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
23,434 Blog Posts

Waiting for the Dip

I got my chips ready. Now I am simply waiting for the dip (pun intended).

I just sold out of EXK and GORO, in order to raise more cash. It should be in the 70% range by now. I am eyeballing a few precious metal stocks. Other than that, I have little interest in buying up here. My year to date gains are +12% and I intend to lift them to 20%+ on the next series of trades.

You probably cannot fathom the amount of cash I am sitting on. Should you be short WNR, I am your worst nightmare, as I intend to catch any dip that presents itself. You mustn’t go about your business as if your head was stuck in a trombone anymore. The time is now to outmaneuver thy neighbor and toss garbage on his bullshit lawn.

I still long TZA and VMW calls in my personal. They have a way of balancing each other out. And, I own ETFC, even though it’s a piece of dog shit.

If you enjoy the content at iBankCoin, please follow us on Twitter

14 comments

  1. Trading Nymph

    This Monkey is still playing her accordian to the downside, even with that crazy historical rally last week. IMHO if this market continues to sell of (which it should), I will be amused how the pros took it just high enough last week to pull in all the trend players who got a “break out” signal to enter and shake out all the weak shorts…we will see.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • razorsedge

      greese is still a heavy here, spain, ireland, port…..will follow if not stoped here

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Trading Nymph

        Razor, World is messed up, but you know my focus is copper and China…last night I went thru all the LME copper analysis to see if I was missing anything after that killer rally last week, nope, nothing has changed. Everyone has all the chips on a better second half and ain’t there imho.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  2. Juiceyfruit

    Yo!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. jimmy_two_times
    jimmy_two_times

    eggs benny for breaky today?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. The_Real_Hmmm

    Bought some SLV weekly calls. Let’s see how the rest of the employment data and sovereign credit bullshit plays out this week.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. hitter

    CLF?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. JTU

    BORN up over 20% today!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. go2mars

    Short airlines.

    http://www.abc.net.au/news/stories/2011/07/06/3262975.htm

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. panamaorange

    VXX is up 2% ,despite Dow being green.Expecting this to occur several more times next few weeks.Too many sectors battling each other

    You never want to hold VXX for more than a few weeks. But, it looks like these could be those weeks.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. Quint

    I think you are going to be waiting a long time for that dip.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • yxd0018

      quint, what’s your rational? This short squeez is too fast too big, isn’t it?

      • 0
      • 0
      • 0 Deem this to be "Fake News"