Thursday, July 7, 2011

SHORT COVERING AKA IT'S A DROUGHT CAUSE THERE'S NO RAIN

OK I wrote this post and deleted four times already cause it was too mean and intolerant, but this is the last straw.  No matter how good you are at trading the markets or how many subscribers you have buying and selling all your tips, short covering is a retarded fucking phrase.  It's almost as bad as "overbought/oversold".


Here's what you think you are saying when you say "short covering": ok the market was down so a lot of people were short (sold shares they didn't have in hopes the price will drop so they can buy back at a cheaper price, pocketing the profit) and when the market ripped higher, they had to buy back, thus causing the market to go up. 

Here's what I hear: you have no fucking idea why it's going up.  You were wrong when you predicted the market was going down.  And now to cover your ass, you pull this buzzword out of there to explain the unexplainable: that the market will do what it wants to do.  You are as bad as CNBC saying the market was up today because we found Osama's ass and beat it raw.  It's pure hem-hawing to pander to your internet fans and followers.

Here's my suggestion: read Edwin Lefevre's Reminisces of a Stock Operator.  Understand that there's nothing mythical about stocks.  You might as well be buying and selling watermelons.  It's all about fear, not even fear and greed as many people say.  Greed is just fear of missing out.  Understand most of these blogs are here to sell you something: a subscription, a 100000% return black box program, feeding their ego, whatever.  (For me, it's feeding my precious ego).

I think my point is this: I miss the day of when the game was single-player, when every winning trade was not accompanied by thirteen tweets and kiss-ass canned responses.  When the game wasn't about selling the game, when being a stock speculator was about speculating.