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Trading with The Fly

Dr. Fly
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,468 Blog Posts

Kicking Grandpa to the Curb

Dr. Fly Wed May 9, 2012 10:45am EST 17 Comments

Stocks have gotten cheap enough for me to justify selling out of some grandpa stocks to buy some miners.

I sold out of 75% of KMB, LNCE, ABV, PEP, WM, GIS and bought size in EXK and AG.

My cash position is 25%.

UPDATE: added to WNR

UPDATE II: bought MTW

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17 comments

  1. MetalLeg
    MetalLeg
    May 9, 2012 at 10:51 am

    Miners starting to show some strength in the midst of the mayhem. Even PAL is up today (no wife).

    Bernanke can’t let the market fall too much further so we might have seen the worst.

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  2. Greg
    Greg
    May 9, 2012 at 10:53 am

    You still holding YELP?

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  3. Mr. Partridge
    Mr. Partridge
    May 9, 2012 at 11:10 am

    Buying PM miners

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  4. Blind Read Ant
    Blind Read Ant
    May 9, 2012 at 11:11 am

    If you want “the feel” of what the US of A was like in the 19th century “congress”, check:

    http://www.europarl.europa.eu/sed/video.do?vl=en

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  5. Mr. Cain Thaler
    Mr. Cain Thaler
    May 9, 2012 at 11:12 am

    Europe’s closed!

    Fucking RALLY TIME people. Just remember to close out your positions before end of day.

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  6. xxxHuggieBearxxx
    xxxHuggieBearxxx
    May 9, 2012 at 11:15 am

    Holy shit, i might be saved.

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    • xxxHuggieBearxxx
      xxxHuggieBearxxx
      May 9, 2012 at 11:20 am

      I just need gold to bounce green and GDX might end up 5%

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  7. hitter
    hitter
    May 9, 2012 at 11:35 am

    WNR over DK?

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  8. Bobby Boucher
    Bobby Boucher
    May 9, 2012 at 11:35 am

    Fly, I am an admirer of your $100 roll strategy. It’s very JL-like.

    Question; have you ever looked at it in reverse? For example, buying puts or selling calls on Apple when it was above $600 would have been a nice way to either bank some premium or take a quick 60+ points on the option position.

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  9. Freddy Fishsticks
    Freddy Fishsticks
    May 9, 2012 at 11:37 am

    Any thoughts on VCLK, Fly?

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  10. 4fl3x
    4fl3x
    May 9, 2012 at 11:40 am

    I like this and it looks like an easy trade, so be aware.

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  11. noodleboy
    noodleboy
    May 9, 2012 at 11:42 am

    EXK is de-balling shorts. Very nice fly (!!!).

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  12. Dr Funk
    Dr Funk
    May 9, 2012 at 11:42 am

    Uberbear making money Lonnnnnngggg
    Scary because, as an uberbear, you don’t want to miss the big one

    Good times

    (I still hope the world plunges into darkness so I can hide in my
    faraday cage under my bunker)

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  13. xxxHuggieBearxxx
    xxxHuggieBearxxx
    May 9, 2012 at 11:45 am

    Kinda crushing it today….GDX, EXK, and SLW all doing pretty well. So far in the whole i need maybe 2 or 3 days like this.

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  14. donker
    donker
    May 9, 2012 at 12:10 pm

    CAN U SPELL CAPITULATION?

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