Sure it’s funny to point out to short sellers how every day starting just after lunch, the market reverses all its losses. But if we’re going to be frank, the shorts have been winning this argument for a few weeks now.
Do I really care that out of five days of horrible blood, the market can walk it back on four of them? No, I sure don’t care. Because that still leaves that fifth day, and me increasingly underwater.
CCJ, and the uranium enthusiasm that started out so hot this year, has died back down.
And then there’s the elephant in the room. How much margin interest was outstanding going into this?
We’ve seen some just horrendous losses out there – and not in backwater parts of the market either. The losses were contained in leadership stocks. You’re telling me that margin interest hasn’t been impaired?
I’m worried and have been for a while. My strong showing so far in 2014 has given me the breathing room to neglect those emotions, but watching CCJ back at $21, I’m reminded how quickly it can all turn around on me.If you enjoy the content at iBankCoin, please follow us on Twitter