Popular Blogger Reveals He’s Been Obliterated In The Market Lately

The stock market had a horrible first part of the month, but over the last several days there’s been a nice comeback (yesterday notwithstanding).

At 1863.40, the S&P 500 is less than 2% off of its all-time high. So on the surface, it would seem that the market has been a little more volatile lately, but that mostly everything’s fine.

But this surface-level reading ignores some of the extreme carnage we’ve seen in high-beta tech stocks, which naturally have been very popular areas of the market for traders to play. If that’s where you’ve been concentrated (which a lot of traders and hedge funds have been) then the S&P being a mere 2% off its high probably doesn’t mean much to you.

The pseudonymous trader The Fly — who goes by @the_real_fly on Twitter, and who has been a well-liked member of the community for years — put up a post yesterday simply titled O U T.