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
17,843 Blog Posts

MAKING LATERAL MOVES — BOOKING PROFITS SON

The most annoying stock broker I ever worked with used to say he was making ‘lateral moves’ when blowing out of one position and into another. Therefore, I am deploying his annoyance here for you to enjoy as much as I did.

I blew out of OLED for +7 and OSTK +2, both purchased on Friday.

With the proceeds, I bought the absolutely demolished shares of KODK and BITA — both shit of the purest qualities. I bought both for profit, not for pleasure.

As an aside, I find it humorous and alarming that TZA is up with the market hot like this. Perhaps a tell? We shall see.

In the interim, I am positioned to win either way. You can never derail my efforts or defeat me — for you are of a much lower caliber and quality.

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9 comments

  1. ironturd

    Blogging is just so therapeutic don’t you think

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  2. paradox

    Something worth watching is that tomorrow (Tuesday) is the last trading day for front month VIX futures. This is usually a market moving event even in a normal month, hard to think it won’t be a big deal this one give where the contagion started.

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  3. joyous__ending

    Plenty of opportunities out there if you wait for the extremes, like a -400, -500, +400 day.
    Market will slosh around for a few more weeks..more?. Too many folks on shows like Fast Money say wait for this level, we will go to new lows, blah, blah. Don’t get frozen by CNBC types.
    Even if we go below Friday lows, you still have to step in and take action when the market hands you a green light.

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    • Lyndon Keltner

      The best kind of market. Especially in bond futs. Also well short NQ overnight and booked profits with profit target orders. Absolutely lovin this.

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  4. ferd

    You embarrassed the Russell back into form.

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  5. dragun

    Its been a while since the all to familiar lateral move has been employed.

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  6. the dude

    Kept the OLED. Bought the BITA.
    Crypto free so nada on the other ones.

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  7. roundwego

    Small caps are more vulnerable to rates. China ppt caused the bounce but they will not pump only damage control. So down will resume especially as 10yr nears 3%

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