When I was an idiot stockbroker in NYC, we used to buy stocks on the cusp of breaking the magical $100 plane — because once it did it would almost immediately ‘roll’ to $106. It was dubbed the “Hundred Dollar Roll.”
I’d like to take credit for this vernacular on Wall Street, as I know I invented it. However, I am sure there are some of you fucktards out there who believe you did. Whatever the reason, this seems to work again and again.
Yesterday I bought GWRE under $100 and today I sold it for almost $103. It was, quite honestly, the easiest money I ever made — literally stealing money from men in wheeled chairs who are also sleeping.
Yesterday I had the idea of only buying stocks at $95+ heading towards $100 just to prove a point to you. Then I remembered I have nothing to prove and that would be unwise.
With the proceeds, I bought BE. That stock is poised and destined for higher prices. If it doesn’t I’ll retire from blogging and run throughout the green fields of Romania naked.If you enjoy the content at iBankCoin, please follow us on Twitter