iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,426 Blog Posts

Book the Loss

If you are still holding onto losing positions, dump them already.

For me, the new year is a refresher. It’s a clean slate for everyone. The great equalizer.

I can go on.

If you wouldn’t buy certain stocks in your portfolio, with new money, then it’s time for you to bite the bullet and sell them, right now.

Think about it this way: if I gave you 100k to invest today, what stocks would you pick?

That’s what your portfolio should look like, not yesterday’s hot stocks.

Anyway, I’m heeding my own advice and selling many losers. For now, I will leave the proceeds in cash, while planning my next attack.

As for today’s trading:

[[ABK]] is receiving the “knife of certain death.” Eggs are on fire, via [[CALM]]. And, dry shit is melting up, via [[DRYS]]. That’s really all you need to know about today’s trading session.

Enjoy.

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48 comments

  1. Dinosaur Trader

    I’m thinking about selling half of my LNN because I want to “book profits” on the spike, but I also feel it could base and run more.

    I’ve more than doubled my money on this gem. What say you? Should I just continue to hold or take some money off?

    -DT

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  2. The Fly

    book profits after the new year.

    lnn is a bit rich.

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  3. mdawsz

    People should just blow out their holdings because it’s almost Jan? C’mon now.

    CAF still banking me money, a week straight up amidst all the goings on, odd.

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  4. JakeGint

    ISRG finally seeing a little weakness… and CRAAPL having a duel with the $200 line.

    If these glory stocks start to tumble…

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  5. WildWestie

    “If you wouldn’t buy certain stocks in your portfolio, with new money, then it’s time for you to bite the bullet and sell them, right now.”

    But I really don’t want to sell MVIS, even though I’d never buy any now. A real conundrum, no?

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  6. kd

    Fly,
    Are you still doing a write up on MVIS before year end?

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  7. The Fly

    KD

    A few friends will be attending CES. I’ll give an update soon.

    MDAWZ:

    Apparently, reading comprehension is not one of your stronger qualities.

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  8. mdawsz

    Just because a position may be down doesn’t mean it’s an all out loser, but I get your point.

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  9. phatfriday

    fly…
    what do you think the chances are of MVIS blowing the doors off CES? 50/50? What milestone do you think is most important for the stock to head north again?
    Embedded and/or stand alone solution would push it to 5.
    I hear eye wear will make a big splash like pico p did last year.

    And sources tell me auto hud will wow in detroit this year.

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  10. The Fly

    Mdaws:

    My point is to sell what you no longer like.

    Phat:

    MVIS will unveil a new goat milking device at CES. It will be grate [sic].

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  11. james

    Fly,

    What do you see BWLD doing in January?

    I’m down a lot hoping for a pre-earnings run to sell into strength. They are going to miss analyst estimates again I’m betting because last year they had the extra week in 4th quarter which led to an astounding 8.2% net earnings figure. I’m struggling to come up with 28 cents let alone 32 cents which is where the analysts are at.

    Thanks,
    James

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  12. The Fly

    Unfortunately, the BWLD qt does not look great.

    But, the current valuation is not rich.

    I’d book the loss, and get back in after 30 days.

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  13. phatfriday

    goat milk will rise higher than egg prices this year.
    i’ve milked a goat by the way… a goat nipple is a great embedded solution but MVIS will no doubt improve on it.

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  14. Frosty

    CALM…FLY, good pick to start the new year portfolio right here just under 29 a share…nothing like going into a new year with massive egg farts….nice.

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  15. kd

    Fly: MVIS will unveil a new goat milking device at CES. It will be grate [sic].

    phat: goat milk will rise higher than egg prices this year.
    i’ve milked a goat by the way… a goat nipple is a great embedded solution but MVIS will no doubt improve on it.

    LOL LOL. There is some thing wrong with you guys. I can’t believe I’m getting this kind of comedy for free. This is priceless.

    Fly is this why you want to be a goat hearder in Romanian mountains. You want to be the first re-seller of embedded goat nipple PicoP from MVIS.

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  16. ASSHAT DIP BUYER

    Hey Bearshitters,

    I banked coin this past week because I followed orders, (Broker A) and bought the dip in LFT a week ago along with some other reliable Asian etf’s.

    A no brainer in retrospect.

    Maybe in the new year you might begin to develop the ability to play what’s in front of you instead of listening to old bear-farts and messing all over yourselves on the odd assassination.

    Happy New Year!

    (LFT going higher as I type. Odd no)

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  17. WildWestie

    I use Reuters Bridge quote system and over the past month NTRI has had a

    UPC-71 Short-sale restriction

    associated with it. Naked shorting???

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  18. The Fly

    CAF is a mothers whore.

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  19. Frosty

    CALM…28.20 open postion, working a good case of egg farts via the FLY.

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  20. mdawsz

    Book your loss in FXP.

