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
19,351 Blog Posts

No Edge, Moved to Cash

UPDATE: *TRUMP PLANS TO DELAY IMPOSING TARIFFS ON AUTO IMPORTS

The market is supposed to be a lot worse than this — but we’re rallying. I could embed myself in a stubborn set of trades and wait for things to go my way — or extricate myself from the situation and wait for a better environment that suits my temperament. I chose the latter.

I cleaned out of most of my trading positions, raising cash to 70%. I sold out of my inverses too, but kept DRIP for now. I’m also still long NUGT and it’s a 10% position and I think I’ll hold it. I have a strong bias to the downside, especially on names like NVDA.

But the market looks like it wants to rally. I cannot force myself to like stocks and I certainly don’t want to get squeezed here either, so cash is my best option.

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7 comments

  1. goose20

    Fly…I’m 80% cash at 2.75% monthly and 20% stocks . 57 and plan to retire at 62 so basically game over and don’t want mess up retirement.

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  2. murder was the case that they gave me
    murder was the case that they gave me

    TGiR here. One trade for the crew…. $INGR is a fake meat derivative play (they make the pea protein that is the base of this shit). June calls are cheap. Hugs.

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  3. ferd

    Refiners beaten up while crack spread is holding near highs. HFC and PSX potential longs here.

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  4. og

    It’s like Monday never happened. Crazy shit.

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