Listen Up Friends and Losersby Danny on September 4th, 2008 at 2:44:43 pm |
Sometimes it’s hard for me to assess the interest level on my blog.
I’ve noticed that when I talk about Fibonacci Lil’ Wayne Sequences, the interest seems high. Other times, when I post “fancy” charts[like the iBC Reports], the interest level seems low. I italicize seems, because again, I don’t know the interest level, I’m just inferring from the comments.
You’ll notice that both of those links are from the past couple days. It seems like people should have paid more attention to one, and less attention to the other, but again, I’m just a simple guy who likes to bank profuse coin more than discuss the effect of rap on my un-born children.
I know the people who regularly read my page, and I thank you guys for coming over and commenting. Other iBC writers, you aren’t praised often enough, at least from me for the hard and helpful work you do. I don’t need to name names, but the regulars know who they are and how important they are to me and the site.
And again, I don’t mind the interest level. It doesn’t detract from my interest level too much, if at all. I mean, sure, I’d rather have more readers more interested rather than less readers less interested, but what more can I do besides put myself out there and the people decide if they care?
If you’re losing your ass today, you should care. If you were buying the rally[s] last week, listening to Cramer, you should care. If you covered your Legg Mason, Inc. [[LM]] short at 46 because it broke resistance, or are now adding to SKF today, you should care.
I am here to help.
This isn’t a rant. This is a victory speech. Today was predictable. I’ll say it again.
Today was predictable.
You don’t accidentally stay short into a huge drop. You don’t accidentally put up custom made charts like these, on accident. You don’t give short recs like GrafTech International Ltd. [[GTI]] , that plummet 25% starting the next day on accident. I make as many mistakes as anyone, maybe more, but I nailed the everloving shit out of today, and I nailed almost all my trades in the last month despite it being “the toughest ever.”
I had a rough January. It took me to the woodshed. I had a rough July — not that I was long, just not short enough. I got burned when commodities rolled over in mid-July. I have had many a come-up and many a come-down, but I always try my hardest to make it out ahead. Shed, your strategies, Gio, your TIM putting Tim to shame, Adam’s tomes on Lenny, Fly’s kickassery, AD’s Patton-like guidance, Ragin’s ragery — you guys all push me ahead.
Mostly, I am really happy about today (up 5%, w/ 50% cash], my performance this last month, and I’d be super extra ultra happy if some of those goofy charts that I spend so much tme desgning helped anyone avoid losing money on days like today.
I am getting out of some or all of my shorts today.
We are not out of the woodwork yet, but am not counting on more easy money in the next day after today.
September 4th, 2008 at 2:56:52 pmGood job danny. you’ve been definitely the blogger on iBC to watch these past few weeks! while you’re in victory mode, I’m in “why didn’t I listen to myself” mode. Vix under 20 = get short and stay short. Ha! I covered my shorts. USO under 100 meant short oil. Ha! I went searching for a bottom in oil stocks (while removing my hedges)… rough start.
Don’t worry about if people read you or not. just keep up the good trading. I don’t really care too much if anyone reads me or not, since blogging for me is just thinking out loud. So, I blog for myself I guess.
September 4th, 2008 at 3:10:13 pmI noticed if you title your posts as questions you’ll get a lot more hits. sex sells too… why don’t you post pictures of hot girls like Tradinggoddess or Adam’s news girl.
September 4th, 2008 at 3:15:01 pmCongrats on your victory today. I’m happy for you.
Regarding interest levels, I can only speak for myself. I am very interested.
But, I am a retard who absorbs little and understands less, or so it would appear. Mock me, for today I have lost 2% total portfolio as of 3:30 pm, although I’m making a minor comeback into the close.
I was the recipient of my own ass today. It was covered in tire tracks, as if I had been run over by the short bus.
That is all. Good evening to all.
September 4th, 2008 at 3:28:27 pmI didn’t know you had a blog here! ;>) btw, more discussion and photos of mile high club might increase reader participation altho I read your stuff all the time and appreciate your efforts a lot..thanks
September 4th, 2008 at 3:36:11 pmOh shit. I think I just capitulated all over myself.
