Ahem……..
It was a good day. A very good day. My portfolio is worth much more than when the day begin. It’s certainly the best day of 2024, which is a pretty low bar. So – – yay, me.
BUT………and, as with Oprah, this is a BIG but…………..
I completely blew it on SMH. Sweet baby Jesus, did I blow it. I came into the day with a big position on March SMH puts. I had the balls to acquire them in advance of both SMCI and AMD earnings, and my puts were nicely profitable. Lovely, lovely. Everything going well.
Then, dipshit Powell starting yammering and, although I still have no clue why, he said some magical words which made stocks EXPLODE higher. I saw my portfolio collapsing, and I panicked. I dumped my entire SMH position at a loss. And when did I do this? Literally within 30 seconds of the exact top of the day. So, as Abraham Lincoln famously said during stump speeches: fuck me running.
I’ve said it before, and I’ll say it again. I’m the king of kings when it comes to charting. But, for the love of God, don’t let me near a brokerage screen. I suck!
