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
18,854 Blog Posts

Back in Cash, Waiting for Resolution

I sold 13 stocks and made money on just about all of them, with UXIN and JD being my biggest winners. Most were small gains, one as small as +0.2%. Often times people stop themselves from booking small gains, believing they’re too small to book, and then later end up taking small losses. Ever notice how fucking stupid that is?

Book the small gains and the large.

I am now 65% cash, waiting once again in the tall grass. Trades will be executed and communicated in real time, inside the hallowed halls of Exodus. I want confirmation of a break lower before shorting. Truth is, I am just as likely to buy stock than to short them. The reasoning for my sales was to HARVEST MY CROPS, regroup, take another look at the market, in order to effectively allocate. While that might seem like a lot of circle jerking for very little benefit, truth is, we’re up against the resistance point of 6,650 that I’ve been targeting, so I am staying true to that.

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8 comments

  1. og

    Man shorting TSLA is a pain in the ass.

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  2. matt_bear

    Thanks for the TNA recommendation last week. Just cashed out Jan calls for +308%

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  3. dollargoal

    On the same page, sideline. Right on my 6.6K$ target. Could be decent move up or down after the pause.

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  4. edge

    Sold NGUT TLT. Lost a buck on UVXY. 93% cash. Looks higher but I’ll wait.

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  5. jbandy

    Good idea to sit tight. A bunch of clowns out there always ready to throw money at the market because “the market always goes up.”

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    • edge

      Ha. I remember a bunch of guys I worked with spewing that shit in the late 90s and early 2000s. Got their asses kicked.
      However, the 08 collapse saw the Bernanke put, and It’s looking like there is a put at work now. As if there weren’t enough variables already.

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