Portfolio Update and Mean Markets

Yesterday I woke up in the middle of the night (Singapore time, 1 AM) and realized the massive correction in commodities. I bought oil at $78.20 and gold at $1556 on my iPhone and set up stops before falling asleep immediately...

The rest is tragic: I woke up, my stops had been hit overnight, and markets were now surging massively... And I had left a LOT of $$$ on the table... Gold and WTI are up in the 3-5%...

I wanted to share this frustrating experience with my readers for:

  1. transparency reasons: you either show your trades or not
  2. share my disappointment: you cannot always win, even if you see things right. markets are mean and tricky!


Anonymous said...

what trade? what portfolio?

pej said...

- if you're the regular anonymous dude, please get yourself a nick name, or sign your messages or something.

- in any case, I don't understand your questions.

Anonymous said...

Anonymous is my handle..I don't see your trade entries in /CL or /GC except talking about getting stopped out..I also can't find your portfolio link.

Anonymous said...

thought so...

pej said...

I think you're confusing with another blog, anonymous dude.

Anonymous said...

The only confusion is your trades..No entry, only exit..sounds like a scam to me..

Tiho said...

Speaking of peg's calls on the market, here is an awesome quote from you a year ago:

pen - July 1, 2011 11:32 AM
Dude, I hope you didn't get home on time to buy those grains. Nice collapse yesterday. Unlucky timing if you did... "July wheat was down 8 percent, or 49 cents, to $5.92-1/4."

Tiho - July 1, 2011 12:55 PM
Whenever prices go down, hopefully I'm smart enough to buy more commodities.

Funny for pej, he didn't figure out that July 2011 was the lowest low. Lucky I bought some Wheat coz if you look at the price now, its $8.32!

Link here for all to see.

Anonymous said...

Nice Tiho!

Tiho said...

Thank god I bought some wheat when pej told me not too, coz the price is now at $9.40 as opposed to when pej said to sell it at $5.90.

Good work mate, a true contrarian indicator.

Tiho said...

Other calls pej made were the Aussie Dollar to crash to 50 cents, Dow Jones to go to 1000, recession to occur in 2010, recession to occur in 2011 and Silver bubble to burst back to $10.

I highly recommend all readers to profit from these calls, by doing the opposite.

pej said...

As usual, around every market top, Tiho comes out of his cave to make nasty and childish comments. I used to think you were in your mid-20s, but now, I would really think you're a teenager dude. You need to grow up!

Let me remind you that we made a bet on the Aussie, and I forecast it would reach 0.50 USD while you were betting on a 1.50 USD.

While you've been forecasting silver to pop to the stratosphere, and not making any money on your 90% allocation to Silver for the past 12 months, I've made quite a decent amount of money shorting silver, and, I still stick to a bottoming price of sub $10.

I didn't forecast Dow 1000, Robert Prechter did. But then, I won't say it's impossible for the Dow to reach that level neither. I'm not discounting any possibility, I keep my mind open.

Finally, while you keep on piling into commodities in a series of lower highs and lower lows, some people manage to make money by doing something else. It doesn't mean they are stupid, it just means they have a different style and strategy. Again, your attitude is childish for the best, rude for the worst.

One word on "recessions": what is announced by the government entities never make sense. If you prefer believing what they say, good for you. One thing is fore sure: unemployment is high and rising, profits are declining. Feel free to think it's going to be a great boom ahead, but then don't say you weren't warned.

pej said...

- First of all, I don't even know why I should spend time justifying myself to an anonymous coward, but I'll do it nonetheless as a friendly gesture.
- Nobody forces you to read the blog. Feel free to move onto something else.
- Why on earth would I try to scam people into a trade on which I've lost money? Are you serious? Moreover, that trade, as I wrote was entered in the middle of the night, and excited while I was a sleep. Sometimes, I don't have time to write detailed post.