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Tuesday, March 12, 2013

Hallelujah!!! I'm BACK

WE SOLD OFF!!!! Ah! I knew it had to come, and it feels great.


We opened relatively flat, and then once again moved up and made new highs on the SPY. We then sold off (what! red?) nicely to a low of what I projected, -8 points on the SPX. The SPY then rallied to cut its losses in half. The DIA closed green which is amazing, that is 8 (!) straight green closes for the Dow Jones. The EUR/USD was flat most of the day. TLT finished up a very significant 0.7%. The IYT and XLF finished lower by 0.3% and 0.5% respectively.


Today was awesome. I almost completely recovered my stupid positions that I will readily admit were unintelligent:

Closed Trades:

SPY puts 153 (Friday expiry) closed at a loss of 50% (medium position)
SPY puts 155 (Friday expiry) closed at gain of 50% (large position)

Open Positions:

LNG (short), SPXU, TVIX. BX (short), and VXX.

I made up for the vast majority of my losses, and am again near my account highs for the year. Yes, I was gambling and Yes, I was stupid, but I knew the odds were in my favor, and I followed a gameplan... we just can't keep melting up. Well, I guess we can, but not without at least showing a little bit of intraday weakness.


The DIA closed positive for the 8th straight day, which is ridiculously incredible. This has happened 5 times in the last 12 years, in every situation, the DOW was red the following day. Under this premise, and seeing the strength in bonds (via TLT), I held my SPXU. I am expecting some weakness tomorrow, but not a large amount. I will be trading lightly for the remainder of the week to honor the stock gods for showing me mercy today... but for real, I just want to get my head on straight for next week. I had an incredible start to this year, and I want to make sure I am ready for the upcoming sell off. This sell off has occurred every April for 3 years now. Will this year be different? I think not.

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