You thought the market would close higher, didn’t you? You were over there, sipping on that sugary orange soda, like a fucking loser, rooting the market higher—while watching that bastard of a clip— showing Meredith Whitney all scared and shit of shorting banks.
Let it be known, “The Fly” no longer supports the work of Meredith Whitney. He will now work to support Michael Mayo and all of his endeavors.
The trading action in SRS is abusive to the sensibilities of all investors, long and short. It’s impossible to bank coin, while the market zig-zags around like a lunatic top.
Into the bell, I sold out of my AAPL position, which has been in my portfolio for years, cost basis of about $50. I am sure the stock can run higher. But, every time I feel like it’s ready to rip off the balls of a few million bears, it succumbs to fuckery and trades lower. So, I am out.
In my trading accounts, I remain long TLT, TQNT, ISIL, CIEN, EZCH, STAR, GU, DE, TLAB, SRS, SSG and FAZ.
My only short is ACC.
Bottom line: you’re fucked if you do, fucked if you don’t.
Enjoy.
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