Rudely, I am typing this blog from my iPhone, in the middle of a boring meeting. I do not care about the sensibilities of these creatures; therefore, I am blogging.
I see many stocks are selling off, following a robust open. For me, selling at these levels is not an option, despite the possibility of a near term sell off. Frankly, anything less than 12,750 is pure fantasm and should be treated as such.
I want more cake, Barbara, and I want it now.
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market is going to correct this week sir
The market is always correct.
if you are shorting the market here, you are betting on a further TLT rally.
But, likelihood of a 4% bond dive is much higher than a 5% bond rally from here. Especially with so much debt ceiling uncertainty.
Look at how much money is hiding from risk ( TLT XLV XLP MUB )
When that money gets tired of sitting in low yield coward trades, its going to have start chasing things like DBA and MOO (especially with latest Chinese drought news)
If you are going to short the market, at least hedge by shorting some bonds , via TBT long.
I am not going to short the market, but i am hedging tightly. I have been in TLT for about 3 weeks, and i am using puts on most of my equity positions. Money worth spending IMO.
How you hedging?
TLT, protective puts on equity positions. I have a smidge of TZA at the moment as well, but that could change at any moment.
What sorta cake is it, Fly? I hope it’s not that soft spongy crap with the fake cream and disgusting strawberry jam they always offer at those venues.
The option to sell is always on the table. I sold out on HDY for a small gain. It could sky rocket in the coming weeks, who knows. I trade what I see, not what I want to see.
I am seeing too much stock distribution for my taste. I will likely unload half of my current line, if not more, in ZLC. I am more interest in getting small then I am loading up more at this current juncture.
Wrong again
If I am wrong, then I will correct myself and put out my line again. Whether you realize it or not, your ego is the largest liability to your bank roll.
I realize most of your readers are content with treating the markets like a toy and paying the vig to get some action, but for those who are serious about speculation the below link is a great read for any speculator:
http://www.scribd.com/doc/16215173/Dickson-G-WattsSpeculation-as-a-Fine-Art-and-Thoughts-on-LifeEn
“Make your theories fit your facts, not your facts
your theories.”
I almost forgot another gem from the book:
“Stubborn men don’t live long — financially.”
Some interesting articles.
Do you have other sites where you hang out at, where I can find you and your interesting articles, in case Fly bans you for giving him advice? He seems to hate people to give him advice. I, OTOH, don’t mind it at all. But then I have more to learn than he does.
LOL – John the 23rd giving the “Space Alien Magician” TM trading advice. And psychology of trading advice at that. Holey shiite!
Advice is cheap. Opinions are cheap. Being wrong is costly.
I am merely stating truths I have gained over the years from other solid traders because some actually seem interested in taking speculation as a serious endeavor.
I came across this site because the characters here are entertaining. Take my “advice” as you desire. I really don’t care. The fact that you put the fly on a pedestal and dismiss excellent trading principles outright speaks more your trading abilities than of me.
I’ve been wrong so many times in the market its mind boggling (although I keep track of every trade I make).
Here’s a fun statistic for the YTD: I’ve been wrong 51% in market and I am up a sizable amount YTD.
Utter non sense. I love when people like you pop up, espousing the secrets to successful investing.
Successful investing comes in many forms, not just yours.
Of course successful trading comes in many forms. I don’t come here to incite philosophical debates. I actually came here for the banter and to put a flame to my feet to keep my mind engaged.
I put out my 2 cents and its there for those who want to consider them. My principles, like your PPT, are merely tools to guide me in my speculations.
2 cents like this:
“Whether you realize it or not, your ego is the largest liability to your bank roll.”
Check his bank roll … then shut up!
I’ve been in the trading game for over 15 years. I’ve had my fair share of experiences.
The market teaches everyone humility sooner or later. Tempt the markets long enough and you will get knocked on your ass. Any seasoned trader knows that.
I’m not here to defend myself against “traders” like you. To Frog and those who are actually serious in speculation, good luck.
@Frog: Check out http://www.tischendorf.com/. I don’t know the trader personally. But his principles are spot on to sound speculation.
Do you have other sites where you hang out at, where I can find you and your interesting articles
http://beforeitsnews.com/story/675/584/All_US_Gold_Gone_Russia_says_IMF_Chief_Jailed_for_Discovery..html
Rubbish.
I can believe that the amount of gold in Ft Knox is much less than the US says.
I don’t believe for a minute that Kahn could get that info.
Without a physical audit, no one really knows what’s in there.
Holy crap.
Or just “crap.” What next, Bat Boy stories?
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Nice mars… that was entertaining.
Indeud.
My little US Dollar survived the end of the month payment by the UK to the ECB which is bullish for Euro and monthly rebalance of passive funds (btw I wonder if it is only me that thinks last night everyone jumped the trade on long euro?). But Little Dollar you have to hold this support or the nasty bulls are going to beat you down….I know you can do it…..NFP on Friday should be good cuz they are still hiring at McDonalds which will take juice away from the clam again…run little dollar.
Youse guys worry about Fort Knox and corrections. I’ll keep bankin’ coin.
Fuck me the PPT hybrid…. Can’t say where it is because it’s not my business but those who do have it know what i mean.
I am assuming the “top endowment managers” now being interviewed on CNBC have a huge WNR.
it’s phantasm you yankee fuck
oh – I know – it’s a play on the word fantasy – still doesn’t change that your an american scum bag
FULL BAN
you seem excessively angry
Someone must be down for the year. LOL.
“Your” an American scum bag?
Can you mumble “Hoist on your own petard,” through your toothless Limey gob?
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fly s corrrect ! 12,700 ish before the fall to 10,000 !!