I’m not gonna lie, all I want to do is BUY, BUY, BUY with my cash reserves. I’m pretty much all cash right now, with the exception of 1000 shares of VCLK, and 300 shares of UYM that I just bought this morning. I sold my AAPL this morning at $86. Bottom ticked that bitch. That’s why I stopped day trading. Still made about $800 on the one-day trade though. Could’ve made $1800 if I sold after the close yesterday. Dagger.
Anyways, if you donkeys are thinking the same thing as me…wanting to buy down here, then speak up now because if we all agree, then we are most likely wrong, and I will start shorting the shit out of this market. I see a lot of opportunities down here and the charts are making a case for the long side. I’m actually ready to put some more money to work on the long side. I just want to make sure that we’re not all thinking the same thing.
I’m gonna start gathering some thoughts from my stock market buddies, then I’ll make a decision. I know what I want to do, now it’s time to see what everybody is doing. Lately, gathering information from other traders have been more valuable to me than studying the charts all day long.  At the poker table, I overheard one dude asking another dude what BAC was doing. This tells me that the banks are probably going down in the near term because it seems as though everybody is still long and usually always very wrong.
Alright, no more stock market talk until I take some action. I’m not quite ready to do that just yet. Still just watching and waiting.
Some interesting things that I’ve read today:
China sentences two to death over tainted milk
Man, they don’t mess around.
The sign posted outside of my condo:
Yes, I can see the sign from my window. And yes, it says “prostitution free zone”…hah. Good to know.
I commented on a poker hand over at Mediocre Poker Radio blog and the other dudes bashed me. One of the guys from the Junkies runs this site and the Mediocre Poker radio show.
I love watching Fedor fight. Probably the most exciting MMA fighter in the world to watch and most UFC enthusiasts don’t even know who the hell he is. Watch this video:
Fedor – The baddest man on the planet – Part II
Damn, I’m getting cised to watch the fights this weekend:
Inauguration. I was in AC for the inauguration, but while I was watching the crazy crowds from a poker table at the Borgata, I kept asking myself why I wasn’t there. I mean, shit, I live like 6-7 blocks away from the Capitol…it’s less than a mile away from my place. Initially, I was thinking that I just didn’t want to deal with the 2+million people coming into the city, but then, as I was watching, I just felt as though I was missing out on a part of history that I’d probably never get to experience ever again. Playing poker at the Borgata, I could do any time. Being a part of the inauguration of the first African American U.S. president in history, never again. Yeah, I kinda botched it. I did watch it on TV, but I think it would’ve been much more fun being there, even if it meant freezing my ass off and standing outside for 8 hours. Oh well.
The Borgata. I played my game for the most part. I split my time equally between $1/$2 NL and $2/$5 NL. Some of the $2/$5 NL games were pretty tough to win money without playing in a tight/grind mode, so I went to the lower limit to get away from those games. On Tuesday night, I played in the $150 + $30 “second chance” tourney. After playing in that tourney, I came to the realization that short stack tourneys are nothing more than seeing who is the luckiest player. Seriously, there was very little skill in involved in playing this tourney…I hated it.
Til tomorrow.
I bought 2k shares of IWM. I think small caps will rebound the most on the rally that should be coming soon. I am going to keep the rest of my powder dry in case we test the lows again.
↓ Quote | Posted January 23, 2009, 12:50 pm