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
19,895 Blog Posts

Closed Out a 50% Weighted Position While Avoiding a Heart Attack

All month long I’ve been in a trading contest with my arch nemesis Diddy inside of Exodus. It all started way back when as he talked shit, so I challenged him and here were are. As of Wednesday, Lord Diddy was up a bit on me, so like any normal person would do — I then decided to take a 50% weighted position in BLUE. For those watching it, I could only imagine the sheer level of entertainment. But for me, honestly, it wasn’t much fun.

I hadn’t overweighted a position like that in ages, perhaps never. I didn’t think about it yesterday, but felt the knife twisting inside my stomach this morning. In the pre-market it was up nearly a dollar, but futures were lower — so I was tentative. Then it busted loose out from the gates, up more than $4, and the Gods smiled upon me. I ended up selling a little bit lower — but booked a 3.5% profit nonetheless.

I believe we’re neck to neck now, with Evil Diddy with a slight lead. I’ve traded twice as much as him, reminiscent of the Wile E Coyote vs The Road Runner. Both of us are up pretty nicely for the month — in the range of 4.7-5.5%. The day is still young so I have some trading to do.

I added to a BYND position I took on Wednesday and ended up selling the whole thing for +3%. I am massively in cash, after selling BLUE, and relieved to have that pressure off my chest.

DEVELOPING…

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4 comments

  1. numbersgame

    Fly, good luck, but don’t let the competition ruin your discipline – that’s you best skill.

    In other news, look at this joke out of China:
    “US shouldn’t push China to specify agricultural import amount in trade deal ”
    http://www.globaltimes.cn/content/1171620.shtml

    Damn, I don’t think Trump is even stupid or desperate enough to fall for that sh!t.

    “Preferential policies solely for a specific country are deemed as being against the (WTO) rules…China’s good faith has been seen by the world during the trade talks”
    1) CHina doesn’t give a shit about WTO rules and should be kicked out.
    2) If you agree with China’s interpretation and want to go by the book, then waht exactly is China offering?

    If Phase one is going this “well,” then it should be the easiest “sell the news” deal I’ve seen in a while.

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    • numbersgame

      Breaking news:
      “Trade deal finally signed!

      In the landmark deal, China promised to increase their agricultrual purchases by an unspecified amount. This news is already cascading through the economy.

      In Iowa, farmer Jack was worried about how he was going to make the mortgage payment on his soybean farm. After the trade deal was signed, he talked to his loan officer. The bank aggreed to cut his payments in half for the next six months in return for an unspecified increase at an unspecified time in the near future.

      In Michigan, laid-off union worker Ed also got an early Chritmas surprise: the shut-down Dodge plant was going to reopen. Ed now has a new job lined up. The job will start at an unspecified time and at an unspecified salary.

      The effects are also evident in China, where every single Chinese citizen was happier according to the Communist Party’s several million face-recognition cameras. Also, the Chinese people spontaneously decided to democratically re-elect Xi Jinping to a second life term as General Secretary and Eeyore as his VP.”

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  2. wolfdaddy

    I agree with you there re sell the news, whenever a deal is announced. I’ll be short roku with you then

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    • numbersgame

      With ROKU, I was defientely early and arrogant (not the first time). I plan to be mroe careful with China-trade-deal.

      I will sell all my longs – and most of my shorts, anticipating a strong postiive-spin on the news to bait the $0 commission rookies. I will be leveraging into treasuires, where I’ll be able to wait it out with the smart money.

      Interest rates at ATL while markets at ATH? Nice to see “free markets” at work.

      Here’s some Turkey-day food for thought: that 10-yr-veteran Investment Advisor that Baby-Boomers rely on has never seen a bear market.

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