Sunday night Raul was brooding harder than Ryan Gosling in a New York City taxi cab. The futures were lit aflame and it seemed almost certain I was due for an ole timey courrrection. And it would make sense, because I am sashaying around these markets with impunity lately. It is always a matter of when, not if, the market will sniff me out and drop a grand piano on my head.
Hey it happens—I won’t lie to you…truth serum is a perk of being anonymous.
But the grim reaper didn’t visit me this morning. Instead a little bit of the Miley Cyrus trickled through the veins of the market and I had a green day (no dookie).
The morning flowed, and after going on a seven trade winning streak in the /NQ_F I thought it respectful to make a sacrifice to the stock gods—so I sold off some RVLT over 4.
Don’t get up in arms now. There is no need to revolt at this action. RVLT ballooned last week to become almost 20% of my portfolio. And I took that low floater into the weekend because I knew the move had more junk in the trunk. When it fizzled today, I took off my bottom shares, the shares I bought down in the depths of hell, and booked them for over a 30% profit.
RVLT still remains my largest position but I did not want to start getting emotional over here so I took it to a size where I can stop pulling up the chart and a size I would consider riding though earnings. Great company or not, you are a jackass to have 20% of your risk existence on an earning’s call.
It wasn’t long before I had a new home for the cash. I piled it onto ONVO, making the position my third largest behind only RVLT and CREE.
ONVO 3d prints organs which is a total mind blow. The chart is forming a tight consolidation which will blow shit up when it breaks. My trade reviews show me I need big size on ASAP, so I can get my fat scale off while everyone else is still on the chase like I did AMBA last week. Being up 6% on my ½ entry, it seemed imminent to buy more.
In short, the port is green, the /NQ trades more at my speed, and everything on the news is fake.
Congratulations to Howard Lindzon and the entire Stocktwits team for getting a CNBC’s John Melloy to take the reigns as CEO. This is a huge blow to the financial news industry and no doubt speaks volumes to the decaying value at CNBC and the exponentially growing value of getting your news directly from traders.
Successful businesses aren’t the result of some magic voodoo. They are the result of good decisions diligently executed one after another. When presented with the right information, it does not take a genius to make good decisions. Any of you would choose correctly given the best information. And it is the people doing the work, day in and out, people like us folks on iBankCoin and Twitter, who know the business the best. Not some stud on the teevee.
The investor class is realizing this, slowly. Remember, when you venture to the internet for knowledge due diligence is paramount. Follow “experts” for months and hold them accountable. Don’t just follow some cowboy into a field of algo turrets.
And always demand more, more, MOAR!RIf you enjoy the content at iBankCoin, please follow us on Twitter