“The Fly” told you to sell it all, back in early, mid and late December. He (“The Fly”) proclaimed being on the “verge of making (his) best call ever,” via inverse ETF’s. He gave you an inside look of how his time machine worked, which enables him to make all sorts of coin, in various countries, in every single market environment.
Some of you even mocked me when I warned you to “get ready to die.” Hey, but this blog isn’t about pounding my own chest, while hitting you with a shovel. As you know, it’s about helping poor gaytraders make a nickle or two on intra-day swings.
After all, like I said before, having a real time machine is a curse, not a decadency.
Just know, “The Fly” would never laugh at your folly.
Finally, the game plan for tomorrow is simple: don’t get tempted to throw on some longside trades.
If your favorite stock opens down 10%, just know, it can fall another 10% by the close. When markets plunge, there is no bottom. And, with the elimination of the uptick rule, expect short sellers, like me, to start shooting fish in the barrel—taking advantage of downside moves.
NOTE: Here’s a bonus post from August.
You Can’t Make This Shit Up UPDATE: Tim Knight aka “Dope on a Slope,” self proclaimed perma-bear, got caught long nasdaq CALLS, with hardly any downside protection. This is too much. I can’t laugh any harder. No need to be sympathetic; he deserves it—as you know.
Fun Update: India opened for trading, then closed within 10 minutes—due to being limit down 10%. When they reopen, look for the Sensex to be down 15%. That’s 22% in two short sessions. So much for the emerging markets “decoupling” from the U.S.