I ended up breaking even for the year after being up 25%. Shut my account down for good though I still follow the markets. I admit it was a terrible decision to get whipsawed but when stock prices aren't determined by fundamentals, it can get tricky. I believe the next crash will be a real doozy.
Well, I'm not shorting UVXY now, that's for sure. How could you make 100%, you think it's going to 0 in the next 2 weeks? lol. Nothing to be said about this, like you said a lot of people are in worse shape, I know a guy who has lost over 50% of his money this year because he made a few heavy bets and they all blew up. Someone always has it better, someone always has it worse.
My big problem is I worried too much about valuations too. Seems like everyone thinks this is a bubble and p/e ratios are too high, and markets do not crash when everyone thinks they will crash. Wall of worry, all that stuff. Oh well, previous several years were great, 2014 was just a dog, eventually we will pay for these markets with years of losses I feel.
Correct. One of the worst things I did in my whole life.
Yes indeed. I am not a bear, just someone who goes in too heavy too early and finally paid the price. There is no excuse, literally none for breaking even in a year like this. Time to hang 'em up.
Yep. I agree with that, nowhere else to make money. But the reality is the market beat me. I mean this volatility should be great for "traders." RSX up 30% in a few days, oil stocks up 30-50%, UVXY down 30%. Simple reality is my timing was so off that it ruined me. Good news I just sold RSX in pre-market so for 2014, I exactly broke even. After being up 25% at one point. A break-even year during an incredible market rally, when I probably should have made 30, 50, or 100% on the year is enough for me to hang 'em up.
Went in very heavy short on UVXY at 20, couldn't take it anymore and covered at 30. Went from +25% on the year to exactly dead flat break even for the year. Just needed to hold a few more days and would have been back to +25%.
I bet I am one of the few people in the entire world who didn't make money this year. If you can't make money in this kind of roaring market, it's time to step aside. Best of luck to all.
Amazing. Well, now I am break even for the year. So I lost 20%. If I had held on to more of my position in UVXY short I would be up 30% for the year. The math is cruel on that, need a miracle. I think I might be done with stocks forever, or at least until the next crash. If the market runs up without me, so be it.
Congratulations. Can you share some specific trades with us now that it's over. That way maybe I can eat into my 20% loss from the past two weeks.
Lot of uncertainty, people buying protection. Don't be surprised if the market and VIX are both down tomorrow once the uncertainty is resolved.
Looks like that was the bottom for RSX, oil, everything. Everywhere I look on yahoo message boards are people who said they waited until today to buy and are already up 10, 20, 50% on everything. I wish I had their crystal ball, that's for sure. Wow! Hate this "game" more than I can say.
Of course there were many times I thought it was the bottom. 26, 24, 22, 20, 18, 16, 14. Maybe the 12 was it. Have you looked at RSXJ, holy crud.
I agree. Of course I wish I captured the incredible bounce today but I already own enough that I am having trouble sleeping at night. So it's a no go.