Monday, March 05, 2007
Closing Comments
Lucky for you, I got back early from my business meeting. Hence, I will post closing comments.
First, let me say, those of you who took me up on my kidney for liver bet, I intend on collecting early next week. Don't worry, I have taken the liberty to find your location and will dispatch a team of surgeons to "collect" my winnings.
Before I left, I put buy orders in, via Trader slave, for SSG and DXD, both were filled. While there is a chance for a "turn around Tuesday," I still need more downside protection. Despite my increasing short positions, I lost .35% today.
Now, I know most of you out there are still holding on to longs-- and doing nothing to protect the downside. You figure: "well, it's already down so much, it's too late." Wrong.
That's like saying, after having a major artery cut, "No. Dr., don't give me stitches, I have already bled too much." Next thing you know is nothing-- because you're dead.
With the market closing at the lows of the session, I expect it to open weak tomorrow, then bounce. When we do bounce, I will add to my SSG, DXD, MZZ, ATHR and AMKR short plays.
Also, a great way to play the mortgage broker disaster is via SRS.
Finally, this website is intended to entertain myself, while throwing lunch meat at my trader/servant. However, I hate seeing so many of you getting punched in the cock. After all, once you lose all of your money and default on your "sub-prime" loan, I doubt you will come visit my blog--wasting all sorts of valuable time on the internets. That, sir, would be unacceptable.
First, let me say, those of you who took me up on my kidney for liver bet, I intend on collecting early next week. Don't worry, I have taken the liberty to find your location and will dispatch a team of surgeons to "collect" my winnings.
Before I left, I put buy orders in, via Trader slave, for SSG and DXD, both were filled. While there is a chance for a "turn around Tuesday," I still need more downside protection. Despite my increasing short positions, I lost .35% today.
Now, I know most of you out there are still holding on to longs-- and doing nothing to protect the downside. You figure: "well, it's already down so much, it's too late." Wrong.
That's like saying, after having a major artery cut, "No. Dr., don't give me stitches, I have already bled too much." Next thing you know is nothing-- because you're dead.
With the market closing at the lows of the session, I expect it to open weak tomorrow, then bounce. When we do bounce, I will add to my SSG, DXD, MZZ, ATHR and AMKR short plays.
Also, a great way to play the mortgage broker disaster is via SRS.
Finally, this website is intended to entertain myself, while throwing lunch meat at my trader/servant. However, I hate seeing so many of you getting punched in the cock. After all, once you lose all of your money and default on your "sub-prime" loan, I doubt you will come visit my blog--wasting all sorts of valuable time on the internets. That, sir, would be unacceptable.
Comments:
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Broker thanks for the CC today. One question for you is do you have a downside target on ATHR or are you just going to wait until it starts to show strength in the broader market? Looks like all of the dippers are trying to lift the market in AH today as everything I look at is up a percent or two.
# posted by 
: 6:34 PM
: 6:34 PM 
SRS up 7% ...damn, that is a meltdown. Up $17 in 12 days.
As for the S&P: Puts in SPY or short SDS? I think my IRA is attached to the S&P so it's probably getting beat down.
Speaking of SPY, does it bother you that this selloff has much higher volume than May? Kindah bothers me.
As for the S&P: Puts in SPY or short SDS? I think my IRA is attached to the S&P so it's probably getting beat down.
Speaking of SPY, does it bother you that this selloff has much higher volume than May? Kindah bothers me.
Gio, doesn't bother me about the volume. If you are already hedged, then the worst thing that happens is your account stagnates. If you're short right now, just stay short, and if the volume is indicative of something more troublesome in the future, you'll keep making money. If you are neither short, hedged, or in cash, I'd definitely be worried about the volume.
I hear you about the IRA. I have "professionals" manage mine. LOL...basically I tell them to index it. But that is so long term for me, I don't even worry about it. We know it will come back A LONG time before I need it.
I hear you about the IRA. I have "professionals" manage mine. LOL...basically I tell them to index it. But that is so long term for me, I don't even worry about it. We know it will come back A LONG time before I need it.
CNBC said that was easy, we went down and now we are on our way back up today to a new high. I see this futures rally faded by 10:30.
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# posted by : 9:07 AM
: 9:07 AM << Home
