sold the 250 uvxy i bought on 8/11 for $50. $17/share gain, 50%. almost another $4250 in locked in gains.
all i have left now are 250 i bought on 10/3.
those last 250 are in case the truly unimaginable happens, and stocks drop more than a whole 10%.
its been 2 weeks. still waiting for the selling to be over. where is walker? is he too busy playing with his choo-choo train? the one that "ran me over".
the problem for the bulls: there arent many shorts to enjoy. most shorted at inopportune moments thru the years and gave up. others that are really smart, like me, waited this out and shorted at the perfect time.
i dont need a crash to make a ton of cash. im already up huge with gains locked in and a lot more in paper gains. anymore downside here, and my profits will only accelerate higher.
and, all the stupid btfd'ers that keep trying to hold this up, are constantly getting run over. just ask bango and walker. when they finally stop btfd, there will be zero buyers and a theater full of sellers.
"the fed doesnt stop printing in 17 days. It stops direct treasury purchases."
rofl. the fed has a bunch of monkeys trapped. they're done printing until sentiment gets horrible and there is some motivation for it. wall st sells high and buys low. the fed will start printing when wall st is ready to start buying again. maybe at 1600. maybe at 1400. maybe at 1100??????
and, not only is the fed done printing, its balance sheet will begin shrinking as its holdings mature and new debt will be sold to someone other than the fed to pay the fed back.
in other words, there will be a BIG liquidity drain starting by mid November.
" Interested in your opinion why oil is going that much lower."
technically speaking, it is broken. especially on the monthly chart. just like gold broke down at 1640 (as i was the only 1 to see that). same thing happened to oil this month.
geopolitically speaking, it crushes Russia. great incentive for the fed to stop printing money. at least for a while. oil dropped everytime the Fed stopped printing since 2009. no reason it goes higher after the fed stops printing in 17 days.
#1 - CNBC hasnt rolled out its "markets in turmoil" special it does right before a bottom
#2 - buzz called the bottom yesterday. 5 minutes before the bottom fell out
#3 - "they've" trapped too many of you losers to let you out. ie: dez, walker, bango
#4 - very little technical support here. a close this week under 1890 spells HUGE trouble.
#5 (and most important reason) - i say so. and when was the last time i was wrong
uneconomical? ok. doesnt mean the drilling stops. oil heading much lower still. its cheaper to drill for a small loss than to shut down the rigs. drillers wont stop production until oil drops below $60. just a fact.
liars like aapljack are looking to get you in bad trades.
any day now. the selling will end. and capt walker will proclaim victory. unless, of course, the unthinkable happens and the "markets" have the audacity to drop a full 10%. i hope not. that could signal the end of the humanity!!!
where is walker? thats right, he was trapped and slaughtered. bull meat is quite delicious!!!
just post the dates and i will do the work of pulling up your posted trades. it'll take you 1 minute to open your brokerage account and get the listing of your positions and acquisition date.
just sold the last of the original uvxy i bought under $25. $12/share gain.
still holding 500. avg price of those near $29.
than all of larry's massive "real" losses. afterall, his account is real even though he cant provide the dates or the prices of his real trades......
crazy intraday swings today. bulls trying desperately to hold the line.
my goodness, could you imagine the horror if stocks dropped more than 5% (under 1900)? pure anarchy could ensue. bankruns on every corner. rioting in urban neighborhoods. earthquakes in NYC. etc, etc, etc....
it was nice of AIG to bring suit against the US for its bailout. we finally got proof i have been right the entire time. Ben Bernanke, aka, Edward Quince (QE) let the system blow up so he could print money and prove his life's work/theory correct. ie - there wouldnt have been a great depression if the fed would have just printed money.
cant help but think this drop is to get the fat cow to cancel the cancelling of printing money.
however, i seriously doubt 4% down (less than any normal market correction in history) is enough to get her to waver. it would take a bulldozer for that. literally and figuratively.
true. but only .79% of those savings are "FDIC insured", as the FDIC fund is less than $50B. $8 trillion in savings, backed by a whopping $47B:
"The unaudited DIF balance — the net worth of the fund — rose to $47.2 billion as of December 31 from $40.8 billion as of September 30. Assessment income and a reduction in estimated losses from failed institution assets were the primary contributors to growth in the fund balance. Estimated insured deposits increased 0.7 percent, and the DIF reserve ratio — the fund's balance as a percentage of estimated insured deposits — rose to 0.79 percent as of December 31 from 0.68 percent as of September 30. A year ago, the DIF reserve ratio was 0.44 percent. By law, the DIF must achieve a minimum reserve ratio of 1.35 percent by 2020."
guts, i just put in uvxy sell orders for $40, $50 and $60 until EOD. 250 shares at each price.
its a long shot, as bango is as unpredictable as what time the sun rises or sets, but im thinking he may post the "c" word today and brag about his r2k to 950 call......
"That's just a bit more cynical than even I can conjure."
The fed could have saved LEH. the fed could have started printing money at spx 1200, 1100, 1000.....etc....
why did they wait all the way down to spx 700? at that point, everyone had given up. the peasants were dumping and smart money were the purchasers below 800.