Since DO is HALTED FOR FUCKING TRADE, I am unable to sell it. This is like one of those fairy tales when the greedy bear stuck his paw in the honey pot one too many times and it got cut off for him. While the loss in DO is very manageable, for it was a standard 5% position, it’s disheartening to have it happen and equally disheartening to have it fucking halted all day without given the chance to trade out of it.
That being said, I imagine it will open DOWN 60% — which is a 300bps hit for me.
Meanwhile I liquidated everything else but one stock in my portfolio — now 90% cash.
After everything is said and done, given today’s market gains, I stand to lose less than 2% today. See pal, I am even winning while losing. I’ll make that 2% up real quick and much much more and then DRIVE this gravity hammer into the heads of ALL oil longs in America. I hate you and your wanton greed is infectious and you should be stopped.
I am through with overnight oil holds, since they’re all subject to a surprise chapter 11. Plus anyway, the market is long in the tooth now and destined for the junkyard.If you enjoy the content at iBankCoin, please follow us on Twitter