Forgot. Other losses are Greece and shippers. The latter are amazing. Year after year. Why they don't just declare bankruptcy is beyond me. Maybe they make their money by taking prices up and then selling short. However, with the rise in commodities, some will probably make it. Which does not excuse the losses. And the lessons? There are none in markets. Else we would all be rich.
Oops. Stop losses. The dumbest thing ever. To think, that one can say, well, I made a mistake. Who the hell knows anything? So how is it possible to reach conclusions? The arrogance is breathtaking. Now, I am not saying that stop losses do not have their use. Check my DRYS posts. I saw the 'SUPPORT' at 1.30. That is where traders bought and ofcourse the market makers shorted. So then at 1.13 I took a chance. As the stops were all hit by the falling knife.
A few days ago the Dow was down 2 percent from its all time high. And me too. Which is amazing considering I was caught by a black swan event. The collapse of energy. I recovered because I am a humble long term small time bag holder. Which permits averaging down. For a very long time everything I touched collapsed. Like pbr vale sgtzy ewz rsx sid mt cx sim ... the list is endless. But they came back. Then, I started having my picks go up right away. Eca hal dvn swn chk hl cde gg .... So. Here we are. Coal was a total loss. Almost. Again. Small time bag holding trying to catch falling knives. There is nothing else. Realizing that I am a worm who knows nothing. Now I am into failing retail and British banks. Sold half my gold yesterday and day before because the smart money is buying. I hoped to hold for the long term but they spoiled it for me.
I am short FB too. How can you be in markets. and not be? As for Brexit, I am buying British banks. Because there has been an investor exodus from the market there. Sadly, I have sold half my gold and gold stocks yesterday because the 'smart' money is buying. I was hoping when I bought a few months ago to hold for years.
Kara Swisher. A tech expert from Silicone Valley on CNBC. Problem is, whatever she says has nothing to do with investing. Well, let me revise that. If she and everybody says A then A is wrong. Amazon great retail not as nobody bothers to shop in stores. So AMZN is a short and retail issues like JCP Sears etc are long. They have another guy, Mossberg. Again, whatever he says means nothing.
When I shorted everybody loved the stock. It dropped and there seemed to be no floor. But now, sadly, too many people are pessimistic, and so I had to cover.
As I said yesterday, we needed a big plunge below 'support' of 130 so that the traders buying will have the stops triggered. This is important. So I bought now. Most likely it's going to 0. No problem.
Pennystock is right. Nobody says you have to be short. But owning this is stupid. See FB board where I talk up jcp shld odp spls HSBC lyg rbs bcs.
If there is a pullback get odp spls shld jcp. Feel free right now to buy British banks rbs HSBC bcs lyg since billions have been pulled out of the market by investors.