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
23,423 Blog Posts

“The Fly” Profits While You Wallow in Wanton Misery

Painful open for longs. I was supremely positioned in a sundry of gold and inverse ETFs and decided to take the profits, in order to lock in gains and/or avoid any intra-day chicanery that might develop as I run my chores.

DRIP +11%
SOXS +8%
TZA+6%
HL +7%
PAAS +22%
IAG +20%

It’s worth noting, I will have 15% miner exposure (I had 30%) and cash is now 55%.

Why am I taking profits if stocks are heading lower and gold is heading higher?

One in the hand is always better than two in the bush. I can buy all of this shit back towards the end of the day, if so inclined.

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6 comments

  1. edge

    Two mass murders in rapid succession marks the end of Trump’s rise. The orange buffon has proven what he is; incompetence shall reign until his removal, and those who are slow to sell will pay the price.
    It is now old news that a big change is coming.

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    • edge

      I haven’t checked in for a while, nice moves Fly. Once again you beat me, but since I’m deep into TLT… all’s well.
      I know, you don’t give a fuck.

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    • juice

      so you support the Ohio gunman’s murder-spree, since he also wished to hasten Trump’s demise

      however, his senseless murders were for naught

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      • edge

        Trade wars and race wars, the enduring legacy of Trump’s incompetence.

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        • juice

          Trump Trump Trump = boring boring boring

          however, you may wish to ask yourself, why a guy like him was able to be on the ballot and get elected if those before him did such a great job .. they all paved the way for a Donald J Drumpf and they all bear responsibility for him as well as all those who took part in the whole charade

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          • numbersgame

            In terms of *stated* economic policies, Trump and Warren are similar:
            – get rid of unfair trade deals
            – drain the swamp
            – reduce taxes on the poor and middle class and raise taxes on the rich.

            Of course, Trump than stockpiled his administration with Billionaires, put former industry execs and lobbyist in cahrge of agencies regulating their industry, and gave a huge tax cut to the wealthy.

            This is why the moral code and trust-worthiness of *any* political candidate should trump any stated policy positions.

            I’m just waiting for the corporations-are-citizens and gerrymandering-is-not-a problem conservatives to *uphold* the right to an abortion to complete the Conservative Court’s betrayal to poor and working class Republicans.

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