Friday, October 14, 2011
I got very f*cked!
NDX shot way above 2350 and my total lost on options trade is around $1200. I should have closed the trade yesterday but held on and GOOG's results pulled tech stocks way beyond what I have anticipated. So for the year NDX has shafted me beyond $10k losses. Worst yet I have a wash sale on this trade hence excluded from my income. I just gave away $1200 and paid taxes on top of it. This is the greatest kind of robbery there ever can be. Let it continue as the market churns upward while I trade on the wrong side. My TZA is at a four figure paper loss and growing but I can manage because its still a position. F the market for being so overly optimistic when nothing really has change. Europe still needs to be bailed out and America is not growing economically fast enough to produce decent jobs. Why on earth would the market trade logically I wonder. Let it be known that I intend to battle on. Win or lose I continue this fight because I still have capital. Bring it on!
Thursday, October 13, 2011
Lazy but still playing the market
-This is the real deal. Read at your own discretion.
I have not journal in my blog for a long time due mainly to my laziness and lack of motivation to do anything productive with my life. (That is another story for later.)
Presently I maybe shafted for having sold a weekly vertical on NDX options 2350/2375. Maybe because NDX closed at 2326 as of Thursday but tomorrow right at market open is when the option expires. Google just recorded record profits and the techs are strong in today's lackluster session. Am I f*cked or am I truly f*cked. If options expires above 2354 tomorrow I will lose money hence the f*cking. If it closes below 2350 I survive another day and pay more taxes to uncle sam hence the f*cking. I had been patient to not sell short on the market until yesterday but still I am in the hole.
Furthermore I am holding 400 shares of TZA that I purchased last thursday at $45.50. The market has been shooting up and ripping the faces off of bears. I am one of them and I can not do anything about it. I sold calls to reduce the loses but even that is not enough to subdue the loses.
If I have to hope for the best it would be for the market to kill itself tomorrow. A market decent is highly unlikely any time soon for there is so much hope for all the bulls. (Being sarcastic) Go ahead you rich bastards. Go toss your $$$s into the market to squeeze more shorts. I stand to lose a lot but I am stubbornly willing to hold on for a bit longer. This same thing happen two weeks ago where I had bought TZA at around $49 and began dropping to low the $40s before shooting back over $50. These 3x leverage ETFs are very very volatile indeed. It is definitely not a way to invest one's life's savings on. I intend to get the F out of TZA at breakeven. Odds are not in my favor but I have hope things will go my way. Hey if everyone has hope the market can continue to churn higher, it makes perfect sense for me to have hope for the market to churn lower. Is it not pathetic? Hahahahaha.
Peace Out!
I have not journal in my blog for a long time due mainly to my laziness and lack of motivation to do anything productive with my life. (That is another story for later.)
Presently I maybe shafted for having sold a weekly vertical on NDX options 2350/2375. Maybe because NDX closed at 2326 as of Thursday but tomorrow right at market open is when the option expires. Google just recorded record profits and the techs are strong in today's lackluster session. Am I f*cked or am I truly f*cked. If options expires above 2354 tomorrow I will lose money hence the f*cking. If it closes below 2350 I survive another day and pay more taxes to uncle sam hence the f*cking. I had been patient to not sell short on the market until yesterday but still I am in the hole.
Furthermore I am holding 400 shares of TZA that I purchased last thursday at $45.50. The market has been shooting up and ripping the faces off of bears. I am one of them and I can not do anything about it. I sold calls to reduce the loses but even that is not enough to subdue the loses.
If I have to hope for the best it would be for the market to kill itself tomorrow. A market decent is highly unlikely any time soon for there is so much hope for all the bulls. (Being sarcastic) Go ahead you rich bastards. Go toss your $$$s into the market to squeeze more shorts. I stand to lose a lot but I am stubbornly willing to hold on for a bit longer. This same thing happen two weeks ago where I had bought TZA at around $49 and began dropping to low the $40s before shooting back over $50. These 3x leverage ETFs are very very volatile indeed. It is definitely not a way to invest one's life's savings on. I intend to get the F out of TZA at breakeven. Odds are not in my favor but I have hope things will go my way. Hey if everyone has hope the market can continue to churn higher, it makes perfect sense for me to have hope for the market to churn lower. Is it not pathetic? Hahahahaha.
Peace Out!
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