Check out this chart of the S&P 500 Spyders. Boy, am I smart. OK, so my stock pick (Open Energy, OEGY) is down. No sweat. It rallied last week and I'm hanging on. The REAL news is that your Swami Austin was dead-on August 16 when he said the little guy is always wrong. Go back and check me. I told you the market looked good because so many dopes were buying out-of-the-money puts.
The S&P 500 is up more than seven percent since August 16. Too bad I didn't buy the Spiders (SPY) instead of OEGY, the S&P index units jumping from 142 to 152.
Damn, I'm good.
Just not quite good enough to make any money yet.
Let's hope Open Energy fires up this week.
2 comments:
You, da fictional character. Nailed that puppy. All's I'm doing is treading water. Gotta dump some of my losers for taxes. The winners--I'll pay taxes with them.
-rick
Taking "tax losses" is the way us stockbrokers get rid of your losers, usually stuff you heard on TV, or companies the wife and kids mentioned after shopping. Of course, there is the ocassional turkey recommended by yours truly, or my ilk, but these are rare and can easily be explained by a dump truck of cow crap.
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