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  21. Suk Mai Dong

    Robert Hsu say CAF shue be no moah den fi pelcent of poltforio.

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  22. phatfriday

    BWLD is for goat fuckers.
    MVIS working on a device to make goats fly.
    BWLD will serve goat wings and become a cash cow while Ohio sorts through bogus presidential election returns for months.

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  23. Woodshedder

    FXP up, FXI down. Odd, no?

    I’ll sell FXP when FXI gets near 160.

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  24. cigars3

    Fly,

    Wouldnt you think BWLD would have a good chance to surprise based on the Indians being in the playoffs in October?

    The Browns had their problems but have remained in it too, getting those tire making Ohioans…Ohioites…Ohioers? to scarf down multitudes of glorious hot wings and cold beer.

    You were talking that up last Q, but the playoffs would not have had much effect on 3Q results. It should be in the 4Q results–if there was anything to the theory..

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  25. Alvari40

    Fly,

    You still tossing shit at your trader servant while holding onto the LEH-FXP-SKF play? I just banked 1/2 profits on the play and gonna let the remainder run for the rest of the day. Nice call and Happy Holidays Bearfucker.

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  26. nncoco

    I sold some stocks and bought GLD today. Next stop, a bunker in Idaho.

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  27. Mr. LIMM

    Wheah is Flosty wit his CLOX lebound pray?

    And have you finary taken some plofits in LIMM, yet, Sweah-n-g’n?

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  28. Henry Paulsen

    I have a bunker made of gold bricks, much to the chagrin of the Fly.

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  29. phatfriday

    i predict chicken wing shortage due to rising egg prices.
    omelet trumps bbq sauce.
    CALM… Golden egg.
    BWLD… nothing but bones.

    no correlation between eggbeaters and wifebeaters.

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  30. Suk Mai Dong

    Goo to know dat dare ees wan odda pelson rike LIMM steeah heah on dis brog.

    Dis “R for L” sheit wew na go away.

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  31. JakeGint

    BA —

    Curious… most brokers I know hate Precious metal plays (“no interest” in holding metal, they say).

    Are you of the same mind? Do you own any “physical?”

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  32. Frosty

    CROX…still own plastic shoes…perfer CALM induced eggs farts more…who wouldn’t.

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  33. Mr. LIMM

    Who stir like LIMM?

    Onry clazy peopers.

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  34. Juju bear

    Phat
    I predict phatter [sic] chickens due to corn surpluses.

    Decline in goat population is causing milk prices to skyrocket.

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  35. Mr. LIMM

    Flosty,

    My Blother in raw showed up weahing rined CLOX with Boston Led Sox rogo on dem.

    Seared dah dear fo me.

    Next JSDA.

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  36. Suk Mai Dong

    LIMM
    Yaw blooder in raw gay?

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  37. Re" FXP?

    Fly,

    “The Fly” is on the verge of making his best call EVER!”

    Your best call ever would have to be in excess of a 25 bagger, no? Obviously, FXP is not the nitroglycerine-fueled dynamite-studded car that will take you there, no?
    If FXP is not the vehicle, what can do 25x+?

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  38. PoorOkie

    Wow, look at that volume!

    http://i57.photobucket.com/albums/g232/npgnpgnpg/keiraflat.jpg

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  39. Mr. LIMM

    Suk –

    He Led Sox and Clackboy fan, so “same ting.”

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  40. Mr. LIMM

    Po Okie:

    What is up wit dah fine Blitish chicks and dey penchant fo rooking rike hookahs on rast heh-oh-in binge?

    Mebbe me aks fake Bildahbulgah servant.

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  41. phatfriday

    juju:
    you’re an amateur.
    everyone knows the egg comes before the chicken. less clean up, higher profit margins.
    if you really want a phat one though, i’ve got something in my goat skin bag for you to chew on…

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  42. The Fly

    Well, maybe I’m exaggerating a bit about it being my “best call EVER.”

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  43. Weed

    I’m hoping MVIS will be his “best call EVER”. My retirement plan hangs in the balance.

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  44. phatfriday

    MVIS: successfully miniaturizes stock price.

    however, it will close over 4 today… and begin its run-up into the agriculture festival, er, um, CES… where they will unveil the projector in a giant pumpkin and near eye display for lost sheep. (powered by navteq)

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  45. JakeGint

    Fly — If you still have that Fib chart I sent you on RIMM, it’s amazing how it’s still respecting those lines. Touched the 23.6% retrace on Boxing Day almost to the penny and bounced up… Now headed that way again ($114.25).

    Something to keep an eye on.

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  46. Alvari40

    Fly,

    Just closed out the LEH-FXP-SKF trade. Thanks again. Market is stalling to the downside and we are seeing some lift in the financials. I feel an afternoon pop that may last through Monday. On the sidelines for now, having fun making my list for next year. Any way that airlines catch a bid in ’08 via M&A?

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