Let me start by saying I am not thrilled with the action in the S&P 500. I was discussing this with one of my most distinguished readers, gentleman UncleBuccs. My chart brain sees lower prices in store before news highs are achieved.
So I did what any responsible person would do when confronted with these “facts” …I bought stocks.
I still have some cash on the books, about 25% which is about the highest my cash has been this year. But I have a huge position in RVLT, a huge position in ONVO, and a huge position in CREE. My next largest position is USO because I think oil is just going to surprise everyone and rip tits into year end, taxing the tight wad consumer before x-mas.
Everything else is ¾ size or smaller: LO, Z, GOGO
Then my slow money: F and O
Then a tiny IMMR I keep for sport and this stupid MJNA long—down 20% waiting for a pop to sell into. It will come. It is a matter of time not will.
I traded the futures less this week, especially after I got gang banged by algorithms Tuesday. I took a conservative trade in the /ES yesterday that worked out well. Today, that same conservative nature caused me to miss an idea I mapped out very well. Oh well, there is always next week. /NQ is looking promising as anything I have ever seen—both on a discretionary and algorithmic basis.
About this time every week I am overcome with a huge feeling of gratefulness. Thank you for reading along. I love this work and interacting with my internet people. Have a great weekend.If you enjoy the content at iBankCoin, please follow us on Twitter