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I was upset with myself last week for fumbling the FNGD trade. I have made it right, it seems, by entering it again in size yesterday. So far, so good. Full disclosure time, though: since I’m a bit of a pantywaist, I’ve taken profits on FNGD and SDS as well as my QQQ puts! Anyway, here was the lift-off on FNGD:
I would first like to acknowledge this is probably one of the cleverest post titles in the history of the written word. But that’s not why we’re here.
We all remember my post from a couple of days ago called Credope, in which I assailed myself for my clumsy handling of a trade opportunity. Well, I stand by my self-flagellation in that post, but I do want to tell you that, yesterday morning, when CRDO was sky-high, I increased my options position, and as I stand here right now not only did the position not get destroyed, but it’s profitable. So, considering these are June puts with 127 days of life in them, I’d say there’s still great promise here!
See, I told you Robinhood was a great pattern! Sadly, it’s too late for me to do anything about it. This thing is going to get nuked.
Here are a dozen charts of live short positions which I am confident will be A-OK, even with the quadruple-digit rally on Friday. These patterns are large, powerful, and ready to take on the bulls!
What a change we’ve seen in the past couple of weeks. I’ve gone from hoping I can make it through the day to instead wishing I was even more short than I already was. Plus, I’ve changed from worrying what the hell I could possibly write about to having so many ideas that I can hardly sleep. It was a sudden shift.
Speaking of which, on the heels of its earnings, Alphabet went from spiking to puking.
