Category Archives: Anecdotes

Godspeed, Doctor Dyer

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In the midst of all of today’s trading tumult, I happened to see the death notice of Doctor Wayne Dyer. This wasn’t shocking news – – he was 75 years old, and he had health issues on and off over the years – – but I was still saddened to see the news and wanted to do a post about the man.

For those of you unacquainted with Dr. Dyer, he was one of the leading authors of self-help books. I doubt Dr. Dyer would want himself described that way, but that’s how I remember him, and that’s certainly how he initially became famous.

When I was a youngster – about twelve years old – I became afflicted with a mild and lingering depression (that’s not what we called it; I simply recognize it for what it is in hindsight). The book that I found most comforting during that troubled time (which persists, ummm, to this day) wasn’t the Bible, although that helped, but was instead Dyer’s first book, Your Erroneous Zones (as a little kid, I didn’t get the pun, but that’s beside the point).

I read the book over and over again. It addressed the subjects of worry, interpersonal relations, and other items from the long list of neurotic possibilities. In my teenage years, I carefully read Dyer’s new books, such as Pulling Your Own Strings and The Sky’s the Limit. I also listened (repeatedly) to the cassette tapes on which he read his books. I imagine I was one of the few teenagers in the country who was pretty much addicted to the wisdom of Wayne Dyer. As you can see from Amazon, Dr. Dyer went on to write dozens and dozens of books.

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Jackson Hole in One

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Greetings from my mother in law’s ancient Macintosh, where I try to expunge my blogger’s guilt by doing a quick comment cleaner. I see the ES and NQ plummeting lower, proving once again that all my worries about the central banking morons at Jackson Hole was, as usual, pointless, feeble, and pretty much ghey. Shame on me. It was a horror in 2010, and I will remain deeply scarred until my dying day. Death to Bernanke! Slowly!

But my 81 shorts will, barring some bizarre reversal, be shining in the morning, and unlike last Sunday, I don’t have a single stinking long in my entire portfolio. I’m delighted that Jackson Hole is behind us, and as far as I am concerned, it’s going to be clear sailing until the anti-Christ (Janet Yellen, in case you haven’t figured that out already) does her stupid announcement on Thursday, September 17th. I will shoot all bulls on sight until that day.

The Horrible Hole

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I’ve had my fair share of horrible memories in life (hey, that’s a cheerful way to kick off a post, isn’t it?) but one that stands out as one of the worst was September 1, 2010. I’ve mentioned this date before, because it was a searing, horrible experience for me.

At the time, I was very, very aggressively short the market, and I (very naively) thought that, with interest rates at 0, there was nothing left for the Fed to do. Ummm – – wrong! As we all know, the Fed really has no limits as to what it can conjure up, and Bernanke unveiled a massive quantitative easing program. Trillions of dollars later, we all can plainly see that it didn’t work (although the man still gets paid a quarter million bucks to make a single boring speech), but at the time, it was just the tonic the stock market needed. (more…)

The Raging Fire Within

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I’ve been trading the stock market for nearly thirty years, virtually non-stop. Today (that is, Monday, August 24) easily ranks in the top five strangest, craziest days in the thousands upon thousands of trading days I’ve ever witnessed. I felt like I was entering a cage of gorillas that had just ingested a large quantity of PCP. It felt dangerous and really, really unpredictable.

As I mentioned on my lengthy Saturday post:

I expect (and, again, hope – – because, God forgive me, I’m actually long five ETFs in size right now) we get a meaningful relief rally, carrying us up to the psychologically-important 17,000 level. At that point, please don’t be anywhere between me and my keyboard, because I am going to be shorting anything with a ticker symbol in size.

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Option Avoidance=Good For Me

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There are a couple of classes of trading vehicle I swore off years ago: options and FOREX. From time to time, I’m tempted to give options another whirl, but I hold myself back. This happened earlier this summer, so I did a little experiment: I put a marker on a chart of an option I would have bought indicating my “pretend” trade.

Well, after a few days, the option shot higher, pushing up over 50%. I begin to reconsider my self-imposed ban on options trading. But you can see what’s happened since then (and remember, this is a fairly conservative option, not expiring until the end of the year!)

I know options work great for a few of you out there, and that’s just dandy. For me, this little exercise just reassured me that I made the right choice swearing off the things.

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