Let’s start with this comment from earlier today:
Allow me to show you the chart of AMD, which was the most important earnings report this afternoon:
Peak ecstasy for me was precisely at last Wednesday’s close. Since then, I’ve been having a glass dildo shoved hard up my backside, and I’ve been drawing down my exposure hour after hour.
This morning, it was down to a laughable and pathetic 14% exposure, which is just fuckin’ SAD. In any case, an hour before the closing bell, I ramped up from a completely pencil-dicked 10 positions back up to 20, and up from 14% exposure to 50%. Not aggressive, but at least……..something.
Sadly, as shellshocked as I am, I dumped 40% of my SMH puts earlier today, out of fear that AMD was pull a CAT and go soaring into outer space. Thus far, it is doing no such thing.
Anyway, Gold and Platinum members can, as always, check out my positions via SlopeCharts. The past four trading days have actually sucked infected donkey for me, but the only reason I’m still on my feet is because I’ve kept my exposure low.
I hope to God tomorrow morning starts to turn things around. Sheesh.
