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
19,617 Blog Posts

Cleaned Out — Starting Anew

Over the past few weeks I’ve accumulated a bunch of stocks that, at the time, looked great. But today, not so much. I took losses on almost all of these stocks — some very small, some decent sized. I could’ve held them, stubbornly, or averaged down in them to rescue a losing trade — but I opted to sell them — because if I’m not willing to own them now as a new position — then I shouldn’t own them at all.

sold $HCLP, $SLCA, $CPE, $BE, $SPOT, $TUSK, $IPHI

This raises my cash position to about 35% in my trading account. Being that the market is consolidating and going through some indecision now, I’ll probably hold that cash for another day or two before figuring out how to strike next.

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7 comments

  1. edge

    I see garden variety jitters over earnings and GDP numbers.
    Currently holding SOXL, GUSH, TQQQ, UPRO, and a small OSTK for the short squeeze potential.
    Also a 2.5% position in Dec 2021 SPY puts.

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  2. numbersgame

    Fly, 35% doesn’t really seem like cleaned out… are you long TSLA or something?

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  3. teslawasright

    Does the Le Fly own the proper churchwarden pipe for his southern affairs?

    https://www.amazon.com/gp/product/B075DGYW5Z/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1

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