Wednesday, August 31, 2016
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
13,881 Blog Posts

Raising Cash Levels Again

I sold off more of XON, lowering it to a standard sized position. It was my largest holding and extremely overweight. I also sold out of CNQR for a 2.5% loss. It appears momo stocks are receiving the hammer of death again. I have no interest in holding through another maelstrom of IT hatred.

With these sales, along with last week’s sales, my cash position is about 25%.

Very few stocks look attractive this morning. I will bide my time and choose my next moves very carefully.

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3 comments

  1. jules

    Will you entertain the QQQ’s or IWM if we get an OS reading soon?