I am out on two of the three positions, took a $9,800 loss. It is only 20% of last year's profits. Ahh well it happens
It is ok sir. It frees up my overnight capital to try new things, while continuing my old track of long-term long holding. By getting out now on those two nasty oopses, I have preserved capital to try to make it back in other ways. In the meanwhile I have a June YM long that is down 900 points or so. I may need to do some fancy footwork here, but I am confident I can recover these losses by end of second quarter. Just need to be one with Pai Mei.
I'm gonna write a song... I'll use Carly Simon's "Anticipation". ♫Capit-u-lay-ay-shun.... its causing some pain.... deceiving the reign... ah ah ooof the bull now....."♫
I am working hard to juggle, myself, Ovs. I always tell people that I "hate [market] history." (As in "Market made history today!") And boy-n-howdy, I have hated December, and hated January, and now..........
Why don't you admit it! You hate the Eagles man! (I need to go look at the game, seemed bad for the Pats at halftime.)
I am an options swing trader. I do not have $9,800 in the game at the moment but I am there. I went in a bit early on Friday but whatever. Still saying my stock, I actually do not do indexes now, will be up by 10:30 AM. If Asia was a precursor we would all be rich. Again - The big money wants stocks to be up. They make money on the total - % of total. Stocks are not a zero sum game. So if stocks go up everyone wins. Only neg was oil stocks did not do so well and interest rates went up a small fractions. Not the end of the world. If North Korea had launched a nuclear missile then I would be Big Time worried. My only concern is margin calls. But then you have lots of companies with cash wanting to buy back shares. When would I do that? Now.
Margin calls - I am talking about stocks in general. If others get margin calls and then liquidate to cover margin call then that stock goes down. If you have an option on that stock it goes down.