This whole “market closes at 4″ thing isn’t my bag. My crazy get-up-at-5 a.m. and wrap the day by 1 p.m. is what I’m used to, but oh well, it’s just one more day. Plus, now that I’m traveling, the market has permission to fall, as the /YM undid all of yesterday’s silly mega-rally.
I gotta tell ya, it’s hard enough to be a bear and be getting my ass kicked during this multi-thousand point rally, but what makes it even worse for me personally is when paying subscribers THROW IN THE TOWEL, like the chap below. The vast majority of my supporting customers, God bless ’em all, stick with me through thick and thin, but it just adds salt to the wound when I get one of these. Grrrrrrrr.
The flip side, of course, is when the market is falling to pieces, and subscribers are piling in just when I’m the least interested in the revenue! When it rains, it pours, right?
It’s also amusing to see my late father’s portfolio. The guy was in his 90s, and the old fella picked such loopy stuff as AMD and GLW. I guess this apple fell REALLY far from the tree!
What’s weird (and irksome) lately is that I’ll get STOPPED OUT of a position at the opening bell, and then the damned thing just falls all day long. ALB, below, is just one such example (in this instance, although it pisses me off, I got back into the position at a worse price and caught most of the fade).
My two anchor positions right now are DIA (September puts) and my Bitcoin short. I’m pleased to see BTC taking it on the chin a bit today, and God knows I’d love to see it crack that trendline and start to get some downside momentum.
Tomorrow morning’s big event is the jobs report. Hey, market gods, how about throwing Tim a whole TWO down days in a row, huh? If you can do it eighteen days in a row for the bulls, surely you can help a nice guy like me out!
