I have had more time to observe and participate in the market this week and as a result I have taken more positions and been more active socially. It has been good fun. Thank you all for your interaction. It is making me better, faster, and stronger as a trader.
Elroi, my newly retooled algorithm is doing what robots often do when you first turn them on, failing misrebly. It just so happens I activated the robot into a tape he struggles in. He does not like choppy markets, and this can be seen in the 2 day drawdown that occurred. Behold:
This is when most people switch their algorithm off because it is broken. However, this drawdown is still very normal when compared to past statistics. I will keep him running live. He is only being fed one contract at a time anyhow. Once I see him performing well for a month or so, I will get him up to size.
Very early on, I was surprised to see Facebook in the red. My homework steered me to the name last night, and I wanted it very early. As I mentioned earlier, I bought Jan and Feb calls.
The rest of the day I was selling. I sold down my exposure to CREE and LITB and closed CLNT entirely. After these moves my cash is nearly 30 percent.
Remember when I regretted closing C ahead of earnings? I told you I was a genius!
I am up almost 8 percent YTD with 30 percent cash and plenty of risk in place. Yes, I am all grins. Let’s see who we can fleece tomorrow. Be well.
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Wedge it is for Facebook. Just means that the profit is on layaway and we’ll pick her up next week.
I saw you were very active today. Be careful swinging that sword all over the place sir.