Scratched and Clawed Myself to Green

Methodically, I made sure I booked gains on this terrific market day. With the NASDAQ steaming higher and meme stocks on the mind of the Third Estate, it was rather a mundane affair to extract money from the tape today. I closed out the session +53bps, 115% long and I did bring some $GME, $BB, $IQ and $RUM into tomorrow.

Much of what you are seeing now is being fueled by the derivative market, lunatics buying calls and increasing the gamma, pressuring shares higher. It’s all very high finance stuff, which would fall on deaf ears, akin to explaining calculus to mentally retarded people.

There is a bias higher. The breadth wasn’t terrific today, closed at 52%, yet many are excited about what happens next. This heightened sense of awareness in people creates opportunity, permitting a whack a mole quality in the tape with traders wondering which stock is the next to go.

The good news for me, I erased my losses for May and now have gains just under 1%. The bad news is, my gains are comically inferior to whatever this is, grandiose moves in the underclass. I am emotionally torn between my high finance trading and my middle class upbringing which craves for aspiration and the ideal of becoming something or someone great.

Either way, things are going in th right direction and I can only hope that I made the right decisions to navigate what is going to be, almost assuredly, extremely volatile days ahead.

Although I’m not advocating to be long bad companies like $GME or $AMC for any significant length of time, today’s drawdown is most likely a pause in the fire that recently started. The difference between what I believe and what others are telling you to do is that I am just renting these fuckers and have very little interest in enriching the CEO’s of these companies with an opportunity to sell stock to the public. Bear in mind, by elevating the shares of $GME to unnatural levels, not only are you “having fun” but also providing the impetus for the CEO to sell shares to the public to raise capital, quite literally using all of the unsuspecting $HOOD traders as bag holders.

The way to mitigate this possible occurrence is to 1. only trade with money you can afford to lose and 2. book the profit.

There are some stocks I trade that I might’ve made 300 points in the name, but not continuous, doing so in dribs and drabs with risk mitigated by the holding duration or size of the position. What I am advocating against is you believing this to be a world changing event, that once you gun $GME to $500 all of the fucking trannies and meth heads littering your streets will magically disappear. This changes nothing, other than the digits in your account.

That being said, I had some bullshit overnighters and with today’s open I had to buy some real stocks like $AMGN, $GS and $CRWD in order to make up some losses. I am down 23bps and 100% cash, looking to get back in.

The meme stock trade isn’t necessarily for me, which is why I tend to play on the edges of it, names other than $GME or $AMC that might see sympathy bounces. Nevertheless, I am not opposed to trading anything on an intra day scale, just somewhat reticent to hold them overnight due to my serious trading nature. Unlike you, I am not a fucking clown and know what I am doing.

Many of the meme stocks got hammered into fucking pieces from their session highs, many closing 30 to 40% OFF THE HIGHS. This is what you get when retarded people without class or a modicum of expertise enter the fray, inexorably to get bogged down in the very worst stocks known to mankind.

If you think about it and I mean really really think about: you are doing exactly what the elite want you to do, take your hard earned money and toss is stupidly into fires. Instead of creating generational wealth that can position your offspring to compete, you instead opted to do final combat in a shitty movie theatre or gaming stock. This is why we are here: subjugated and under the yoke of malevolent people both censored and oppressed because those on the right LACK RESOURCES and are generally poor.

When I say “poor” I do not mean it in the literal sense, as some of you have expertise and make a decent living. But you are spiritually bankrupted and depraved, a shadow of the person your grandfather was, mostly due to comfort.

Hard times make good men and I’m afraid the lot of you imbeciles will not learn the lessons needing to be learned via a meme stock short squeeze, but instead when you’re relegated into obscurity broken and cast upon the rocks of hardship.

True wealth is built over a generation or two, passed down through the bloodline to be used for education, activism, business etc. The idea you are doing to beat “the man” by way of making $GME run higher, run by retarded CEO Ryan Cohen, is in fact laughable.

I closed the session +79bps, long a pastiche of shit but also 70% cash.

Good day.

I know you’re having fun with your bullshit 4 figure accounts, taking it to the man. But I am here to remind you that “the matrix” always wins and the periods of time when the plebeian class investor reigns supreme is almost always fleeting.

But because of this new environ fueled by angry mobs of Redditors and Xers wanting to express their disdain for the status quo, we have created an environ of very high risk for traders. The Exodus out of normal stocks and into complete bullshit, like $KOSS, $GME, and $AMC, means that when the Third Estate liquidates to finance their chicken nuggets diet, all hell will bust loose to the downside.

Bear in mind, I do not know when this will end and it could last much longer and I hope it does. But I know how it ends, the way it has always ended throughout time, with rivers of tears and ruin as the canaille are once again CRACKED ASUNDER by those with greater means.

I had tried my hand in numerous trades today, but I keep missing the pivots. I didn’t have the balls to buy $FFIE, now up more than 300%, and I most certainly will not buy $AMC or $GME up here in spite of the vibe. Unlike many of you out there in the wilderness, The Fly is a professional of the first order and will not be tricked, or fooled, into retarded gambits.

+70bps, 85% cash.

Shorts are having their cocks eaten for them this morning. It’s populism but with a capitalistic twist. Mad lads heading out there and voting with their money to destroy the elite. I know some of you do not think this way —- but rest assured that’s exactly what $GME and $AMC +100% mean.

The elite might hate us but we also hate them. Whenever and wherever the battlefield is to the advantage of the common man —- they will eat the rich.

