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Thursday, November 30, 2017

Baby Bull: How one man spotted 60 of the last zero bull markets: Part 5

Updated and brought to the front as many are considering shorting the VIX and this still cracks me up.

Parts 1-4 can be found in the archives.

Part5: TVIX edition.
So before Gary was sure that the Fed had his back and ass, Gary was a little more sceptical on the bull market. He wanted to make a killing by buying leveraged VIX products, which he expected to go up 300% plus. Legend has it that many subscribers warned him of the decay but Gary would not be fazed. He had Titanium balls and a pliant ass.

In true Gary style he bought TVIX on March 6th

Gary's blog was a lot nastier looking back in the day and the only way to read it was to actually highlight the text.
Click images for larger view

Summary: Gary was unfazed by a small drawdown in VIX. He knew  a stock market crash was coming (No Fed and Bankers back in the day) and he thought way before the decay he would make 300% in TVIX. He added that the chances of losing 50% on this trade were "pretty slim". I shit you not. 

So what happened?

Gary's purchase and sale are marked (Sidebar: Annotating charts with a mouse for a pen sucks ass). 

Yep 64% loss in 14 trading days. Followed by an exit. 

But wait! There is more!
You would think that Gary would be apologetic as hell and spend his time alternating between ass kissing and ball fondling, OK he does that anyway...but still.

Gary instead took the opportunity just after his big fuck up, to impart a few more lessons on his flock.  Yep. 

Yeah Gary. Thanks. We wouldn't want to do anything stupid. 

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