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
18,957 Blog Posts

Raising Some Cash; Profits Should Be Taken at All Times

Many of the high growth SAAS names have been struggling to break out in recent weeks. There have been some pretty quick drawdowns in them and I feel like I’m pushing a boulder uphill instead of down. As such, I’ve decided to take some money off the table to reassess the market.

I sold CBLK for a 9% loss, HUBS +4%, SAIL +5% and ZEN +6%.

Since my quant account is killing it, up another 60bps for the day, I am in no urgent rush to throw money back into the market, although I did just buy ROKU. Look at the chart on ROKU — believe me — very beautiful.

Very soon ROKU will be running with its tits hanging out, in the fields, without a care in the world.

My other active trading positions are doing fine, including ZS, AGMH, BUD, PVTL, GIS, and MDB.

I will not let losses get bigger than small. No matter how much I like a stock, I will sell it if it’s underperforming. I will always look for new trends and try to spot them early. This is my struggle and I will be doing it here for the rest of my life.

It’s like a prison sentence, only that is makes me rich and affords me luxuries that most can never enjoy.

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