Anyone got a Kleenex I could have????
September 4th, 2008 at 3:39:33 pmHaha, thanks dudes.
Gio - The VIX above 21day 2:2 MA triggered yesterday too.
I’m glad you guys are interested.
hot girls and question titles, those are good ideas.
sniper, you’ll be back
September 4th, 2008 at 3:45:15 pmDanny, Your picks have been extremely good. Made 60% in intraday profits on ANF puts today.
September 4th, 2008 at 3:50:41 pmthat is fucking beautiful. ANF was on of the few trades I didn’t cover today
September 4th, 2008 at 4:00:28 pmI still own a few october puts in ANF. Anticipating a breakdown to about 42 once it moves below 49.
September 4th, 2008 at 4:04:02 pmHey Danny,
Yea with this market we could be up 300 tomorrow and it wouldn’t surprise me at all.
I’m holding my ARTC puts and shorted some HD at the open today. Still got lots of cash for quick day trade scalps. Should have listened about holding LM.
Keep the charts coming!
September 4th, 2008 at 4:08:24 pmDanny:
Just put titles like “McCain caught getting a blowjob in the urinal” or “Obama found smoking cocaine in Beverly Hills” and you will get 500 comments.
Great work.
September 4th, 2008 at 4:41:31 pmI always read your shit, whelp. But I usually pay attention to you iBC machine talk, and I coulda sworn you said it was still bullish?
Nevertheless, I’m short all the time, so this was a pretty good day for me. I even covered some stuff, but not all.
No, no, that is not all.
_
September 4th, 2008 at 7:05:09 pmI have to agree with Jake …. Odd, no?
Kind of a mixed message here:
http://www.ibankcoin.com/dannyblog/index.php/2008/09/03/ultimate-ibc-machine-update-vix-lobv-and-more/
From the point where you say that you “sold 2/3 of my SDS” … you covered your shorts or some of them while telling us the machine was still bullish. You go on to say that after 3 days down we’re due for an up day and you’ll be covering more shorts on a bounce the next day and happy to reload at 1290. Your next post indicates an uneasy feeling expecting an up market but keeping a few of the shorts you’re comfortable with maybe as a just in case …. and today you claim victory (???) … guess it’s my reading comprehension but I too come away confused as to your position. Maybe in a quest to be correct you cover too many bases and leave the reader confused … I come, I read but wish you were more concise or declarative on your buy, holds and sells.
Are you holding LM and SKF here (or have you already sold/covered those) or telling readers to expect a rally now and to take profits now and prepare to reload?
September 5th, 2008 at 12:09:52 amE8 — I play odds as I see them. I covered when I saw the odds has lessened for more egregious losses, very short term.
I bought sds at 63.86, 64.70, then at 63.25. I had 600 shares, and I sold 2/3 at 66.10, because as I said in the article you linked
“Conclusion: IF, and this is a big if, there is still a bullish frame to the market, then we should go higher tomorrow.”
I was going under the assumption that, hey, maybe we’re still bullish, and my indicators should go higher, so I covered most yesterday. I can’t toptick and bottom tick, but I will get something out of it.
So today was a change of trend, to the downside.
Going into today I had shorted 100 LM at 40.50 and 300 at 46.x, 100 anf at 55.4, skf at 110, and this morning I did a short market (yup!) at the open for dks, which I cashed out at the close.
So, yes, I did cover 400 sds the other day at 66.10. I sold the rest at 69.15, today.
I also covered LM and half my anf. For the record I shorted ANF at 50, and at 55.45, so I was about flat on that.
I was buying SKF in the 120 and high teens as well.
I am currently short 100 anf, half a position at 52.5, and holding third of my skf with a cb of 118, a wash.
I don’t expect much of a rally, but what I do know is that from my perspective today has less chance than other days.
I still hold 40 clhb, stopped out of the other 40 the other day at 80.05, and 200 dgly at 8.
I got nothing else.
September 5th, 2008 at 1:51:57 amjake, the ibc machine was positive, but only tentatively so. I deferred to my other indicators when going short into today.
September 5th, 2008 at 1:56:49 am