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
20,795 Blog Posts

Moving To Cash Again — This Market Wants to Roll Over

Good morning lads.

I took in the following bounty this morning, during my opening tick fishing.

BBIO +11.1%
ANAB +3.54%
EIDX – wash
SCPL +1.6%
SGMO +3.3%
EXAS +1%

No big deal, just a little fish in the morning to sup on. I am now presently in 70% cash; but I did buy one stock this morning. Naturally the bulk of my money or 75% of it is invested in a Quant — which is 100% long, so bear in mind when I tell you that my trading account is flexible and quick or hedge or short for a reason — mostly to mitigate for the exposure in the Quant.

Early going I like nothing on the momentum side.

UPDATE: I sold SAGE for a morning day trade, +15%

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  1. mad marsupial

    That picture is hideous. Who is that?

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  2. numbersgame

    Everyone knows that Trump needs the economy to stay steady to have a cahnce at re=ecltion, and that in turn depends on a Chian trade deal. So of course, there are weekly rumors of being close to a trade deal. China has been playign alog, becuae they want a trade deal as well and they figured that saying a trade deal was close put pressure on Trump to fulfill it..

    However, it has been increasingly obvious that the *rumor* of a trade deal has been really all that Trump needed for the markets to be happy, and while trade deals are hard, rumors are easy. In a situation where doom and gloom (see Tuesday) messages on trade don’t even lead to a 1% loss near ATH, there is no point in actaully getting a trade deal from Trump’s point of view. However, while Trump benefits from trade deal rumors, China does not.
    As a result, China is no longer giving the US a free ride on rumors:

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