Time to talk my book! I had a number of plays on my watch list these last two weeks, yet I have only made a couple purchases during this pullback. My last post here was on Sept. 24 – for that I apologize. As a number of astute traders and gentlemen throughout the inner halls of iBC say, “I was too busy banking coin, living the life of a distinguished gentleman.” To be honest, I was not partaking in the life of a gentleman — though, I was banking the shit out of coin.
As of my last post I had just recently BOT two utility plays and was looking at two potential longs, that is — $AEP $OKE (utilities) as well as $SBAC $TWTC (potential longs). I BOT both $SBAC $TWTC and will continue to hold all four of these lovely plays, watching for a secondary breakout in all names. All my current holdings are flagging high and tight close to 52 week highs. As for $SBAC and $TWTC — both are higher than my entry points (see PPT notes for all my buys. For those individuals who are too stubborn and frivolous to join iBC, my buys were 61.92 and 26.20) and continue to look like they will BTFO soon. I’m looking for at least 10% on $SBAC from my entry, $TWTC is also in buyout talks with $CTL, which should result in a move to the 30s in that name.
This last week I also BOT $WMT $PVH $SHW and continue to hold $PM as well as $COST. 72% of my cash is tied up into these nine names and I am looking to allocate the rest of my capital this week – especially with the $DJT improving.
