www.youtube.com/watch?v=MEc7sE7psJA&feature=related 616 500]UPDATE: The Godly folks at iBankCoin are auctioning off a classic, and epic, piece of VIX art, from The Fly’s early 2010 collection.
Dated March 19th, 2010, titled “Beware of The Devil’s Pizza Head”
starting bid: $1,099,000.01
If you enjoy the content at iBankCoin, please follow us on Twitter
Its funny how things in the market never change!
Moob
What sort of percentage gain?
Why do your iphone comments sift to the top?
something is fucked up. I will have it fixed
Not that much as a %, about 7%. I need to go back and look deeper because I think something’s changed.
The stocks I traded were GE, QLD, FAS, UPL, ATPG
I’ll do a write up in the PG.
Also, in the PPT I said I put 1M to work. In hindsight it was 600k. A bunch of stuff didn’t fill. Counted chickens that didn’t hatch. I was a little excited in the moment. Sort of embarrassed by it.
Is that Don Cherry?
Perfect. Thanks for that.
I didn’t know robots where even invented yet back then. Who knew?
http://www.economist.com/blogs/charlemagne/2010/05/euro_crisis_0
Fly:
I think someone is offering you the sincerest form of flattery. A comment left on Macro Man’s Friday blog is almost identical to the portfolio postions you posted in “Got A Lotta More For You” … ck this out
1) Fully invested. This is horrendous no matter how cheap equities now look, i.e. they can always get cheaper which you learned in 2008. If you are still in this scenario, I would sell 25-50% of my longs and put 10% of those proceeds in a vol overlay or short exposure in financials, small caps, or EM.
2) More than 50% cash, 20% short, 30% equities is a good spot and cover shorts when your weightings are getting out of whack. The weightings of your shorts will become oversized when they go your way, so take profits in increments.
3) Net short by more than 15% is a very dangerous position to play against govenement’s no matter how long it takes to respond to noted issues. Remember what happened to that position in 2009.
Holy smacks, …..
please provide link. I will have a cease and desist letter sent his way.
I think the reference is in the comments section, not the content of the blog. Blog looks pretty thoughtful with original content.
http://macro-man.blogspot.com/
Sorry I wasn’t clear. A visitor to Macro Mans blog left the “borrowed content” as a posting in the comment section. Macro Man did not borrow content.
https://www.blogger.com/comment.g?blogID=34323687&postID=383538879029626613
Delivered by a certain pelican?
Hawking’s time machine instructions:
http://www.dailymail.co.uk/home/moslive/article-1269288/STEPHEN-HAWKING-How-build-time-machine.html
Is that guy from 1929 still alive today? No.
Why?
Because he paid the ultimate price for his forecasting mistake…
He paid for it with his life.
Most amusing, my good sir!!
http://en.wikipedia.org/wiki/Irving_Fisher
Fisher’s father was a teacher and Congregational minister, who raised his son to believe he must be a useful member of society. The young Irving had mathematical ability and a flair for invention. A week after he was admitted to Yale University, his father died at age 53. Irving carried on, however, supporting his mother, brother, and himself, mainly by tutoring. He graduated from Yale with a B.A degree in 1888, where he was a member of Skull & Bones. [Just like Bush 43]
He wasn’t a good father, either:
“Fisher was also a strong believer in the now-ridiculed “focal sepsis” theory of physician Henry Cotton, who believed that mental illness was attributable to infectious material residing in the roots of the teeth, recesses in the bowels, and other places in the human body, and that surgical removal of this infectious material would cure the patient’s mental disorder. Fisher believed in these theories so thoroughly that when his daughter Margaret Fisher was diagnosed with schizophrenia, Fisher had numerous sections of her bowel and colon removed at Dr. Cotton’s hospital, eventually resulting in his daughter’s death.[4]
I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it.
http://www.prisonplanet.com/amazing-audio-from-the-sp-500-pits-as-the-market-goes-into-complete-collapse.html
I love it near the end when he says “We need to do this every day, dude.”
No fucking way I could live through that again too many times.
Check out this one, a great video of the crash in action. Love the “There is no Dana only Zuul” voice
http://www.youtube.com/watch?v=ppEJ8r7bQ2o&
LOL. If cigarettes could talk, that’s how they’d sound.
CANCEL ALL ORDERS!!! CANCEL ALL ORDERS!!! CANCEL ALL ORDERS!!!
Trading rules, if only for moments like this.
Did your trades get counted during Thursdays abrupt down and up move?
I heard somewhere that trades during a certain time period would not be counted.
Just curous if you got to keep your big win.
I have not been notified of any broken trades, nor has my account changed without notice.
Most of you idiots have no idea how the deck of cards is stacked against you. If you had any idea how to track a trade you would try to buy to place a limit order on a low volume stock and trace what happens to the bid/ask spread. But no… You buy into thesis for this purchase and thesis for that purchase. It is all bullshit.
I’d love to hear your thoughts, dave. Always looking to learn something
Moobs …. you’re quite the socialite tonight. Weird seeing Bob’s Big Boy gravatar rather than LT dominating the comments section …. must be that winning attitude, keep it going.
Sort of getting my head of a crazy week or two. Nice to see and be seen.
low volume trades are so rigged! sub-penny front-running is rampant, it took me 2 hours to unload something as the computers kept stepping in front of me by 0.0001. what bullshit.
Never fear, ruprecht is here.
http://www.youtube.com/watch?v=nqMc9B7uDV8
Today, I found Jefferson Krull’s site for the first time…..it’s sort of like looking at a car accident……he’s either a genius. like Picasso painting, where he can do great trading but does reverse for total amusement to himself….Or he could be serious…..which one is it???
Both!
Someone should tel Prof. Fischer to fix his tie.
Fly – Nice work this week.
@Moobs – Good job.
can someone help me here.
I bought the VIX may 25 calls last week for around $4. With VIX at 40 for much of the last day, these should be worth $15 ea. But they were trading bid/ask around 8-9 bucks. I’m being cheated out of half my profit! is this rigged against me? wtf? even when I’m right I still can’t win.
I am sad to hear about Chart Addict, he was a great contributor and he will be missed.
It is not rigged against you.
As I understand it, until expiration day the options are priced against VIX futures prices. I think this is probably because those who make a market in VIX options need something to hedge with. There is no underlying stock (or cash price) to enforce the option price.
You did win nicely, but the market is not going to give you the settlement price (or more) at all times.
Thanks MX. I think I will try the VXX next time. I know it has rollover decay like the USO, but for a couple days swing trade it should probably be easier to get in and out of near spot prices. and shorting it when things calm down looks like a good bet.
In general, VIX options don’t trade like stock options at all, because the VIX can always go back to 20 by the May expiry. That fact is reflected in the pricing. A couple days before expiry – which is not the same day as equity option expiry, btw – the options will be much closer to the actual VIX number.
Also, if you have extra big balls, hang on to those options. It is not difficult to imagine the VIX hitting 50 (or higher) in short order. Possibly it will remain elevated beyond the expiry.