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I’ve spilled many barrels of digital ink whining about the fact I fled my huge IYR put position in mid-August at just about the most terrible time to do so. I obsessively watch the Could Have Been figure, and now my puts, which I dumped at $3.10, are 19.25 x 19.45, and they’ve still got 22 days left on them. I’ll remember this one on my deathbed, people. What a genius chart, and what a colossal fumble.
Let me share a personal experience and hope you and I can both learn something from it.
I’m not sure precisely when it began, but this premium post from March 7th is a good place to start. In the post, I make it abundantly clear that the real estate fund IYR is one of my favorite analogs of all time (using such words as “crazy about this analog” and “just ga-ga”). I’m certain this wasn’t my first post about it, but it is at least one where I put a stake very firmly in the ground that I am bonkers about the IYR short.
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God damn it. The past two weeks might as well have never happened. We’ve been thrown right back to the levels two Fridays ago, on August 26th. Hey, BEARISH MONTH SEPTEMBER, when are you going to do your job?
