I have a stock down 28% today: MLNX (“it’s a great little company” -fucking asshole). I do not own a large stake in said company, but own it nonetheless. I had a shit load of TZA for my personal accounts and loads of VXX to hedge off my longs in others. I got caught in a spastic short squeeze, all due to a brief piss in the wind decline, led by the beard of Ben Bernanke. Please let that information sink in for a moment, before you continue reading.
Sure, my personal accounts can withstand a one off event and the MLNX/VXX rolling disaster will not do long term damage to my accounts, as they are minority positions. The MLNX was a 2% position and VXX is 20%: the rest is all long a bunch of bullshit going higher this morning. But this is bad, as I have effectively emptied out a fucking clip of 100% stupid on my own face! Can you appreciate that?
Going into the close of trading yesterday, I was scared to buy stocks, like a small girl caught up in between a grenade fight. I should have thrown on a dress and ran out into the streets crying, instead of disgracing myself with cautionary tales. So here I am today, with the market up 190, punching holes in the fucking sheet rock. What should I do now? Can I do something, anything to escape the stupid box I find myself defecating in?
First thing I did was sell TZA. I don’t need to look at that shit. Second order of business: I bought a man-sized position in TSO, adding to yesterday’s starter. As for VXX: there is nothing worth doing right now, but sit and watch that fucker shoot grape at me. I have no choice but to buy more lower.
And to think, I could have avoided this whole ordeal, if I had just followed the laws of The PPT. Instead, I find myself shoveling shit out of my space rocket.
SIDE, motherfucking, NOTE: I sold out of 10,000 STI personal yesterday too. That’s just a side, motherfucking, note.
UPDATE: I sold out of FLS and bought some BAC.
UPDATE: I bought EMN.
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