iBankCoin
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
18,593 Blog Posts

HARVEST COMPLETE; FLY WINS AGAIN

Go in peace.

Booked gains.

TQQQ +16.05% (double sized position)
UPLD +6.8% (double sized position)
ZUO +9.6% (double sized position)
NTNX +18.5% (double sized position)
LABU +26%
DATA +11.1% (double sized position)
HUBS +11.5% (double sized position)
ZEN +0.4% (double sized position)

No judgements and I don’t have a bias on the market. Don’t care. I had short term gains and I remember the anguish when I bought these stocks, thinking I was doing something ruinous. I appreciate the inherent skills that have been bestowed upon me and I reckon it’ll be a fine weekend, now 75% cash, only long a handful of stocks and just one upside ETF — GUSH.

If you followed along, God speed. People always complain about not knowing when to sell. The short answer is, sell when you have a nice profit.

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7 comments

  1. jbandy

    Well done. I suspected yesterday was the last day of this counter-trend rally. I also suspect that Trump is making up “fake news” about China trade talks in order to juice the markets ahead of the mid-terms. It is well within him.

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    • ferd

      A pol lying for political gain?
      Unprecedented.
      Shocking.

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      • juice

        Trump, the greatest twitter President, ever! 😛

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      • numbersgame

        Correction: for financial gain. Politics is just a means to an end for him. Remember, he used to be an abortion-loving Democrat.

        Still not shocking, though. #DrainTheSwamp

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  2. roundwego

    Trade war full steam ahead

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  3. numbersgame

    The only thing that can keep us out of bear market over the next 6 months is massive stimulus: central bank asset purchases, tax cut, infrastructure paln ,etc.

    Currently, central banks are trimmign asset purchses, the Reps will lose the House and if the Dems pass a tax cut, it will likely include a tax hike on asset-holders, which will only accelerate selling to take advantage of current rates. An infrasturcture paln woudl seem like something Dems and R’s could agree with, but Trump/Rep and Dems aren’t looking for any win-win outcomes, only win-lose.

    Of course, since the trade issue are of Trump’s doing, he could laways just undo them anytime he wants. He could claim a victory regardless of the factual outcome, because Trump’s fan base lives in their own reality where Trump is Truth and inconvenient facts are Fake News. This does not mean that we dodge a Bear, but it could mean a sudden and unexpected rally.

    Something else that supports that theory: implied volatility is significantly higher for QQQ options below the strike price than above it. Simply put, that means that option buyers think there is a much greater chance of the market dropping 5% than rising 5% – usually this is pretty balanced. Option buyers tend to be “dumb money” while sellers are generally “smart money.” Assuming we don’t have a 3pm crash today, I think a rally (which should be shorted) could still be in play leading up to Thanksgving. Now is the time for hedging, cash, or conservative positions, not leveraged-long or short gambles

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  4. soupbone

    A trade deal is imminent. Anything other is nuts.
    There’s money on the table and milking to be done, this is a correction.

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