That being said, heavily shorted stocks are +7% on a median basis today and it’s not just GME. It’s names like $BIG $SPWR $PLCE or $HOLO.

Hedge fund managers are covering their shorts en masse now, ahead of any squeeze — for fear their positions might be targeted next. It’s literally open season now.

I sold all at the open except for 1 position: $RUM, which I’m hoping will also undergo a short squeeze, especially since it’s heavily shorted and also hated by elites for providing the plebs with a venue to exercise free speech.

I ended up getting sucked into some low market capped trades, successfully, and closed the session +94bps. My losses have been reduced to under 60bps for the month and I will not rest until those frowns are turned upside down.

I ended the session with a super aggressive portfolio of shit, mostly geared towards quick flips. This can work out very good or very bad for me, all determinate upon the Gods.

On the whole, the market was extremely lackluster, other than the fact that $GME, $AMC and other meme related stocks blew the fucking brains out of short sellers. I am not negative on this move because the nature of short squeezes implies people to react to fear and/or pain. After such large directional moves to the upside, there are many many hedge fund managers praying to God for respite right now. If in fact we see a continuation of the $GME/$AMC rally, we might begin to see a truly ribald tape, whereby short sellers are executed in the public square and normies stream out from there hovels to declare themselves to be day traders again.

I truly welcomed this possibility, reflecting on fond memories of 2021 when the world was upside down fucked but money was extremely plentiful and markets magnificent.

A cursory look at the market and you will find many “meme stocks” lifting off. Stocks like $AMC, $KOSS, $GME, $BYON, $VFS and $RDDT are all up double digits. The market is littered with stocks flying off the shelves, juxtaposed against the former boring tape of last week with many conservative tech stocks trading lower.

Shares of $NVDA are +0.38% today.

I just tried to bag a trade in $OKLO and quickly saw myself down 6.5%, ending up selling for a loss of 3.5%. When day trading, those sort of drawdowns all but ruin a day. I was up 59bps before that stupid fucking trade and am now clinging onto gains of 30bps. I am 87% cash.

My issue with stepping back into the tape with most of my money is the fact that people seem to have lost their fucking minds, collectively bidding up stocks because Roaring Kitty is tweeting again. While I respect him and loved the era he presided over, this is not a reason to chase $LMND up double digits, or buy $GME up 70% for the day.

All things considered, if this wakes people up and creates a tidal wave of risk, I will be appreciative. But for now, these seem more like traps and opportunities to build some wealth.

People just want to be led. Case in point, the legendary Roaring Kitty trader who ushered many to riches long $GME tweeted last night and because of it shares of $GME $AMC and many other “meme stocks” have exploded to the upside.

Haters will say this is stupid and everyone buying now will get bagged. Just shut the fuck up. This market had been so boring I was thinking of ways to end my life because of it. We are back to thinking about single day 50% movers and that’s a good thing.

Am I chasing this shit? What the fuck do I look like to you, a moron?

I would’ve hoped for more, but at the end of the day we get what we deserve and we do not complain. I etched out a gain of +59bps, capping off the week higher by 1.5%. My opinion of the market is as follows: carefully bullish with a focus on defensive stocks but also open to the idea of it broadening out. The impetus to be long consumer staples now stems from the palpable fear of a renewed leg lower in equities. Instead of selling short, owning stocks that weakly correlate to the overall market is the next best thing.

I really do not like these tapes, slow and methodic, summertime molasses spilling off the side of a picnic table mid afternoon. I’d like to be able to move quickly and talk with my mouth filled, yelling at Mrs. Fly to “kneel down before my greatness”, laughing riotously throughout House Fly with an air of recalcitrant haute.

We all have choices to make. Some of you choose to sell short in the face of never ending rallies or to buy underperforming stocks in the hopes that luck will prove you correct. Others pretend that luck is skill, playing in the moronic sandbox of earnings season. On a long enough timeline, all truth and lies are revealed.

Sure, you can make money in a run away bull market; but how will you do when the fires are burning bright and the landscape is strewn with the lifeless bodies of former market participants, sacrificed on the altar of ignorance by way of over confidence in skills they never truly quite possessed.

The sense of invincibility, the ephemeral high of nailing trades and then thinking the reason for it was because you were handcrafted by God to be special is about the time you should chill out and go eat a sandwich. I’m not even going to talk about this morning’s 10% jump in $GME and subsequent collapse, but instead talking in my generalities and coded verbiage.

As for me, I came out of the gates very strong +85bps and then gave back 20bps in a trade gone wrong and now sit imperiously +68bps with 62% in cash. My positions are all defensive because I noticed a bust down in risk and a bust up in secular natured stocks. This is really high level finance trading that most of you won’t understand, so I won’t bother explaining it. It’s akin to me talking to my neighbors about private equity acquisitions based off an EBITDA valuation “that is just crazy” knowing he or she has no idea what I am talking about, sort of gazing through me with NPC eyes.

At any rate, I didn’t come here to only condescend but also remind you that today is Friday and the weather is beautiful and the market will soon begin to trade by appointment in the summer climes. Expect the action to be dispassionate and annoying, false drops and pops along the way. The most important thing you can do now is avoid being tricked by way of letting your emotions dictate your actions. If you are long term, fine. Turn off the screen and fuck off. If you are day trading, keep those eyes glued to your monitors and wait for a pivot to snag a 30bps trade in an leveraged ETF and then feel good about that, and then maybe drink a cup of coffee as a reward.