Still All In
As you know, about 1 month ago, I announced that I was going “all in,” in an effort to forget about risk and bask in the glory that is the stock market. Since then, I am delighted to report, I have done quite well. As a matter of fact, my returns have been nothing less than stellar. Despite an affinity for “fad stocks” and “small winners,” “The Fly” has really throw the old wooden javelin through the old eye socket a couple dozen times since then, with wins in Sears Holdings Corporation [[SHLD]] , Green Mountain Coffee Roasters Inc. [[GMCR]] , Ctrip.com International, Ltd. (ADR) [[CTRP]] etc. I will not bore you with the details.
If you’ve noticed, from time to time, when selling stocks, I sell 90% of my position, while leaving the other 10% to sit idle and collect dust, indefinitely. I do this for a reason. To be more specific, I only do this with large positions—names that I believe in, like Green Mountain Coffee Roasters Inc. [[GMCR]] and Sears Holdings Corporation [[SHLD]] .
Let’s say, for example, I own $2 million worth of GMCR and my price targets were $80 and $100, $80 being immediate and $100 being a longer term number. Imagine that stock went up 20% inside of two shorts weeks, as unbelievable as that may seem, and I am faced with a decision: do I sell or hold? In the past, I’d hold onto the stock, thinking “hey this is great. My very own ATM machine. Instead of taking profits on this huge position of mine, I’ll go shave my balls.” But, after seeing this strategy backfire on me, one time too many, I decided to take action.
If the position is worth more than $2 million, and my immediate price target had been reached, I sell 90% of it and keep 10% (200k) until the long term target is achieved. This does two things for me: 1. I am permitted to take profits without worrying about “missing out.” 2. Because of such a quick win, I am permitted more than enough time to shave my balls, without worrying about my portfolios.
Holding a 200k position may not be very substantial for the deep pockets of big ol’ Bill Ackman; but the residual amount is still slightly meaningful enough to please little ol’ me.
The bottom line: I am still “all in” and raking coin, at the expense of you short selling bottom feeder motherfuckers.
Top picks: SandRidge Energy Inc. [[SD]] , Sociedad Quimica y Minera (ADR) [[SQM]] and Cummins Inc. [[CMI]]
NOTE: General Cable Corporation [[BGC]] is cheap.
first
Am I cold because my brain is telling me to be cold…..or is it just fucking cold out!
FIG
My affinity for shorting oil is my weakness, like cryptonite is to superman.
“Kryptonite” Superman hates the shit.
You must have read my post over @ Jake’s house or we have the same IQ:
http://ibankcoin.com/jakegint/2010/01/06/a-gas-giant-from-way-back/#comment-10728
I didn’t read shit. My IQ is higher.
A likely response ……..
Let’s not argue over little things, fellahs….
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Come on SQM, you old gal! Break on through, like Willy Wonka’s elevator!
doopidy doo
Ooompah! Loompah! Doompah, Doopety Dooooooooo!
I’ve got A-nother Riddle for yoooou!
Whom do you blame when your stock is over-
BOUGHT?
Refusing to breakout when you know that it
OUGHT?
……
The-Fly-and-all-his-miiiiiiin-ions!
Ooompah! Loompah! Doompah, Doopety Dooooooooo!
______________
What is your target for SQM?
FWIW, mine is $45 near term, then $60 then “to the mooon, Alice” (after sufficient consolidation).
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FWIW, Jake was sure that GMCR would go to $55 so he could buy it there before it rallied
SQM will go higher! Dangit!
“Sure?” C’mon.
It got below $60… they can’t all be spot on. And I’m not sure SQM won’t need to consolidate a little bit longer here, either. I’m pretty sure it’s going north, though.
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You are a class act, Jake.
I’ve been holding SQM since September; the consolidation has surely been long enough for my liking.
Well, the positive to that is… the longer the consolidation, the better the break.
That is, if the break is up.
I don’t think we’ve got much longer to find out.
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Closed over $40, my man.
That’s good, but I’d like to see it clear about 60 cents more for an actual breakout, ovah heah.
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NICE post, Teahouse.
Thnx
Thnx!
Ron Insana wrote a book titled “How to make a fortune in the biggest bailout”
http://www.amazon.com/Make-Fortune-Biggest-Bailout-History/dp/1583333649/ref=sr_1_1?ie=UTF8&s=books&qid=1262802992&sr=8-1
Didn’t his hedge fun went busto in 2008?
Everybody is writing a damn book…bubble anyone?
he ran a fund of funds, not a real hedge fund
then he was given a cushy job at DE Shaw or someone like that
then he went to Realmoney,.com
What a shameless book but it shows what Wall Street is all about… who cares about the societal impact; I got me some money to make from the raping of the middle class.
Ron Insana is one of the better ” These are the facts of the situation ” TV personalities and he
is prudently correct over the longer term.
Thanks Ron.
An epic post indeed
Despite an affinity for “fad stocks” and “small winners” – totally hilarious
Ball shaving was mentioned twice which is equally hilarious but will have to wait till 2011 to be added to the iBC dictionary.
“The bottom line: I am still “all in” and raking coin, at the expense of you short selling bottom feeder motherfuckers.”
Are there really that many short sellers here, relative to the total iBC community?
I am speaking to the world, young man.
My error.
I always read The Fly’s posts as if they were written directly to me.
Sort of like Buddha’s teachings.
No my child. Pope Fly is bigger than you. Bigger than iBC. Bigger than the world.
And bigger than Buddha.
(Which is big.)
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Amen. FIG.
Long homies.
with such conviction in GMCR, at what price do you re-load or do you move onto the next?
Go Dodgers.
ATT announced last hour, it will add Palm products first half of the year. That news surprised me.
With Pre on T, VZ and S, Palm should make some nice market share gains and the stock has some room to run. Could be a real good year for Palm’s stock.
do you think your melt-up keeps going to 11K?
uhh, thanks for the visual
LNG hits day trade sell target, $2.90 up from 2.62 this morning, 10% one day hit.
Panning for new targets…
RAME at apex of flag … direction tbd very soon … watch it.
BTU lagging otherwise red-hot coal sector, looking to catch up in late day trading?
ANO for platinum been working for me ….
Cheggout PAL. It’s psychotic.
PTM is a nice steady holding too, w. a lot more upside.
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Short article on 24/7 re: Platinum runup.
http://247wallst.com/2010/01/06/speculators-run-platinum-palladium-plays-ahead-of-etf-launch-gld-sgol-ptm-pgm-swc-pal/
ANO +17.53%
PAL +11.63%
I WIN ………
Why is it they always go psycho after I drop them from my watch list?
72 degrees here in Socal m’fers
Ahhhhh haaaates yoooooooo……
(/ Yosemite Sam Voice)
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Magnesium? Anyone? CDII
Molybdenum?
TC.
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Rhodium – gotcha – not on an exchange.
My ALY has been tearing it up…
Gambler