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
21,264 Blog Posts

Off to a Good Start, So I Went All In

I got off several very good trades this morning and then gandered at the market and liked what I saw, so I went all in — leveraged to 140%. This normally is a stupid thing to do especially when trying to crawl out from a hole. But given the oversold nature of the tape an the fact that we have some momentum today, I opted to attempt to capture some gains back, not by surgical methods, but carpet bombing in an attempt to grab alpha.

As I write this, the market just dropped 20bps and my gains CUT IN HALF from +1.5% to 0.8%. Nevertheless, this is my position at the present time. I own a who’s who of “good stocks” and will cut loose losses rapidly, although I will be a little more forgiving now that I own every stock on the market.

I got tired of tick trading, so the other option was leveraged bet and here I am.

Stocklabs was OVERSOLD yesterday for our 6 month algo, and almost for our 12. My best bet is to be long into this condition, in the hopes and dreams that we can recapture some upside momo.

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One comment

  1. purdy

    TLT back up to top of recent down trend. Shorted …just in case they do not want inflation to destroy the country. Low confidence bet.

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