I made a grand 1.2% yesterday. Woo hoo! No. Yesterday was a complete waste of time for me. I should have just taken a nap.
Anyway, my allocation is 48% long (ANPI, AXL, BLTI, CTIC, LEA), 10% short (QID), and 42% in cash. For those that think the dollar stock circus packed up it’s shit and left town, you are mistaken. I will be buying more stocks today.
The market (SPX) is simply consolidating, churning in a large 50 pt range. It is possible that the market may be forming a triangle as seen on the 2-month chart. Who knows? Most of my dollar stocks don’t move with the general market anyway. They have minds of their own.
My strategy is very simple. It is to buy $1-3 stocks that present great opportunities while hedging my portfolio with one short unit. The dollar stocks should breakout on an up day, and even though the short will decline, the portfolio should be net positive. If the market goes down, the dollar stocks should not get hit as hard as the general market, and the short obviously will give me a buffer against loss.
If there is a loss, and the chart gets fucked up on the daily, then cut your losses immediately. I’ve taken many losses during this circus, but the thing that separates me from most traders is that I keep the positions small and I do not hesitate when I need to sell. Take your losses and move on. Similarly, take your gains and move on. Stop fucking around wasting valuable working capital.
Since the COMP is churning at the 200-day, I cannot and do not expect the market to steam roll higher day after day. You have to expect some down days (duh). You must already prepare for them, otherwise, you will panic. In addition, oil is showing a high-and-tight bull flag, which is a characteristic of an imminent breakout. If oil heads higher, then the market goes higher.
I urge everyone to not commit to one side, but have a hedge as an insurance policy. If you notice, I am regularly X% long/X% short. While it may be your goal to make as much money as possible, my primary goal is to preserve my triple-digit gains.
Wait, actually, my goal is to make as much money as possible. Sorry for the confusion.
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CA:
Did you mean to include a chart of $WTIC ? your SPX chart seems repeated. Thxs.
CNTF? Or is volume too light, homes?
Nice work CA……
Love your posts/charts. Are you runnin’ with the Cajun on DXO?
keep the positions small and I do not hesitate when I need to sell. Take your losses and move on. Similarly, take your gains and move on. Stop fucking around wasting valuable working capital.
Probably no truer words were ever penned in these here parts.
MT and CRXL BTFO…pre/mkt
there goes GG & SSRI…
maybe the big boys get play today…
BQI, AZK, RBY, CDE, I was a little late hitting RBY and CDE
humble offerings. In a few percent each
z
NGD close to breaking out. Come join me….
OCNF.. nice
AXL and ANPI looking great!
Sold half QID
If CA happens to drive to Portland Maine, I will hand wash your goddamn car. I’ve studied LEA and can’t figure it out. I still picked up some because you guys are so ridiculously on top and I’m a very, very good monkey – at least I try to be
out from LEa for 30%
tza – 25.55
qid – 36
THMD 3.70
got another lot of qid at 35.45, this beast is gonna reverse at some point, no?
Bought XTEX $3.46
*corrected from WRES. I’m watching too much shit.
WRES in 1.15 range…why u paid 3.46??
thanks ca
ETWC @1.15
GDX looks like it is breaking out of consolidation channel.
XING er
CA:
What do you think about AHR?
Could someone explain why CTIC is liked so much by so many of your giants here? Fundamental or TA? It does not seem that a break out is imminent or ..
many thanks.
I like AHR and XING on the daily.
CMRG….ready to bust one?
CDII
You think the markets are making a double top here?
Look at the charts between late December and today. It could well be a cup and handle and we are in the handle portion – explains low vol.
what do you think about NCOC after the breakout last week?
Bought FRZ $2.07
hmmm… circus poles coming down? i hope so with my outsized qid position
exited 50% of QID and entire TZA position, will wait for further breakdown to exit ther rest of qid
opinions on FRZ? oh nevermind, didn’t know u bought
CA,
Ok the banks have been pulling this market in and the only thing that looks good to me are the PM’s
DO like this pullback??
Sold AXL $2.42
Hmm… Z? U can’t even get a dollar on those iETF?? wtf? stop posting in this comment. we are talking about 20 – 50% intraday gains. So please stop mentioning your penny gains in here!
tmi, total gains/losses depend on the size of your position and not only price movement but you already knew that…
how much can u BUY 1000?? 10000 shares? Please!!!
GLUU 0.82
LVLT making a move? I’m in, wth.
Juice-
I won’t play GLUU myself, but I have been noticing your picks on my blog for the past several days. You definitely know what you are doing. Keep it up.
