It’s raining out here, so I can’t travel down to the beach and stare into the horizon today. I normally like to do that on Friday’s, but will instead head into the kitchen and prepare a great meal, with lots of red wine involved. Beef of course.
The trade war is having a deleterious effect on Chinese related stocks, as sentiment sours, so does my IQ. Not a problem! I sold out of IQ and took an 8% loss. When your positions are measured and small and contained, taking losses is not an issue. It’s part and parcel of being a responsible trader.
I also sold RNG, and booked a 6.7% profit. Let’s call it a wash.
The HUBS triple sized position is really hurting me today — but I’m okay with exhibiting a little patience with this one. The market is poor and SAAS stocks are the first one’s to get hit. People always hate on success and target it, so it should come as no surprise to anyone paying attention that short sellers piss on SAAS stocks first.
I have an inclination to be careful, rolling into the balmy days of August. I’m 55% cash, 100% content. Let the chips fall where they may — we’ll do our duty and profit from this mess.
Also, and lastly, I bought TZA as a hedge, in order to sleep well Sunday night.
Ciao (the most annoying form of goodbye).If you enjoy the content at iBankCoin, please follow us on Twitter