I once mentioned a guy I used to know who’d say “I am making lateral moves.” I thought it was one of the dumbest things a person could ever say, at the same time be hilarious. I’ve adopted this verbiage as my own and share it with you now.
This is going to come across as controversial. Then again, see if I care.
I sold out of XON, JAZZ, HBI and SLCA–my favorite positions, for 33%, 5%, 3% and 6% gains. I did this because the market isn’t buying them today, a day when 80% of stocks are higher. These are drastic moves, but it’s coming from a drastic man–so everything is ordinary, as a matter of fact.
Plainly, the market is buying trash today: FEYE, CRCM, SPLK–they’re all up. If we head into a rotation, out of good stocks back into garbagio, I’d rather not partake in it. I have a lot of ground to make up and feel by going to 50% cash on a day that feels like a blow off top, I am ahead of the curve.
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First!!!!!!
so we say hello to new leadership in the morning, and then walk them out the door and execute them in the afternoon?
Matt
I am down 26% for the year and need to be right on possible inflection points. If I was up, I’d keep them.
You can always sleep easier with cash.
Fly, I don’t know if some of your readers get that there is a huge difference between trading your own account and the weight of responsibility that comes w managing OPM, especially when one is running in the red for the year.
you’ve made up fair amount of ground or bips in a short amount of time … no arguing with that
“Plainly, the market is buying trash today: FEYE, CRCM, SPLK–they’re all up”
George Costanza wins!
PANW tho…….
Most underrated position; cash. Respect the patience and risk mgmt. sold out of XON today as well. 9.85% tho…
For a laugh, here’s one of those amateur youtube videos on the Mid East:
https://www.youtube.com/watch?v=xsJjm5K07V0&feature=youtu.be
I think i’m only down 14% this year now. So sad.
Fly,
I’m surprised, you sold out of XON
He pocketed 30% profit in less then 2 weeks and you are surprised? I had no opportunity to trade today, but it looked to me like potential major short term resiistence was at around 24 so his timing was probably perfect.
So Draghi did give that 100 point’ish day, no big surprise there. So tired of being a bear..Yep, Junk was bought, would be nice if all this eu stuff was only good for a one day rally. China IMHO is still the key to all of this, over the last few days there has been concern over “missing copper” that was used to secure shadow bank loans. I keep shaking my head and asking, with the tapering of the fed, china slowing and mining levels pushing up strong..Which Foreign QE money will really actually want to lend to China and take Copper/commodities as security for the loans? When they don’t, the bubble pops…well at least the bubble that I only see in my imaginary world of Unicorns and Puppies.
You’re probably tired of being a bear because it doesn’t work with any regularity.
Damn, it’s been years now.
I decided to study a Bubble from the beginning in April of 2009 when copper was being imported in excess of demand in China…long study.
So the guy who makes fun of me for questioning his $SLCA buy as the next “mega trend” and calling him late to the party then sells it the next day. Amazing conviction on that mega trend Fly. Glad to see you wised up.
Wrong. You tried to corner me from the beginning. This is a mega trend and I’m sure it trades higher from here. I am not marrying any stocks so quit trying to overanalyze me
Actually you’re just a loser throwing mashed potatoes at the screen. Go away
THE FLY, the ultimate pump and dumper
Pump and dump billion dollar companies ? What do I look like, bill Ackman?
bill ackman is a little more sophisticated then that
You guys are nut jobs. He is super transparent and posts very valuable ideas. His job is to make clients money; he does this astoundingly well. Relax.
This is why some of you people suck. I am being 100% honest as I go and all you have are criticisms. Chill the fuck out. It’s not your money god damn it.
then you should not easily be offended fly, you are coming off as a neophyte with this unbecoming behavior and hostile remarks to obvious troll comments such as my own…
Fly years from now you will look back on this and question why you cared what all these people think?.. that you do not know!.. i know your above all that and do it for the people but really man trolls is gonna troll!!