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
21,324 Blog Posts

It Was Rough, But Now It’s Good Again

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.

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3 comments

  1. Mr. Cain Thaler

    LOL the stock market can’t even hold an erection when the bond market is closed.

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