The art of proper money management is not hard to understand, but woefully difficult to practice. Let me school some of you what I am doing now, AND MORE.
I booked a dastardly loss on MLNX, selling 90% of my position. I said I was going to sell on a bounce. Well, here we are 10% off the lows: I sold. Additionally, I sold out of my largest long position: EWZ. And, I sold out 90% of my TSO position. I am not quite done selling; but you get the gist. As you know, I already have a large VXX position. So, it is not required of my person to add to shorts, as the elimination of my longs coincide with the increased exposure to my VXX.
A great man once said “When in doubt, rub some VXX on your chest.”
At any rate, now you know why I was frantically buying stocks, late last week, despite The PPT nearing OVERBOUGHT. I needed to offset the fucking VXX in my portfolios. I suspected we’d get another push higher. I wanted to participate on the long side, good Sirs.
In closing, I am back in control of my spaceship and circling the areas for nice spots of make crop circles.
Developing…
Fly, does it make sense to track VXX’s beta for portfolio optimization purposes, or it’s a useless BS?
You smell of Domino’s Pizza
Le Gavroche, actually
Nibbling on the VIX today ahead of Consumer Confidence, Claims and Mich Sentiment at weeks end. Love this website…..Thx Fly.
the efficient markets folks…
V.K. rubs VXX on his balls before squatting
Just the “taint” …
Use the Karl Denninger trading style.
1– Short at open, every day. Even if the market is down 500 points.
2– Claim Bernanke ran your stops. Try to argue this point with your margin clerk.
3– Rinse and repeat for 11 months.
i see said the blind man. thanks for sharing your fancy footwork.
hey fly,
i’ve been in bac from the 13.60’s. Are you selling into strength? i put in a sell limit order @ 15.07 just in case they decide to fill that gap.
*confused*
…a wise man once said TLT is the tell !
—
…if I might paraphrase – Today … TLT is the “Tail” !
Just sayin’ !
.
OOOOOOOOOO!!!!! im beginning to see the light …imgoing to be a very dangerous person …i sized VXX with FAS and will you looking at that its a perfect flip-flop for me…sizing it up now
thanks for drilling that into my verifiable 60 IQ brain..10000 appreciations
arch says:
July 26, 2010 at 2:36 pm
OOOOOOOOOO!!!!! im beginning to see the light …imgoing to be a very dangerous person …i sized VXX with FAS and looking at that,, its a perfect flip-flop for me…sizing it up now
thanks for drilling that into my verifiable 60 IQ brain..10000 appreciations
there i put my teeth back in so you can understand me.
HAHAHHAHA GOT EM
FUCKERS
I may escape the day unscathed yet!
you didnt get me
fly,
if you would be so kind as to extend me some help please..would it be wise to try to catch vxx at the point where fas & vxx is of the same value ??would this be fly like skills ? or should i wait till mid morning tomorrow ?
i allready sold my FAS @ 22.90
i guess what im asking is does vxx trade like faz and get hammered in the morning
Hey amateur,
What makes you think that VXX and FAS are at the same value?
lol
There is a gold fang, hanging from my neck.