I went through a nightmarish sojourn into plebeian society and lost money during September, thinking my entire world was over and my talents gone like a 38 year old baseball player. I covered my shorts this morning and some longs, upped cash to more than 40% and presently sit with a rather ribald gain of 1.6%.
My gains could be MOAR and they could always be greater — but I am not being sucked into your depraved world of pennied stocks and failed momentum cycles again. I sit with several old man stocks, one or two Chinese burritos, and ag chem stocks — because the world needs food and the prices for everything is going up.
My oil exposure has been reduced to just 1 stock and I’d like to revisit several of the names I sold today — perhaps as early as this afternoon.
I am always wary of morning trade and prefer to lock in gains when I can and buy back later, especially after such a miserable month and my back up against the wall.
Thus far, this tape looks good and I see little reason to fear being long.If you enjoy the content at iBankCoin, please follow us on Twitter