I am again selling down positions here, and have yet to add any new positions. I want to get liquid and build a heavy cash position, so I can see the market objectively and be ready for the next move.
My largest holding is still $GOOG, and I still hold positions in $PWER, $ETFC, $VZ, $YGE, $ATPG, $RIG, $TZA, $FAZ and a few others, my cash position is near 50% and I will likely be selling more into the bell.
If I had to give you a top pick here it would be $VXX, volatility is cheap.
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Brilliantly played. Keep going with your instincts. You have a gift.
Thanks Fly, you have a big imprint in my success.
Congrats on all your trades. Inspiring stuff! Took BIDU and JASO with you! So thanks for that!
Nice. That’s what I’ve been doing yesterday afternoon and this morning. Taking pieces, moving stops. And a quick $DRN scalp. See: http://twitter.com/bushmantrades $9 $JASO would be pleasant.
RC…I am finally getting back into trading now that work has slowed a bit. Thanks for GOOG, missed JASO. Nice PEIX trade, too. I agree, you do have a gift and I have banked some coin by following you the most here and inside the PPT. Keep up the great work…Jim
Nice work RC! GOOG is one I should have gone on board with…was thinking about it the past 2 months. However, VZ was a 2nd largest holding a month ago, now it’s just a blip in the port…looking to get in lower ($29-30) if it will let me.
Great calls, keep it up!
When you said volatility is cheap a light came on. Helped me connect some dots. Rubbed some VXX on.
Nice job.
i did too.been watching that since the fly been gettin ulcers.looked at it this morning,forgot about it,then read your pick and it reminded me.pulled the trigger right before close @16.73.not into etf’s much but wtf.still dont believe in this rally.
besides,have you seen the ops chain on vxx take a look at nov. at the 18 strike. i usually dont buy anything without first looking at its chain. front month,to all the way out. just todays volume is killer.
Congrats RC
re vxx, today the vix was up 3.95 % and vxx was up 0.36 %
so did vxx realtively speaking get even cheaper today ?
since except for a day or two trade in the 19s, i’ve been on the bench since before joining ppt and last sold at a loss @ 42 or so…
so my questions are why is vxx and volatility cheap now, and do you have a target on it at all ?
thanks !!