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
23,455 Blog Posts

Sold Non-Core Positions

I sold CXO, booking just a 5% gain. I squandered an opportunity to book 10%, so I drew a line in the sand here, closing out the position. I am sure it will trade higher, eventually. For now, I am out.

In addition, I sold GPRE, OPEN and ONVO, all for a profit.

With the proceeds, for now, I will leave them in cash, in order to “better enjoy” my “vacation.” When I get back up north again, I will redeploy the capital in earnest. For now, seeing the market weak again, I am 35% cash.

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40 comments

  1. Ray Donovan

    IMMR?? still holding??

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    • Freebie

      Join the PPT if you want to see Flys holdings.

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      • Ray Donovan

        are you his lawyer or accountant?? if not, then please remain in your seat and act like a gentleman. If the good Doctor doesnt want to respond he wont. I am aware of the PPT. Thank you for your cooperation

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        • Marack Obama

          PPT is far superior to your method of masturbating onto the computer screen and using that as tea leaves to gauge momentum in the markets.

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    • The Fly

      Core position, yes

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  2. Flyaway18

    I was thinking about getting to 50 percent cash soon. However, I am eyeing PEIX here, does anyone have any thoughts about this spec? I have also been watching a real dog, BIOF, which tanked after earnings today, because I think it might be buyout material. PEIX has made an incredible run but it looks like a decent entry for a long.

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  3. Cryptic decoder

    Good morn Mr Donovan. Pleasure to have a gent posting here!

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  4. UncleBuccs

    There’s a certain shame to being labeled a ‘cheapskate’ by an entity named Freebie…Mr. Donovan, you’ve been de-pantsed..

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  5. Cryptic decoder

    It is my understanding Fly sold off 30 pct of IMMR just prior to earnings and soon repurchased said shares afterward. I myself am accumulating the stock as I believe it is a “double” in the parlance of the street, perhaps by Xmas?

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  6. UncleBuccs

    Mr. Donovan, I’m fashioning a whiskey barrel & suspenders for you, as we speak. You’re a good sport…I respect that.

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  7. J Livermore

    Jaysus is this market dead today.

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  8. Ray Donovan

    AAPL doing the 5 hundy!

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    • Jakegint

      It will be interesting to see how many hedgies and “Celebrity” PM’s will follow Icahn’s lead in “tweeting” themselves to a $50mm one day pick up?

      ______________

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  9. Jakegint

    Then there’s this from Dan Primack’s Term Sheet, which I highly recommend, btw:

    “Carl Icahn made major tech waves yesterday by tweeting that he has acquired a “large position” in Apple, and that he had talked to Apple CEO about doing a larger buyback. I’ll assume that Icahn still holds the aforementioned position — shares spiked on his tweet — but how long until there is a pump-and-dump lawsuit based on tweets?”

    ______

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  10. Ray Donovan

    fucking haptic!!! grrrrrrr

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    • flyaway18

      Good grief Ray, stocks go up and down, patience. If you’re worried then you own too much of it or haven’t defined your risk.

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  11. razorsedge

    today was great for me. thanks for askin. ya know my position….

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  12. gatorsun

    get back into the coal mine

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  13. Jane Stevens

    Where is Kong ?? I so appreciated the macro as opposed to this ……… ?? Do you really have any actual information for us ?? Seriously !!

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  14. dashover

    I could use a second helping of water and grass right now!

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