“Obama open to idea of extension of Bush tax cuts for all income levels”
That is the news that would force me to cover short, or in this case sell my VXX, so I did. I locked in a 50% loss, in what can only be described as one of my worst trades ever. I’ve had plenty of bad trades, but not of this size and magnitude. Luckily, I was fortunate enough to execute this trade while up big. And, furthermore, I was able to stem the bleeding via long positions. It’s a chapter that I am glad and relieved to close.
With some of the proceeds, I played more lotto, buying 40,000 EJ.
Back to your regularly scheduled Chinese LOTTO market.
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You will make it back AND MORE I TELL YOU! 😉
And Mooooooaaaaahhhh!!
______
Hey and I was first too!! FIG whatever the F that means
First Is Gay
41st!
I wish Obama would hold his ground and not budge a single inch. Why is he getting all wobbly on us now? Doesn’t he have any sympathy for market bears? C’mon, we’re dying here.
lol
milkman,
Heh, staying wrong about the market and self-flagellation go hand in hand.
I’m just messing around. Long Silver and TLT as of now. Cash on the sidelines. (busy doing other stuff)
No Chinese Rotto? Shame on thee.
The market is all jacked up on a Monster/ 5-hour Energy cocktail.
and Four Lokos
Your honesty is incredibly respectable and the way you handle a loss is amazing. You’re the man
I am past the point of lamenting over it. Believe me, it’s been an albatross around my neck for awhile. Even if we went straight down after today, I will not regret selling it.
I cannot justify holding a market bearish instrument while Obama is suggesting he will extend Bush tax cuts.
You’re now free to bank more coin without that hideous VXX bitch hitting on you. That’s got to be a good feeling. Celebrate. Eat a ribeye for lunch. Go for an extended walk. Watch ‘Free Willy’ with the kids tonight.
Life is good, and getting better (until we all have to pay for the QE2 party).
I think you should grant yourself (you are the blog father) permission to curse now too, since this chapter is officially over and QE2 may never again let us see DOW 10,000!
No, he needs to wait until we get to Dow 14,000, then he’ll explode in a curse-laden rampage that would make Andrew Dice Clay blush – it will be very cleansing.
Agreed, indeud!
CNBC just gave the SHOMP signal.
I told you this was coming. It’s all straight out of Bernanke’s handbook.
A broad-based tax cut along with a program of open-market purchases alleviates any tendency for interest rates to increase, which is certainly an effective stimulant to consumption and hence to prices. Even if households decided not to increase consumption but instead re-balanced their portfolios by using their extra cash to acquire real and financial assets, the resulting increase in asset values would lower the cost of capital and improve the balance sheet positions of potential borrowers.
Of course, in lieu of tax cuts or increases in transfers the government could increase spending on current goods and services or even acquire existing real or financial assets. If the Treasury issued debt to purchase private assets and the Fed then purchased an equal amount of Treasury debt with newly created money, the whole operation would be the economic equivalent of direct open-market operations in private assets.
3.29 indeud
Can we get a 3.50 bid? How about 4?
someone buy NFLX so we get it there
I put in my 3.40 prediction before the market opened on the SPY User Notes. I thought I was being facetious. But now I can’t remember.
I really hope the PPT prediction of a sell off comes immediately, I’m hurting bad. This week is ridiculous. I can’t bring myself to cover my short.
That’s some kind of milkshake your sipping on.
I thought it was someone’s chocolate milkshake but clearly I was tricked with a cup’o shit.
“”Nov 4 (Reuters) – Unbridled printing of dollars is the biggest risk to the global economy, an adviser to the Chinese central bank said in comments published on Thursday, a day after the Federal Reserve unveiled a new round of monetary easing.””
That is a big warning shot right there.
They are certainly free to decouple the yuan and implode their employment picture.
That ought to work out well. No problems with hungry Chinese a good boot on the neck can’t overcome.
_______
Followed you out, like some sort of blind servant. Fuck VXX, but now is not the time to hedge your accounts by hiding it beneath shovel fulls of gun powder.
Sold out of VXX two weeks ago, could not stand the daily pain.
and now we can proceed down
Wow this market is getting tulip’d by the Bearded One.
ha…. great one….
I told all of you that was going to happen. (tax extensions)
You choose not to listen.
Good day to you all
regards
chuck
Good call.
(A box of Omaha Steaks, complete with steak knives, may be appearing at your door in the not too distant future.)
Be well.
shut up and quit sounding like a parrot
Robert,
Just because you allow yourself the freedom to suck your own cock, doesn’t mean you are at liberty to ask me to quiet my parrotings.
Again, OINK
The majority of my accounts, save for my precious metals positions, have sat festering in cash for the past 6 weeks. This is almost as bad as being an all out bear. Ripping tits out there.
Do not fear The Beard.
The Beard is your friend.
I have decreed lower taxes, a peso-like dollar and free fried chicken for all my subjects. Enjoy your day in the sun.
this market is now officially in la la land, and the games being played will end at the bottom of an elevator shaft.
I sold the CSTR. It’s not the next NFLX, down on a day like this?
Flyster, Man enough to admit his mistakes. Mistakes are made to learn. No harm done.
Sold your VXX??? Does this mean you don’t believe in the PPT readings?
I’m also curious to know Fly’s interpretation about today’s PPT readings
even the ppt knows this rally is a fake.
i wonder the same thing. if job report is bad would there be at least some correction?
“Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul. “
quote of the year!
after such a run up im not touching a thing until it washes out.
It would not surprise me if we see a 500-point day in the Dow, just in time for Thanksgiving.
I think Bernanke is addicted to crack and QE2 is really his cry for help.
Up or down?
UP.
Make it 1,000 points , just for s&g’s.
Fly…You threw in the towel on VXX? Interesting………..my only tiny, tiny, tiny ray of hope is that China on Nov 11 will be having an Auction for Zinc….hard hard time for a bear.
When you cover I’ll go short ….
Many are saying that.
What in the fuck does a Chinese zinc auction have to do with anything? Good grief do you actually read the shit you post before hitting the ‘Submit Comment’ button?
Here is the best reason to never use VXX as a volatility vehicle.
http://www.tradedojo.net/?p=1481
Just sayin’ – high risk vehicle – regardless of correctness in thesis. Over even medium term – even if you are right you will probably loose money.
Good trading all,
xybo…