As I had stated earlier i was going to 75-80% cash this morning on gap up as I a pullback was nearly certain and I was sitting on a mountain top of profits that would make ur local twitter trader blush…..Took nearly all morning but I liquidated numerous holdings in my swing accounts as the market had become shorterm overbought.
Now this is nothing to fear as I trade on 5 day timeframes so overbought/oversold for me can change in few days. A light pullback in the indexes towards the 50dma’s will be very healthy and a great buy opportunity. So I shall wait just daytrading/scalping very small (1/2 positions) till I get that.
Many of the “locals” ask me “arent you afraid of missing out on the rally?” Ummmmm Ive just participated in it in the utmost way. See when people talk double dip recession, gloom and doom, Kunal00 is buying stocks. When you see Dr. Doom (roubini) and the Black Swan guy Pecker Tapping each other low fives over EuroPean debt worries the BBP starts buying stocks.
The last 2 weeks I have traded like a Crack Addled CokeHead (if thats possible). Ive launched volkswagon sized grenades at my enemies. You know the funny men in non-descript chatrooms who lure the unsuspecting retail investor into their schemes.
The last day and half in my daytrade/swing accts
all $ipg in the 8.1s (7.62 buy ) 7%
3/4 $xtxi 9.7s (8.12 avg) 20%
2/3 $mpg 1.7s (1.53 avg) 12% gain
3/4 GSL 1.9 (1.7 buy)
1/4 ZSTN 8.9 (8.25 buy) 7% gain
KOG 2.53 (2.47 buy) 2%
MERC 4.5 avg (4.02 buy) 20%
PLX 7.54 (7.10 buy) 6%
FTK 1.35 (1.27 buy)
CRIS 3.3 (3.37 short)
Just remember if your taking losses and nothing turning these bullruns into big cash you need to stop taking the advice from fat bikers rocking mutton chops who use fancy twitter names to lure people into there lair
I did add JOEZ today at 2.11
GNVC at 2.6
holding 1/3 MPG CDII (1/2 pos) GRO SPU (all 3 flat) and down on a mega position of CCME (12.15 avg)
This CCME situation has me slightly annoyed as BOWS own candy peddler shamed me into buying so much of this stock! I commited in eggregious error while Gchatting with my bows crew like a bunch of highschool girls last night. I noticed there was some light dumping in this name after hours. So kept throwing in low bids. Low and behold my luck was so great as everbid I threw was getting hit. 12.45, 12.20, 12.10, 12.05. b I just had no clue whats going on till one of our own heroic bows# folk let me know that VISN busted their earnings…..
NEVER double down….its as useless as watching midgets hump a doornob
BBP maker of Booooom Master of Baaaaaaaaaaaaaaaaaaalllllllliiiiiiiin