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Power down the computer. Shut down the Bloomberg terminal. Turn off the TV. And go take a walk. You won’t see a 5% intraday sell off in the Nasdaq very often, and if you’re shaken up after today’s sell off, there’s a darn good reason for
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Okay, heading into the close, I’ve done a few more trades. I did sell a fraction of my puts in Wells Fargo, mainly to lock in a 50% gain after just three days. You don’t get returns like that very often and this gives me some cake that
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A snapshot of the headlines says a lot. For what it’s worth, only James Altucher and I seem to be wanting to buy this market on this crash. We could both certainly be dead wrong, but I’d rather be a contrarian. Matter of fact, contrarianism is a form
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Yesterday, I met about 100 of our subscribers in the chat room at TradingWithCody.com/chat and we had a blast and learned a lot. Here’s the transcript, lightly edited and condensed. We also organized the transcript so that general market/investment/trading/strategy questions and answers are at
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I do think it’s a better time to buy than to sell right now. Easy does it though. Trying to catch a perfect bottom is the quickest way to getting wiped out. Meanwhile, there are some very important psychological lessons to today’s action. Do you feel sick to
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I’d written earlier this week repeatedly about how the hardest trade to make had been no trade at all. Not trading at all was particularly “hard” since we had raised so much cash at the highs just a few days earlier. If we stay with the concept that the
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Sailin down the river in an old canoe, a bunch of and an old tennis shoe. Out of the river all ugly and green, came the biggest old alligator that Ive ever seen! Teeth big and pointy and his eyes were buggin out, contracted the union, put the beggars to
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The markets have stabilized, at least intraday here, and the Nasdaq has even climbed into the green for the day. The S&P and DJIA and the market’s breadth just turned fractionally positive too. I bought some more Marvell calls dated out into February 2012 at and around
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Remember during last week’s chat when I wrote: Feet to fire, I’d guess that the market’s probably got 2-5% downside vs. 1-2% upside in the next week or two and then we’ll be back off to the races somewhere starting the second week of August or
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Yesterday I wrote a piece on here called “The good, the bad, the ugly and otherwise…” Today that piece would be called “The ugly, the ugly, the ugly and the ugly…” Because it is U-G-L-Y-you-ain’t-got-no-alibi ugly out there today. We were luckily raising big cash last week when the
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It might be funny if it weren’t just pathetic, but do you remember how a couple weeks ago these idiot Republican/Democrat politicians and the bureaucrats they appoint at the Treasury, Fed et al, were running around the Sunday morning TV circuit warning that the markets would get hit
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The good – Well, the markets are down sharply, but our WFC and other shorts are working for us. Apple is still up and Google was up most of the day until just recently when it ducked into the red now. The bad – The telecom stocks are really under pressure and