Sales – Stopped Well Shy At 3% Cash

I couldn’t bring myself to sell all the way to 20% cash. The waterfall left too many of my purchases underwater still and the hope of follow through pins me to my seat.

But I took quick profits in HCLP, VOC, BAS, and SXCP (I still own all four names, I just pared down sizing) ranging from 5-12%, and then I completely sold my BTU position for a 22% loss. That will lower the tax bill. I like BTU but it’s time to start thinking of April.

Despite having little cash, this lowers my risk profile substantially. The margin was worth it and if the oil and gas space has any sort of meaningful follow through, I’ll be back at new highs by Thanksgiving.

Gobble gobble.

A Difficult Decision – Back To 20% Cash

Here I find myself, anxiously pacing up and down the width of the 9th floor in ferocious concentration on the ground just in front of my stepping feet.

What to do?

I have made almost 7% in one day, putting me back in the black for the year. My timing could hardly have been any better.

In August, animosity led me to sell down my longs to a 45% cash position, at the highs of the market. The oil names that were so mercilessly cut down; I had escaped them in sublime manner. Not that I was spared. I watched in shock as a 20%+ year devolved into a small loss. Rather, what marked this as exceptional was the losses I avoided.

I began to buy back what I had sold, and more…

I soon found myself holding a 115% long position on margin. I will not try and hide from you that I was beginning to get most nervous this morning, when the clamor was loudest and the fear the most potent.

So what do I do now? I can hardly exclaim victory – I’m 20% shy even from an acceptable sigh of relief.

Today was a big move. But I remain worried. The EURUSD is stuck at 1.28. Europe is the hidden driver of this selloff; not ebola or white noise in Fed data.

We could continue much higher. Or, I could be savagely knifed and lose my year entirely.

I think that settles it. I am raising cash back to 20% by taking profits on the names I bought at the lows, and completely selling off BTU for tax loss write offs.

I’m Up 6.6% For The Day (And Counting)

Yeah, like I said, there really wasn’t any reason to be selling those oil stocks.

You were had, son.

HCLP +11.2%
BAS + 7.3%
VOC + 5.5%
BTU + 5.0%
SXCP + 4.5%
ETP + 4.0%
NADL + 2.0%

You Always Take The Blue Pill

Let’s get something out of the way.

Yes, this is all an illusion. But why should that matter?

So what that the entire structure of the market right now is fake? That without rigging the system, we would be much lower? Why should I let that get in the way?

The things I’m going to buy with all these gains are going to feel real enough.

I hate to break this to you pal, but life is an illusion. What, you were attached to this nonsense? Birth. Death. It’s all a veil of deception.

And when, long in the distance, this raindrop of a Universe we’re trapped in smacks the pavement and contorts itself into a Gödel Space and wakes the dead, this is all going to look pretty stupid. But for the moment, rather than “Zerohedging” myself into hyper-analyzing micro-variations of white noise in Fed data, I’m going to embrace the illusion.

Because the reality sucks, champ.

Added More NADL For $5.43

Nice close, that.

Around 2 p.m., I added more NADL for $5.43. I posted inside The PPT but didn’t have time to get out here. Of course, NADL did not enjoy the relief rally, so no harm no foul.

More Adds To VOC and SXCP

I added a couple more percent into VOC for $9.94 and SXCP for $24.80.

Margin balance is about 112% and I am now down for the year.

I know, I am breaking every rule you think you know. Let us agree that you do not understand me and I am apathetic towards yourself. Shall we?

Sales – Stopped Well Shy At 3% Cash

I couldn’t bring myself to sell all the way to 20% cash. The waterfall left too many of my purchases underwater still and the hope of follow through pins me to my seat.

But I took quick profits in HCLP, VOC, BAS, and SXCP (I still own all four names, I just pared down sizing) ranging from 5-12%, and then I completely sold my BTU position for a 22% loss. That will lower the tax bill. I like BTU but it’s time to start thinking of April.

Despite having little cash, this lowers my risk profile substantially. The margin was worth it and if the oil and gas space has any sort of meaningful follow through, I’ll be back at new highs by Thanksgiving.

Gobble gobble.

A Difficult Decision – Back To 20% Cash

Here I find myself, anxiously pacing up and down the width of the 9th floor in ferocious concentration on the ground just in front of my stepping feet.

What to do?

I have made almost 7% in one day, putting me back in the black for the year. My timing could hardly have been any better.

In August, animosity led me to sell down my longs to a 45% cash position, at the highs of the market. The oil names that were so mercilessly cut down; I had escaped them in sublime manner. Not that I was spared. I watched in shock as a 20%+ year devolved into a small loss. Rather, what marked this as exceptional was the losses I avoided.

I began to buy back what I had sold, and more…

I soon found myself holding a 115% long position on margin. I will not try and hide from you that I was beginning to get most nervous this morning, when the clamor was loudest and the fear the most potent.

So what do I do now? I can hardly exclaim victory – I’m 20% shy even from an acceptable sigh of relief.

Today was a big move. But I remain worried. The EURUSD is stuck at 1.28. Europe is the hidden driver of this selloff; not ebola or white noise in Fed data.

We could continue much higher. Or, I could be savagely knifed and lose my year entirely.

I think that settles it. I am raising cash back to 20% by taking profits on the names I bought at the lows, and completely selling off BTU for tax loss write offs.

I’m Up 6.6% For The Day (And Counting)

Yeah, like I said, there really wasn’t any reason to be selling those oil stocks.

You were had, son.

HCLP +11.2%
BAS + 7.3%
VOC + 5.5%
BTU + 5.0%
SXCP + 4.5%
ETP + 4.0%
NADL + 2.0%

You Always Take The Blue Pill

Let’s get something out of the way.

Yes, this is all an illusion. But why should that matter?

So what that the entire structure of the market right now is fake? That without rigging the system, we would be much lower? Why should I let that get in the way?

The things I’m going to buy with all these gains are going to feel real enough.

I hate to break this to you pal, but life is an illusion. What, you were attached to this nonsense? Birth. Death. It’s all a veil of deception.

And when, long in the distance, this raindrop of a Universe we’re trapped in smacks the pavement and contorts itself into a Gödel Space and wakes the dead, this is all going to look pretty stupid. But for the moment, rather than “Zerohedging” myself into hyper-analyzing micro-variations of white noise in Fed data, I’m going to embrace the illusion.

Because the reality sucks, champ.

Added More NADL For $5.43

Nice close, that.

Around 2 p.m., I added more NADL for $5.43. I posted inside The PPT but didn’t have time to get out here. Of course, NADL did not enjoy the relief rally, so no harm no foul.

More Adds To VOC and SXCP

I added a couple more percent into VOC for $9.94 and SXCP for $24.80.

Margin balance is about 112% and I am now down for the year.

I know, I am breaking every rule you think you know. Let us agree that you do not understand me and I am apathetic towards yourself. Shall we?

2014 iBankCoin Investors Conference