Happened to Break All Rules on The Worst Day Since the 2008 Crash

There is still over 2 hours to go before the market close, but I already can’t wait to vent my thoughts.

The hammer with long tail across major indexes yesterday eluded the bulls and bears alike.  I broke many rules just in time for a day where there was blood on Wall Street.

  1. I exited my bear ETF’s while the primary trend on the SI is still DOWN.
  2. I got tempted by the stock tweets on twitter and acted on them.
  3. I entered a trade the day before earnings.

I was already regreting for violating these rules as soon as the market opened – a big red gap!  Later in the morning, the news on Italy breaking down caused the market to crash.  And as jinx would always have it, I happened to have significant long positions from yesterday to greet the market free fall.

I entered PBR because of RaginCajun on twitter.  Down 8%.

Through RaginCajun’s tweets, I found iBankCoin.com where I got attracted to TheFly’s blogs.  He’s blatant in the use of his language, and I guess that’s what made him convincing to me.  He was adamant that WNR will beat the earnings this morning.   I followed him.   This morning it gap down 5%, and as the market crashed it literally got raped: down 19%.

Then there was CLF, another one of TheFly’s entry.  Down 6%.

And I’ve never even heard of these tickers before!

Needless to say, my portfolio is now at or near all time low: under$131,800 as we speak and the day is not over yet.  Margin calls probably will make it worse.

Tonight is the AONE earnings.  It’s down 9% for the day as we speak.  Could be my knock-out punch, or not.

PS.  Market is now closed.  This was one spectacularly bloody day, with market breadth $ADUSD at -6190.  SPY down 4.8%!!!

PPS. The day turned out to be the worst day on Wall Street since the 2008 Financial Armageddon with the Dow down 512.   Now I don’t feel so bad.

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