I almost got sucked in by the bottom feeders, but then I read my blog posts and remembered that TLT ruled the roost, not some jackass interested in catching a rip.
My sole strategy revolves around getting out of IMMR. That’s right, I want to sell it, but at a profit.
Currently, I am down 12% on the position, with a basis around $14.5. I intend to increase the size of the position by 30%, reducing cost to mid $13’s, which will then be liquidated in a timely fashion upon a rally.
In order for this to work, I need to buy blood, not momentum. I need the fat margin clerks to blow out of your positions, zeroing out accounts, sending the stock spiraling lower, in order to accomplish this delicate task.
If I fail to do this, worst case scenario, 25% of my assets slowly drips lower into the Asian calamity to come.
Also, remember that the pornographers in Brazil are protesting with fire bombs, demanding that socialism be reinstated. There are significant headwinds and the SPY is only down 2.5% in June. If the market was down 6% or more, I’d strongly consider buying aggressively. However, we’ve been up for 8 months in a row. This is garden variety so far.
We need more blood before true blood can be discovered.
TLT breaks $109.75 and I will start to buy.
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If you’re looking for true blood, look no further than the not so precious miners, Senator Cement Head style.
Yeah, I know, you’d rather place your hand on a hot-plate.
That’s a death spiral.
Why is this time different for the miners? Gold at cost of production currently doesn’t have much long term downside…
I recently read that gold mining costs are 1200-1400 & silver 22-24
We are going fishing. Enough with this.
every day someone huge dumps their /DX
Just peeked at TLT inbetween phone calls to students about having to attend summer school. It’s below $109.
Darn, I have 16 of 21 ESL students failing Living Environment regents, and they want to know why our scores are so bad. We are testing kids who can’t speak English with an exam written in English. There’s no way they can pass on the first try.
or lower the standards for passing…lol
They can take the exam extended time for as long as they want. We have teachers proctoring until 11 at night if the student is willing to stay that long and some do. Today at our last staff meeting the principal told us the day of the Global History regents, there was a kid from the Congo still taking at the test at 10 p.m. The principal was tired and hungry and he could see the kid had been stuck on the same page for a while. So, he told the student, ok, you’ve had enough time, you have to finish the exam, which had started at 12:30 earlier that day. After the principal finished his story, he asked the student’s ESL teacher, “How did that kid do on the exam.”
“Sixty-four,” she said.
Of course, our principal felt terrible after hearing that. One point, if only…
Nobody gives a rat’s ass about your ESL class. Just thought you might want to know that.
Guess what, I read through a lot of garbage that you and others spew every day. I don’t care what you think, little Johnny.
Duly noted. Just wanted to make sure you were apprised.
Agree but, if a kid can’t speak, read and or, write English well enough to take a test and pass then change the deal. If the kid can’t meet the standards to take a test properly, excuse him from the process and give him an automatic ‘PASS WITHOUT MERIT’ and get him out of your system.
If I haven’t read your post,I would have followed the Devil and bought IMMR
$ANGI got it going
if this is the beginning of a real correction, do you have any idea what is going to happen to a stock like ANGI. I’ll give you three hints. Down. Down a lot. Down more than your stomach or your p&l can handle. These rips were meant for selling – not touting dumb dumb.
FLY: I dig the honesty.
What rip, Curley? Naz is down, SPY barely up.
Just observing strength, Stooge. $ANGI unchanged in yesterday’s bloodbath.
Go back to your Momma’s basement.
LOL you bought ANGI. Noob. Good luck with your paper trading.
It’s Nymph’s World Now (no Clams allowed)..right now gossip is that Bond markets are so ugly… traders have liquidity problems. Bill Gross must be hurting life at this minute.
news flash….Lenny Dykstra just released from prison..hide your wallets
Quick, buy a bunch of Deep in the money calls and front run his return!
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looks like ribeyes tonight, boys…
wow, i am out of TXTR at 24.09. nice run.
I thought IMMR was long term believer story? Has that changed, or just see a cheaper price to come due to market swoon?