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2024
March 20th, 2014 at 5:41 am
Banks/Deano – Whole XLF popped, maybe some leak on the stress tests?
SLW/STP, Rookie – What we have left is the Jan $20/25 bull call spread but that was initiated on 2/12. You are referring to a position from the old STP, which was totally cashed out last year. If you were sitting on naked $19 calls, that's a very nice gain but shame on you for not stopping out on the drop from $27 back to $25 AFTER I have made roughly 100 calls this month to get back to CASH!!!
Austerity/Lunar – It's like that discussion last week we had on facts vs. opinions. Like Trickle Down Economics, Austerity has been proven not to work over and over and over again – it's a political tool, not an economic solution – yet it benefits the rich and powerful at the expense of the poor so it continues to be used to bludgeon unsuspecting populations. It's war – just an economic one, where the oppressed are unarmed and unable to fight back and the goal of the rich is to keep it that way.
Gates/StJ – OK, I will say that, if I were a Gates kid, I would be pissed if I didn't get at least $1Bn!
Sushi/Wombat – Goal-oriented trading is the best kind. If I'm thinking going out for sushi and it's going to be $200 for the family, I like to try to make $200 to pay for it and, if I happen to make more – we go to Nobu and, if I happen to lose $200 instead, then I scrap the plan for sushi and we're even! My friend and I spend two weeks in Tahoe like that, gambling for every meal and every show, room upgrades, etc. – we went home with more money than we came with and the secret it taking a small win and walking away, rather than doing what most people do – which is play until they lose.
Like this morning, the RUT made a quick $200 so I'm happy. The second it turned back up I got out and now we're at 1,190 again so maybe another chance to play (if we get the signals from other indexes). If you can't be happy making $200 – you shouldn't play in the first place.
Nice call on Asia, Den.
Big Chart – Man, this thing will NOT let us draw new lines. Another down day makes a bad trend (head and shoulders) but who knows with expirations tomorrow?
Keirkegaard/Wombat – I love Copenhagen!
I have a theory that good beer breeds good philosophers…