Anyway, the market has weak undertones to it, especially in banks and industrials. Big chemical stocks are taking a breather, allowing for decent entry points. I sold some TQNT, in order to make room for GMXR. At the moment, I have a 25% cash position and 8% long VXX. My year to date gains are about 18-19%. Should the market tank here, I am pretty exposed to the downside. However, in that event, I will quickly deploy my cash to the FAZmobile, AND MORE. Just kidding.
Make no mistake, this market is super-duper stretched. Now is not the time to be levering up. Instead, you should be winding down positions, before the misfit on the teevee start scaring people out of the markets with their “go away in May” market hit pieces.
Nevertheless, I like FTK on this decline and CGA on this mini-spike. Longer term, I like my chances in EMN, AES, JCI and PKX.
The Fly is God!
Bro, it’s get really old and it’s kinda gay to read this EVERY damn post.
BANKING COIN HERE
http://ibankcoin.com/henry_fool/
For some reason I have been unable to access ibankcoin. Fly, did the site go down for a little while? Anyway at the open I bought some June 140 GS puts. Up 50% right now on the position. Was going to short the stock out right but it didn’t fit in with my position sizing system.
Bought more ISLN even though it is at its high. Staying on the trend. Tight trailing stop to protect my huge gains. Yes I know it is counter intuitive, but I am contrary and I buy high and sell short low. Its worked for me. No one can call the top or bottom, but once the trend breaks through my set parameters I am out
Who may I speak to in order to collect the 40 points I am due today?
Bloomberg headline “Stocks valuations cheapest since 1990”, which I took as my signal sell out.