This is exactly why Jack now has his own blog, so he can post some of his actual trades and share more investment insight.
The Fed’s cut rates a quarter point, and the market sold off immediately. As a hedge fund manager Jack makes tons of trades per day, this is just one of them he posted as he made it live. The stock was Goldman Sachs (GS):
- 1:45 PM, Shorted 22,000 shares at an average price of $225.34
- 2:56 PM, Covered 22,000 shares at $216.19
Total trade time: 1 hour, 11 minutes.
Total profit: $9.15 x 22,000 = $201,300
As a head fund manager Jack makes these kinds of trades all day long. Part of the “Live” aspect of Jack’s blog is that he will only post trades on his blog within literally a few minutes after making them. If Jack can’t find time to make the post right after the trade, he simply won’t post it.
Looking at his blog, Jack also made just over $20,000 shorting DIA which is the ETF that tracks the Dow Jones. A block is 10,000 shares, and one of these days I will explain what Jack means when he says, “pyramid”. Funny, I should add a stock education section just for Jack’s lingo…
How much was your worth today in one hour eleven minutes?