The inefficiencies of the market place are working their way to the surface this week, or so it seems to my eyes. I want fresh cash ready to deploy into the market so I used this morning’s strength to toss out some old names and make way for new.
I closed out my TPX long near $40. I thought it best to avoid staring at this gift horse for too long. I lost 9 percent on the trade. Not too shabby. I like when I get excited about a loss, it means big wins are near.
I closed my EXK runner out too. The USA dollar was ripping overnight and I’m not trying to get fancy. The runner was still 4 percent in the profit so I cashed it out.
I cut AMBA, I’m not liking what the tea leaves are showing:
I planned on selling GTAT and OCZ this morning too, but after hesitating a brief moment they’re both back in the slop trough with other opportunities.
These sales brought my cash up to 50 percent. I may miss a big blow off move on the Fed this afternoon, but should we see a downdraft I’ll be more prepared to pounce.If you enjoy the content at iBankCoin, please follow us on Twitter