Select Gains, Edit->Undo

My book was absolutely pummeled today, and I have done nothing to curb the bleeding.  As we ring the bell on a bloody Monday session I am down a jaw dropping 5 percent, effectively returning me to 2013.  I suppose I should be grateful for my superfluous year-starting earnings, for they have kept me from going red on the year.

Leading the push lower is CREE.  My position was demolished by an analyst who got “worried” about where CREE was trading.  This coward and his worrying have cost me a year’s worth of counseling.

We are holding my bottom most line of support for the intermediate term balance case.  However I am not a buyer today.  This is a long liquidation trend day meaning I should be able to purchase at the same or lower prices tomorrow morning.  Therefore I wait.

Before I knew it was a long liquidation trend day I bought February calls in LULU.  My weekend research had me wanting to buy the stock and I work to it down 15 percent and I simply could not resist the new bargain.

Everything else is in place, should we see aggressive selling again tomorrow, well into the afternoon, I may capitulate.  Otherwise, I am carefully hunting additional long exposure into this weakness.

I am off to lift heavy iron like a rhinoceros.