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Tag Archives: $RGR

This is a Lovely Room of Death

AceVentura

Guys, there must be down days.  And when we’re in the stratosphere, atop the treacherous K2, guided by our Sherpa—gentleman Ben—and a group of extorting Sherpa come and kick your pack mule down the mountain and demand monies…there’s going to be some casualties.  You may need to hunker down low and take some hits.  You need to be ready to sweep the leg.

As traders, we’re paid to take daily beatings from the market.  It hardens you.  HDGE was my worse loss of the year, trimming a cool three percent off my high water mark.  Guess what?  I crested my portfolio over that mark since then, and now I’m off my new peak by two percent.  It happens fast.   You have to keep your wits about you.

This may be the start of a peak-to-trough environment.  This can last weeks.  WEEKS!  Oh the humanity.  But before we can say that with any kind of confidence we need to see price acceptance below TWO, you heard me right TWO major areas of balance which are way above where this market could pull back and still be considered VERY constructive.

I’ll look at the primary and most actionable balance distribution in the morning.

These Stocks:

I booked some winners that were lingering, some losers that were fingering, and some scratches that were carrying curious implications.

YELP was cut early.  It was crowded, that’s how crowded flag breakdowns play out.

RGR was an early sale too.  I caught the swing low, it’s been dead fish forever, when that first crazy sell frenzy happened in the spooz this morning I booked it.

I sold JRCC as it butted up against resistance.  The Plan says I must sell logical price levels, even if it’s my last piece.  I can always buy it back at a better price, at least that’s my mentality.

I booked GS because the devil’s been shorting it, I had 6 percent plus gains, and the daily candle looked nasty.  Financials have been a big driver of this move, we could rotate out of them and still see the tape flat/higher.

I sold SCTY late afternoon, after adding to my position early.  Net-net I make over 10 percent playing this crack rock.  Awesome, except it was good for over 20 percent at one point.  A win is a win, I suppose.

I added to my CREE investment.  They’re a great company.  Remember, this is a multi-quarter hold after booking massive gains in the name trading style Q1.  I’m wearing my investor hat on this one.  That being said, it also printed a nasty daily candle.

I caught the breakout in IMMR early.  It’s this type of aggression that allows me to not experience much emotion when the breakout sputters out like this one did.  It has Fly power behind it, so I’m giving it room.

Bottom line: you’re surrounded by algorithms wielding meat cleavers, protect your neck with profit scales and stop losses.  My cash pushed way up into the bell, damn near 50 percent.  I don’t like lazy cash so I’ll be hunting tonight.

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That.Was.Awsome

These morning markets, I come to them every morning.  Much like The Zen Hunter alluded to about surfers, it’s an obsession—every day hunting waves to ride.

I put up these profiles, looking for where the waves can kick up.  Boy did a wave kick up today!  I have wins on both the long and the short side, easily my best day ever, earning 10 S&P points.  It was fun too.  And I stuck to the plan all but once.  My one deviation, an attempt to knife catch that free fall, was my only loss on the day.  So be it.  Stick to the plan or lose money.

Anyhow, that’s why we do all this work, for days like today.  They’re calling this the blow off top already.  I’ll hold my judgment for now, but I did cut my RGR and YELP longs in case the afternoon gets a little Nightmare on Elm Street.

Let’s look at these stocks and see what’s working.

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The Stocks: They Want Higher

Sometimes you have to let a trade effervesce, gently bubbling higher.  Such is the case with LOCK, apparently.

Other times you give the trade room, and only offer it your left hand.  This is how I’m getting back into my good friend RGLD, our favorite Senator’s mining situation.

Then there’s downright degeneracy, demanding nothing but instant gratification because well, you’re a degenerate and want it NOW!  If you bought SCTY this afternoon and didn’t have this mentality, I tip my hat to you and your courage.

Let me be frank for a moment.  This has been a fantastic, albeit slightly frantic, day for the bulls and America in general.  These markets are enfuego, IN MAY.  I really hope portfolio managers took their stupid axiom to heart and missed all this capital appreciation.  For I hate them, mostly.

Raul worked in the financial services industry once.  Let’s just say there wasn’t enough trading, if you know what I mean.

My happy place is buying and selling things, all the time, like one of those Pawn Star folk.

Into the weekend, my cash is down to 30 percent.

I’ve put a shit ton of longs on, more than I can properly manage.  This weekend, I’ll be ranking these and consolidating them down.  But as it stands, here’s the look, by size:

Trades: FB, ANGI, SCTY, JRCC, RGLD, GS, HAIN, LOCK, RGR

Investments: SAM, CREE, AAPL, AWK

If you follow along on the Twitter you’ve seen these things come on, you’ve seen me scaling them down, and now I bid you adieu.  I’m off to fillet and eat one of my minons.

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We Can’t Go Up Every Day, But I’m Long Tons of Names in Case We Do

The market is digesting the gains bulls achieved earlier in the week with a consolidation today.  There isn’t a doubt in my mind that we’re overbought here.  But we simply haven’t seen any high volume distribution.  It’s just one rotation after another from extended stocks to the ones setup below.

I’m putting money in several names, looking to catch the next rotation.  I’ll be honest.  I don’t know where it will be.  My two primary rotational plays are LOCK and JRCC.  Lock is up over 10 percent this month but hasn’t pumped alongside the overall market this week.  JRCC is coal, so who the hell knows if it will catch a solid bid?

HAIN keeps marching ahead and I’m giving it space, but may take another scale soon.  I can’t resist booking gains.  The downside is I wind up with little fragments of runners in my books.  Current runner fragments include FB ANGI GS and RGR.  I’m considering adding to FB and RGR, but not ANGI up here.

My long term plays are AAPL AWK CREE and SAM.

My dog today is JOEZ jeans.  It needs to shape up soon or I’m cutting.

Cash is dwindling, down to 38 percent.

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