This is fun, right?
We had a nice opportunity to buy the F’ing dip yesterday as well as an interesting opportunity to test the prudishness of the hundreds or web sites that syndicate my articles as I saw every possible variation of “F’ing” popping up in titles that were pinged back to me. Social mores aside the move was so well telegraphed that we were able to take a non-greedy exit on our QID position – leaving us, thankfully, with just the DIA shorts in our $10,000 Portfolio. That means, we are going to be able to start our brand new $25,000-$100,000 Virtual Portfolio right on schedule next week.
We began “Turning $10,000 into $50,000 by January 21st” on June 11th and we’re not done yet but we’re well over $30,000 – even looking at our wrong-way (so far) short bet on the Dow. We could have killed that one yesterday as well but, as today’s title says – we just have to give the old Alpha 2 a chance to fully play out as we would just hate ourselves if we get get that 500-point drop in the Dow right after we bail on the shorts as that would be our $50K right there!
So up only 200% or so in 7 months is a failure but, to be fair, we did take a couple of months off as I didn’t like the market enough in October and November and we already had $26,000 so it didn’t seem worth risking 260% to make another 100%. In the final month, we decided to “go for it” but it was a messy way to make another 20% as our overall premise – that a drop was “right around the corner” simply did not pan out.
Frankly, looking back at the original 5 picks makes me want to cry as we could have just left those on the table and gone on vacation! They were:
- 10,000 YRCW at .21 (we doubled down at .11), now $3.76, up $35,500 (a Bazillion percent, I think but there was a reverse split…)
- 20 C Dec $3/4 bull call spreads at .62, closed at $1, up $760 (up 61%)
- 20 short C Dec $4 puts at $1.08, close at $0, up $2,160 (up 100%)
- 20 TASR Jan $5/7.50 bull call spreads for .35, now $0, down $700 (down 100%)
- 10 short
…
