03-10-2020, 09:10 PM
(03-10-2020, 01:53 PM)Otter Wrote:(03-10-2020, 11:46 AM)fenders53 Wrote:(03-09-2020, 09:37 AM)Otter Wrote: Still sitting on Puts.
Otter, I hope you'll accept my sincere apology for losing my cool and calling you out on this post. I lost a ton of paper money the past few weeks (yesterday was particularly horrible), and I was half cash when this all started. It has to be much worse for other DGI investors who are younger and buy and hold with little cash. (as it should be). If I thought you were just gloating I should have called you out via PM rather than publicly. But I did it in public so I'll apologize in public too. You have always been are an asset to this forum.
No worries, fenders. I have enjoyed seeing your and others' ideas here over time, and bouncing ideas off of folks here. It is a good community. Volatility is stressful for everyone.
It has been stressful. They say every bear market (or hard correction) is different. Wow is that an understatement. This isn't my first crash. Not the first time I've had large paper losses. But I've never seen anything like this. It feels something like this has been going on.....
DAY 1- The virus is coming! Some companies will see their earnings hurt, DOW drops a couple thousand
DAY 2- Maybe it won't be so bad, DOW runs up 1000 points like 10 blue chips just crushed earnings
DAY 3-Just kidding, we're all gonna die and the oil market is ruined forever, DOW drops 2000
DAY 4- AAPL and DAL are gonna blow earnings bad, that's OK, we love those sector leaders, DOW goes up 500
DAY 5- We're all gonna die for sure, this time we really mean it, market trips circuit breakers
I got the order of events wrong of course, but it's been that nonsensical and only machines trading algos can make that happen. Humans are just not that bi-polar from one hour to the next. This is just not normal. Meanwhile, I'm trying to build 12 new positions and I don't know for sure if I have three days or a year to get it done. I just know I have too much cash. I feel like a lab rat that has been conditioned to buy every 3% dip because it's worked for years. Snooze and you lose.
The one thing I am pretty sure of, I better not be short so much as a covered call when the virus slows down and the election is approaching or I'll be sorry. The President will cut taxes to zero, bail out every industry that's in trouble, and take the Statue of Liberty to a pawn shop if he has to. I'm as sure as that as you were sure the virus would crash the market.
We have some more up and down 2000 pt days coming IMO.