Early this morning, sure of a market rally, I stepped in and bought SHLD, HEAT, with grandiose visions of striking it rich off Chinese Lotto. Then, as the day went on and the indices declined, I bought more VXX, as I was sure the market was bound to fall into a cup of hot soup, then consumed whole by fucktarded asshats. Now, as I type this pointless blog, the market is up 70, effectively urinating on the heads of all intra-day party goers.
I should have taken the day off to fish or catch some clams with my harpoon.
“The Fly” is not keen on making mistakes, which is why I am shutting down the trading turret for the day. There are too many stupid cross currents in the market now and it is fucking up my mojo.
As presently constituted, I have about 65% equities, 16% VXX/TZA and 19% cash. I sold off all of my remaining corporate bonds, that were purchased back in the fucked up days of 2008. And, I have decided to bet on tragedy and mayhem, going into the summer months. Mind you, this sort of market position takes a great deal of certitude to execute and can be very frustrating. The reason why bearshitters get flushed out so regularly is due to bad timing—not inaccurate positioning.
I will have you know, I position my portfolios to win, not to fulfill my deep-seated desires to be right all the time. Remember, you have to be in the game to win it. More often than not, you fuckers get flushed out betting one way, due to your impatience and nonsensical perception of time versus your schedule.
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Clearly, you are giving away too much valuable tactics, strategy AND MORE…
Never mind…
Indeud…AND MORE!
well said !! .. wait, what did you say?
Bought some more UWM.
I saw the Fly somewhere in this intra-day moshpit:
http://www.youtube.com/watch?v=HQUvJ-wKJok&feature=related
The Fuckery were in there!!
R.I.P….
I just wrote this really long post….but deleted it. Learning to hedge is one lesson that is hard for me to learn..I do have about 30% but gold being part of it maybe not the hedge long that FLY is talking about. It would be nice if it was on my time schedule….I guess I just have to sit and wait for the bus.
Also, Fly didn’t you notice I had System of a Down song Chop Suey for this weeks theme music for my Nymph Take of the Week in the King of Peanut Gallery..looks like .there was a reason.
Just look at your stocks/assets that you are long and find something that is negatively correlated to it over an appropriate timespan. Inverse ETFs are quick, easy, and general. Using specific shorts or indirect hedges can create better results, but hold additional risk depending on the product. Hedging is about portfolio preservation during uncertainty.
Gold is not a hedge against the draining of the pool.
Real Hmmmm, You are totally correct on the Inverse, but for me, I am using iras to avoid having to do taxes as I learn this game, so I can do puts or inverse etf’s but not shorts in it. Learning to understand the market is a greater goal of mine then the loss I suffer on not going straight short. Learning process…Gold is to hedge against my VXX, SMN, FXP…..which isn’t working so good today..ouch,lol.
Gold is not a real hedge for VXX or FXP…. in fact gold might be positively correlated to that stuff, depending on what’s going on.
And we’re red, this thing looks like it’s going to drop – so much for melt up monday on mutual fund inflows.
exiting all nasdaq swing short from last week ( TYP from 7.85 avg at 7.92 )
Looks like SPY could close green. This drop is a bit too steep
Long a 1/8th position in BGU (sandp500 triple long) at 49.49
even the god can be brought down. !!
The Fly is WRONG AGAIN!!?
i am right. my last move was vxx. so shut up
Do I need to say it?
No, don’t bother. They wouldn’t understood [sic] it anyway.
YEEEEEEEEEEHAWWWWWWWWWWWWWWWWW!!!!
This is a helluva rollercoaster ride. I think I saw someone’s fat furry paw.
By tragedy and mayhem, are you referring to an active hurricane season?
I went short on Friday with VXX and SPY put options, I sweated the open but feel great now.
50% cash, 15% short, 15% TLT, 20% long dividends and miners. I really wish I added and went heavier when we neared 10,600. It’s tough to stick with your conviction when the numbers flash losses.
There is nothing quite so invigorating as doing nothing on a day like today.
Indeud.
“Currently we’re expecting five Minor waves to complete Intermediate wave A, possibly around 1136. Then an Intermediate wave B pullback. This is to be followed by another five Minor waves to complete Intermediate wave C, possibly around 1146. This is just a potential pattern for Major wave B.”
Exiting BGU long from 49.49 at 49.68. Will possibly look to scalp long at open tomorrow, if we get a gap down
Internals and volume bearish since open.It will make a further steep drop difficult- because Not enough new traders trapped long, yet
This dollar rally is a definite wake up call for little Timmy Geithner
http://www.youtube.com/watch?v=5Qazaaq0msA