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
20,795 Blog Posts

Booking Some Gains, Moving Temporarily to Cash

I’ve got my cash reserves up near 50%, following a spate, mind you, of successful trades.

BZUN +2.4%
NEWR +5.3%
SPWR +5.4%

No big deal, overnight trading like it’s no one’s business. You can attempt to replicate this sort of winship, but you’ll fall flat on your faces and break your noses.

What else is new?

I’m looking into some new issues. Stocks like NET are poised. The question is this: do I buy now or wait to the end of the day?

Truth be told, trading between the hours of 10am and 3pm is amateur hour, trades executed by Johnny Nobodies trying to catch the wave they just missed. More often than not, Johnny gets BTFO and loses all of his coin. In rare cases, he catches an intra-day melt up. But how often do you see that? If you’re buying now, you’re anticipating a 3pm ramp. But a lot of shit can happen from 10am to 3pm. From my vantage point, you’re betting off buying after 3pm and getting those overnight trades AFTER 3:30pm, in order to insure you’re not getting fucked on prints.

Having said that, it’s possible I could buy before then. No one knows what I’ll do, not even me. I might buy some fucking stocks right after this post and dazzle everyone. But in order to see it, you have to be a member of Exodus. Membership does have its privileges.

Some people email me and complain about that and I tell them “you’ve had it good for too long, a fucking 12 yr free trial of free Fly trades, you fucking ingrate.” Hard to argue with me. You’ll never win.

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  1. WrongView

    Never win when I argue with my cat either. Kind of the same thing.

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  2. acehood

    You named your cat Dr. Fly?

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  3. numbersgame

    I’m not a banker, but I think ZH was on to something:

    This is the second day that the repo market bumped up against the $75B limit, this time instead of $80.050B, $83.875 was requested. This means that one of these guys (https://www.newyorkfed.org/markets/rrp_counterparties) is in trouble, and things are getting worse for them.

    These are overnight lendings, so it’s a pure liquidity issue, not solvency (“I’ll have the money to you tomorrow, promise.”) It could be related to end-of-quarter fund redemptions.

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