Wednesday, July 23, 2008

Blaaaahh !!!

I had a horrible monkey tilt session in poker yesterday. On the weekdays, I usually play in the nights mainly on Full-Tilt , and yesterday I proceeded to drop ~5kish+ in less than 90 mins to an absolute donkey in Heads-up (one-on-one, for the poker uninitiated) cash at the $5/$10 No-Limit level.

Needless to say I am mega pissed. I am still up about 10kish for the month on the back of very little paying time, but the bottomline is I AM PISSED and ON SUPER MONKEY TILT.

Anyway, I'll be playing (well atleast planning to play) three live tourneys this week (live tourneys are by definition 1000-X-easier than online ones, as live players are god-awful horrid BAD, and have no idea of even the extreme basics of tournament poker strategy):
(1) Today: a rebuy tourney, rebuys are mega fun and complete donkfests.
(2) Saturday: $250 buy-in tourney, 1st place is about 4-5kish, I should win this if for once my AA>J8o
(3) Sunday: $100 buy-in tourney, 1st place is about 2-3kish, I have won this thing about 4-5 times this year and depending on my tilt-factor I should win this one too.

But for today its BLAAAAAAAAAAH.
F Poker. Bring on the MBA apps.

In other OMG TILT news: the bullshit rally in stocks continue, for the second week now. Stupid Wachovia Bank (WB) has rallied from a low of 8s to the 18 in less than a week (brace yourself for this) on the back of a mere "5 billion USD loss". The whole fucking nine-yards of those shitty banks and the fin sector (ETF XLF), with the help of those dastardly stupid Feds , have rallied upwards of 35% in one week (apart from GoldmanS which is dropping faster than a hedge fund on cocaine), while 5 of them who've reported earnings this Quarter have declared collective losses to the tune of "just 12 billion USD+". Not to mention even the stupid retailers are rallying.
It is official : Reason has no place in today's market anymore. I still like shorting here, even though we seem to be in a weird bull market anchored by bullshit sectors. I like SKF, FXP here.

Disclaimer: On life tilt, 30% cash position


Anonymous said...

Like your blog, though it doesnt seem to be a 100% MBA applicant blog per se, but your posts are nice and refreshingly different from the standard mba fare.

Anonymous said...

Yup the market is rallying, at long last !!

m@ said...

I must admit taking offense at being called an "old hand". When I was your age, we treated our elder with respect, son! :)

OMGparishilton said...

@anon1: ty

@anon2: the homo hammer of death is on its way for you fin bulls

@m : will try and update ur status to "the elderly".

Starwalker said...

hey maybe the "rally" is because the prices before rally were expectig greater losses. So this is not a rally at all but a partial correction after the prices were pulled down more than warranted.

Don't know about us stocks, so don't know whether this is true, but this is one possible reason for apparent rally after a loss.

In India, we are used to seeing stocks drop because the profit growth in an IT giant was "only" 35% year on year. Same logic operates in reverse here.

OMGparishilton said...

@starwalker: nopes that is not the case here, this is a pure bullshit rally bcos the big money (read hedge funds/big PE managers) are moving in and out of sectors really really fast, without any fundamentals in place, in an effort to make any kind of a quick buck (most of them are losing heavily this year), retail investors have absolutely no role to play here really...

Starwalker said...

yup, thats also a possibility..

HappyBunny said...

J8o win over AA is awful. where did he had you? on the river?

OMGparishilton said...

@ happybunny: All in preflop for 2.3k pot, at 5/10 NL there are a lot of aggressive bluff raises and 4 betting, unfortunately I was crushing him preflop except that he turned a stupid flush on me.
I love poker !!!

HappyBunny said...

all in with j8o preflop, that's such a luck draw. It think it's good you called went all in with him though, I would too if I have pocket AA. Still that's awful play by j8o.