It was a nice run folks. The evergreen feeling of invincibility was shattered during today’s session, as the tech heavy Nasdaq bled out by 35 (as of 3:35p). You’d be interested to know the tech sector now makes up 25% of the entire market cap in the market, valued at $10 trillion.
Perusing over my self made indices, old man stocks were immune to the sell off — thanks to gains in KR, NKE, JNJ and ED. This was a very typical risk off day — stocks down and TLT/GLD up. Not much to discuss there.
My quant related trades, designed to chase alpha and follow trends, only shed 0.10% and was higher most of the day. On the other hand, my discretionary trades caught the wind cock in a lightening storm treatment. Outrageous losses were endured in HMNY and OSTK, hedged only by gains in XXII and COHR. My median losses were -1.3% in that account today. The fucking Moviepass idea isn’t something that I’m obsessing over and won’t sell it because it’s down. It is my lotto ticket. I will, however, blow the fuck out of this son of mother’s whore OSTK if the Bitcoin markets don’t recover soon.
God knows that I want nothing more than to enjoy my life, one that has been enjoyed with extreme leisure, while all of the Bitcoiners suffer in the fires of perdition. This version of reality is foreboding and awfully downcast for me. Stocks have played second fiddle to the garrulous shit-talkers in the cryptos for too long and I’d like nothing more than stark and grim conclusions in the blockchain soon. I’ve never come across a more ignorant group of idiots than the bitcoiners, and I was a very active and aspirational dot com trader back in the bubble days. Everyone loved trading the dot coms — but at least we knew the gains were on lease and would eventually be revoked. These cocksuckers believe bitcoin will trade to a million. I hate them and wish they’d stop talking.
My day has only just begun. I have lots of things planned, none of which includes some dirty martinis. Instead, “The Fly” must toil about the Princeton area and after he’s done toiler, he’s gonna toil some more.If you enjoy the content at iBankCoin, please follow us on Twitter