On days like this, in the midst of a massive melt up, try not to get caught up in the euphoria. It is days like today that separate the haves from the have-nots.
With that in mind, I am selling out of some of my lesser quality names and taking profits on recent scorchers.
Thus far, I have sold out of 90% of my CUZ and TWI positions, while trimming RFMD by 50%. My goal, as always, is to raise my cash position to about 20%, up from 5%. I think the market goes higher; but that doesn’t mean dick.
Part of this game entails buying when no one else wants to: but it also includes selling when I do not want to. Believe me, I want to buy lots of shit today. However, I am tempering my aggressiveness with memories of past failures and inadvertent dunks into dark pits of tar.
Needless to say, I am banking “robbery-style” coin today, at a criminal rate. I have called all of my bearish friends today, making sure to gloat, in order to twist the knife a little deeper. See, I do such things, as a friend, so that NEXT TIME they will heed my warnings, indeed.
Looking at CTIC, it appears the Distinguished Gentlemen of The PPT knocked another one out of the park. Nothing to see here; just another day at the office.
So, in summary, book profits, raise cash, but do not dare sell short.
FLY BUY: I bought 10,000 FTK @ $2.35.
FLY BUY: I bought 10,000 MWA @ $3.90
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I took some GU off and I’m looking to take 20% off into a few heavier names.
I like that ” Swap Out”
Took a bunch of RFMD off @ 2.98
Perma-bear takes a shot at flying a fighter – and covers a little too late…
http://i.gizmodo.com/5177025/combat-pilots-ejecting-after-aircraft-crash
Just bought 4000 EXEL @ 5.14
Heads up on DVAX possible huge breakout if there’s a big enough leak on HEPLISAV news.
$1.47
FSYS could make a move over 23 in last 45 mins. IMO
CTIC is still running up.
I sold my entire position in FCX…up 21% in less than 5 days with no pullbacks…
I will keep AMZN, AMD though…
We go down slightly tomorrow….most of the times after a large gap up, market gives up some gains the next day…my bet is that commodities sell off a bit tomorrow after the huge run-up.
Amazingly, the VIX is actually up today and financials are not participating in this rally.
We have ALOT of data coming out this week, I would agree with the Fly to err on the conservative side and raise some cash.
Finally CROX behaving
Am I losing my mind, or did I not publish this over two hours ago??
A dillar a dollar, A two o’clock scholar…
Definitely picked the wrong day to give up the laudanum drops.
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Hey Fly, what happened to your comments section on the right, ovah heah?
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Took 100% of my FTK off @ 2.44
look to re enter