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Crap.
All these huge red numbers normally would delight me, but for the love of God, I wanted at least a few more hours of buying before getting aggressive again. It seems I’ve missed the boat. I have 40% cash, and I resent every single dollar of it.
I’m delighted to report a rare instance of me not completely screwing up. You see, I am long puts in UNH, and they are up 90% so far. I came THIS close to take profits today (arrow) but slapped my hand away, because the stock hadn’t done anything wrong. There were all kinds of reasons in my head as to WHY I should get out, but, for once, I managed to control myself and stick with it. You can imagine my relief when, just minutes later, I saw this sucker plunging.
Wouldn’t ya know it? I sure did. When I took my profits on my SOUN puts, I said on my show the stock would probably keep crumbling. Yep!
Let’s talk about Shopify (SHOP) for a moment, because there’s a point I’d like to make. SHOP announced earnings hours before the market opened, and the stock plunged by about $20. I had no position, but if I had puts, I’d have been briefly thrilled. However, the stock’s low was basically set a few moments after the earnings came out, and it did nothing but climb afterwards. Once it was all done, the stock actually CLIMBED for the day. Any Shopify bears were understandably pissed and/or disappointed.
