iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,788 Blog Posts

Sipping From My Cup

I was not actively trading the /ES today, but my algo was able to take two trades.  One earned 1.75 handles and the other was breakeven.

My portfolio had a very strong day today, up nearly three percent and putting me back near my high watermark of the year.  I’ve been trading my butt off to finance these investments in RVLT and CREE.  As a result, when RVLT and CREE go up, I have big days.

Let’s discuss RVLT a bit.  If we consider the sentiment chart idea, we find ourselves within the panic bounce.  To me this means any rally we see over the next few days/weeks is likely to fail.  How do you like that?  I’m telling you right now that my largest position is involved in a failed rally.  And that’s okay because my timeframe on this position is multi-year.  Let’s hope I’m correct so we can have better opportunities to buy even more shares.  Another anecdotal piece of evidence calling this rally into question is one of its origins: a {cringe} Seeking Alpha report.  The bozos at SA (as the hipsters call them) were greased to help somebody get out of a seriously underwater position.  This is just a theory, but their track record is eroding though the diligent work of iBankCoin Chief Market Strategist “The Fly”.  It puts a foul stink on the whole move.  If it wasn’t a pleasant twenty percent pressure release valve I would be even more ornery.

However, CREE reported they have retrofitted the NASA headquarters and done so quite successfully.  Hmm, Cree really knows how to land the big fish, yes?  Wrong!  The biggest fish tend to be the wisest fish—having survived years of fishing and boat propellers.  If/when these gigantic fish encounter a situation where their lighting is called into question, the data will unequivocally point them in the direction of LEDs.  Any entity that weighs the financial impact of any business decision will see the cost benefit of retrofitting their existing light structure with LEDs.  And CREE, RVLT, OESX, AIXG, RBCN, and GTAT will benefit.  Look at GTAT…shorts better pray to their demon lords that sadistic seven holds as resistance.  Otherwise the light, the good, shall prevail.

Other big winners today were TRLA, CLF, and END.  Readers, I’ve been clear with my calls.  It’s up to you to wrap risk around them.  I scaled a small piece of TRLA off because I take profit when the markets giveth.

My SKF has gone red by about three percent.  Tomorrow it comes to an interesting fork in the road where I’ll either buy more, do nothing, or scratch the trade.  I was hesitant to add to the position today when the SPY absolutely refused to roll over.  Checking back in just now, it appears it did manage to roll, BARELY.  Until I see more confirmation, I’m not loving this trade.

END needs to rip, I mean, come’on now, we’ve been flirting with the idea of going all the way for weeks. Why not get past this game of just the tip as @chessNwine often references?  I think we do, hence why I haven’t scaled any off yet.

CLF is tricky.  It has been dead money for so long and now it shows signs of life.  Do we trust it?  Or do we take our six percent and dump this cheap trick?  TBD

In closing, I kicked my cash up to 25 percent and could like to see some market weakness to buy my favorite stocks sitting on my wish list—names like Z, SFM, GOGO, AMBA, ADHD, and VPCO.

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3 comments

  1. From Gorby

    Took a bit of the $OESX

    CHEERS

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  2. Sooz

    http://youtu.be/sWt4Hz1KGcQ

    post here as I’m unable to post on Fly(?)

    smooth move there..
    ;))

    *no [email protected]

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