Category Archives: Fly Sells
Keeping My Powder Dry
I sold out of YELP and ANFI for profits and tossed the proceeds into a money market. I want to double the size of my AMBA and WETF positions and now I have the money to do it.
The prudent thing to do is wait until after the Fed news to take action, so that’s exactly what I intend to do.
FREEZE, Jive Turkeys
It looks like my FRO is getting a serious blow out today. Apparently, the other Frontline, the one that trades in Oslo, was up more than 20% today. I can only surmise good news was released.
Still checking.
UPDATE: I sold 300,000 shares of FRO. I am still holding another 900,000.
Fly Sell: $MU
Locking in a big winner here, upping cash position to 55% in the process.
Fly Buy: $IMMR, $ANFI
With the proceeds from my PAMT sale, I added to both IMMR and ANFI.
Something New to Worry About
Treasuries are getting smashed, sending yields to new highs. Since everyone is pondering when the Fed will stop QEing, rates are going up–organically. We haven’t had anything to worry about since European sovereign rates were blowing out. Well guess what?
If US rates continue to surge higher, borrowing costs will become burdensome, precipitating another credit downgrade. It’s one of those self-fulfilling prophecy thingies that we’re all so fond about.
The market is still up, but gains have been cut in half. Don’t look now, but a major panic is right around the corner if TLT continues lower.
Do yourselves a favor and get some protection, raise some cash, and DO NOT retweet this post or share it with anyone, else they’ll steal some of these ideas for themselves.
UPDATE: I sold JIVE and MT, raising cash levels to 35%.
NO TIME FOR LOOSERS [sic]
I sold out of my CZR for a 5% loss. There is no point in holding onto a trade acting retarded, when there are 100 other names going up as we speak.
Fly Sell: $SOL
I booked profits on SOL.
Fly Sell: $YGE
I sold out of YGE, +20%.
Stopped Out of $VHC
I sold out of VHC for a 3% ding.
For now, the proceeds will remain in cash. However, I am tempted to buy a certain solar name with them.
Fly Sell: $JRCC
I booked profits on JRCC.
