I was up almost 3% this morning. Now I am closing in on the flat-line. If history is of any use, we are about to reverse lower and the market is going to decapitate me.
I’ve been tempted to buy JIVE, BPI and SUPN all day. Instead, I’ve watched them outperform, as my portfolio of toppiness, well, topped out. I’ve also been tempted to buy VXX; but that’s just revenge trading on my behalf, as I am still pissed off for losing money on it for 3 years in a row.
Perhaps The Devil is right and we’re topping out. He’s short the indices and GS, paired with some of the most illiquid/annoying longs known to mankind. I just can’t get myself to buy CLIR upwards of $5.
Today’s tape really pissed me off. If I started off the day down, I could easily accept it. But to be up 3% then get swallowed whole by a shark, like a small piece of shrimp, has me punching holes through the sheetrock today.
My one silver lining is MU. I’ll sell the balance of my holdings north of $14.
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