iBankCoin
Joined Jan 27, 2008
7,404 Blog Posts

Ugly Day

I took some losses today as the market decapitated momo traders, but when you have a few shorts on the grill everything seems to even out.

Right now I’m up huge in my [[MA]] puts, followed by [[DE]] puts, followed by [[BIDU]] puts, not to mention my [[CHL]] puts. It amazing and rather fun watching the stocks fall lower and lower. Make sure to keep an eye on [[V]], it may be next.

Today’s lesson: If you feel the urge to get long this market, make sure you have a few short positions on the grill to watch your back. Who knows what this market will bring.

Damn, it was an ugly day!

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Cute

Earlier today I tried to get cute by buying a falling momo name, [[SQM]]. Not very long at all, I was quickly awarded the homo hammer of death– needless to say, I was stopped out for a nice loss.

I then again tried to get cute with [[AAPL]], however this is one I will hold. You see, I still have a number of shorts on the table, many of which are doing great today, and have found in this type of market it’s best to have your shorts paired with a few longs. So AAPL will stay on my long side, while the likes of [[MA]] save my portfolio from destruction.

Top Pick: Anything short, paired with a strong long.

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