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
21,000 Blog Posts

Always Fade the Open

I shot out from the box with a rocket attached to my back — roaring +270bps in my trading. I took the gains and went to cash, 100%. It wasn’t a hard decision, having already achieved a monthly return inside a single day. Most of my worst trading days of all time started off innocent with large morning pops, followed by harrowing reversals. I don’t mind having made poor decisions — but missed opportunities due to my feeeeeelings always haunt me. Ergo, I sell at the open.

Stocks are mixed, with strength found in most large cap names, weakness in small. The miners are the true standout, with silver +4.5%. I bought a silver miner here, just in case it gets ridiculous. Other than that, all cash.

Today is Quant reshuffling day for me. Last month the Quant did +3.5%. I am expecting more of the same for May. My trading, however, much moar. It spearheaded a gain of +9.4% in April, now +190% YTD.

We are finalizing some fixes for Stocklabs and should be able to begin inviting beta trials soon. We have not accepted new users in over a month now, an unfortunate side effect of migrating Exodus to SL.

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