Juice, nice entry on LVLT…….im 100% cash now
tmi, f*ck off, i will buy as much as my cash and risk tolerance allows… do not please me you old shit
plz stop catfight
Piss huh? You know why??? Because you know I am right.. Here we are talking about penny stocks play 20% – 100% moves; while it last. and you are telling us about your 2% move on those diETFs. Learn or get the fuck out… really!!
In UYG @ 3.97
Ring – Just want to get these BS ppl out of here so we can focus.
tmi, settle down. the market is approaching overhead resistance, so comments about inverse ETFs are becoming relevant. CA was in QID. i’m sure there are many readers who are considering short positions soon. whether or not the dollar circus is here to stay is debatable, but your attempt to suppress opinion here is out of place and should be left to CA.
tmi, no you idiot, you are not right even though it may appear that way to you
I still have 5% QID. Just sold half of it. I will always keep a short hedge right now. Basically, it’s a condom for my portfolio.
Position Update: ANPI, BLTI, CTIC, FRZ, LEA, XTEX, QID.
one of the reasons i posted my qid and tza trades was that i knew people on this thread owned it. And by the way market popped again and i am looknig to re-enter if NAZ goes up another 10 points to +25 or so
Overlord- I do have a short bias if you are really short you should keep those diETF for swing! CA mention these penny stocks because they don’t happen as often! Z was bitching earlier.
z Says:
hmmm… circus poles coming down? i hope so with my outsized qid position
That’s how this whole thing started!
which whole thing? so what that i said “poles coming down”? And they came down and i sold out QID for profit.
Whats your point? can you post something material? like your opinion on market or index or stock?
Poles coming down <– very materail..
SO SORRY~~ IT DIDN”T CAME DOWN. infact i just bot more earlier!!
DY <– great breakout today!
tmi, i am glad it worked out that well for you. What exactly you bought more earlier? And at what price?
DDY second add @ 9.41
ANAD second add@ 3.40
CTIC second add @ 1.25
ENTG @ 2.42
LEA second add @ 1.71
DDY second add @ 9.41
ANAD second add @ 3.40
CTIC second add @ 1.25
ENTG @ 2.42
LEA second add @ 1.71
DY second add @ 9.41 not DDY
looks like the circus is about to end…..H&S forming on the 10 min SPX neckline around 908….GS is the canary in the coalmine
Sold FEED at 5.15, thanks CA!
Great job Controller
CA – thanks a lot for the encouragement … you are THE MAN and it means something 😀
CA,do u think time for some shorts??
Bought 5% FAZ
Haha.i too got it
in NAVI 0.71
a lot of sh*t reversed today – tech, banking, retail. TLT shot up at exactly 2:00
and NYSE volume is the highest in last 5 days. i am about 15% short (QID), very little long 2%, rest in cash. Looking to scale back to longs again about 50 to 100 points down on SP500
CA,
what do you think of UEC?
interesting
Shorted POT…holding over night..FAZ and Short POT…..60% cash
CA,
When you say you bought 5%, do you mean you initiated a 5% position, or you committed 5% total of your portfolio?
Fook – 5% of my portfolio. So, for ex:
Allocation Update:
5% FAZ
5% QID
8% XTEX
8% FRZ
8% BLTI
9% ANPI
10% LEA
15% CTIC
32% Cash
Treacherous times. I just saw that Macke clip referred to over on the flypage. Macke might be coked out – but in a manner, he’s explained the current picture perfectly…
Chart…just wanted to say enjoy your work and posts..good stuff..feels like the dollah parade is over for now…You did a great job..wish i had followed more earlier..As of today sold most small shit and took home SKF – FAZ- TZA..thanks again mate.
CA – thx for the update. Great stuff as usual. Also question for you – since you are long FAZ / QID do you count those as 3x and 2x short positions when calculating your net long short exposure? So I would guess you are closer to 25%-ish short here? that correct?
I think CA already did the multiples.
TMI. I’d like to point out penny stocks are great( i am considering <$5 a penny stock). But it really all depends on your capital and the volume in the stock. As much as these penny stocks can go up they are virtually worth nothing for a legitimate reason. Not that they cant be great trading tools.
Ferrari – I don’t do that. I consider both positions as ‘volatile 5%er’s’, but I do not multiply their exposure.
Josh – a stock can be $1 or $100, it doesn’t matter. It’s about the setup. They should be traded only, however.
pretty much what i said… anyways i got a stop on my /es at 898 on my /es i shorted at 907. i think we might get a slight bounce here. hopefully we break to downside of channel though( a gap down will do so). CA what you think of BAC. sucker got me confused. http://tacharts101.blogspot.com/2009/05/charts-of-interest.html
breaks to upside of channel on high volume but closes in red
volume doesnt seem so bad now with the equity offering. probably just underwriter moving stock price up for higher fetching
closed some short /es at 896. Shorted at 907. Feel like I might be able to get a better position tomorrow.