Dow futures are now off by more than 350 points and Chinese stocks are getting hammered to the tune of 1.1%. Over in commodity land, oil is plunging — lower by 2.3%. Rest assured, today was a day that will live in infamy — the day the party ended and Apple confirmed our gravest fears.
What is that, you ponder?
How about ZERO growth at Apple?
Stocks like NVDA, trading at 9.9x sales versus their historical median of 3 will warn too and get decapitated by 75%.
So what are we to do?
Frankly, run.
You cannot win, so you will need to liquidate early and hope some assholes with small brains buy the early morning dip, for once that occurs the real drop will happen.
Analyzing today’s moves, I stand to shed a good deal of money tomorrow. I’ll need to sell TNA, BRZU, SLCA, HUBS, CLF, CC, OSTK, and RNG — most likely for a collective loss of 5%. That represents 40% of my trading account. I have another 40% in TLT, DRV, NUGT, AG, and EGO — which I’m hoping will offset some of the losses in the aforementioned stocks. I see gold is up 0.3% in the overnight session and the 10yr is lower by 3bps to 2.63% — which mean TLT will be nicely higher.
With the Yen spiking higher and markets collapsing, I might make an additional 8% in DRV — which is a 10% position.
My pivot will be most important. Will I short into the hole and get raped on a reversal? Or will my shorts catch a wave lower, one that cracks and breaks, and ruins 2019 from the beginning?
Stay tuned for tomorrow’s episode in Fly fucking with his trading account in the bear market of 2019.
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Ya’ll really thought that crude move was gonna stick huh
God knows what you’re talking about 10% of the time.
You know god damn well cruded oil and junked bonds are conducting this pain train
I was only looking for a god damned day, 1 day of upside.
You came so close. That’s tradin’
golden opportunity.
This is the problem with bear markets. They run up and down like a window shade.
Much money will be made in a relatively short time, but it always ends for me feeling like I should have done better. Not this time. There is no way to get all of it.
Without doing any research, Apple just found the price point that causes sales to fall.
Not to worry.
Just keep buying IWM and IJR etfs (small cap) as January effect is taking hold.
And for a kicker buy OIH etf (oil services etf- tax loss selling is over and is at multi year lows). Just play this for a nice bounce.
A Dead Santa bounce?
Great puppet show with “crude narrative” run by masters of universe.
Buying AMD and NVDA puts for post earnings downward guidance revisions. Supply glut is going to destroy them in 2019.
Cheer up, Fly. You know what the market has to do–wring the last drops of hope from the human heart, then it goes up from there.
Have an avocado snack with Seymour,
https://youtu.be/VmAl5WDMsz4
FLY, a question for you and followers.
WTF gives with GLD??? in years past, these bad events would have move gold 20 – 30 $$$ and now it moves like a f—–g turtle. And now, bitcoin is just a memory and it was said it ate into gold’s lunch.
so here I am holding my dick with GDX and yes, not going down but the ride up is like watching paint dry.
any explanation out there guys and gals??
GDX be climbing the proverbial Trump’s Mexican beautiful steel slatted wall of worry
“steel slatted wall ”
Soon it will be a
“magnificent wall made of the strongest chicken wire the world has ever seen, rising 5, maybe even 10 feet above the heads of the even the shortest of men.”
“Just don’t call it a fence, and we have a deal.”