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Trading with The Fly

Dr. Fly
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,417 Blog Posts

Looking for a Deadcat Bounce in Cryptos — Sold Off Hedge

Dr. Fly Wed Jan 17, 2018 11:21am EST 7 Comments

I sold my SOXS position, which was a hedge against my longs, for a 40 cents loss. With the proceeds, I bought OSTK, the best and biggest crypto proxy out there — with the added bonus of being a decent online retailer.

The stock has been hammered into sea shells this past week, off by 13%, and I’m looking for it to bounce sharply, providing bitcoin can stop bleeding out.

It’s a gamble, but so is life.

UPDATE: I bought XNET.

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7 comments

  1. Angel of Death
    Angel of Death
    January 17, 2018 at 11:44 am

    NXPI and TXN look ripe for shorting if you believe a pullback is due. RSIs are blown out.

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    • Dr. Fly
      Dr. Fly
      January 17, 2018 at 11:50 am

      Not getting in the way. I am out of SOXS

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      • edge
        edge
        January 17, 2018 at 12:18 pm

        Thanks for posting trades, Dr. Fly. Great entertainment on my slow days and even makes some money. Couldn’t get into OSTK but took some XNET.

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  2. stocksnblondes
    stocksnblondes
    January 17, 2018 at 11:56 am

    I’m enjoying the dialogue on stocktwits between the shit-for-brains “traders” who were late to the crypto-party and are now newly-minted bagholders. Its like sitting-in on an AA meeting with everyone trying to comfort each other.

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  3. srax_turd
    srax_turd
    January 17, 2018 at 12:19 pm

    This touth0m0 is now down 40% on his SRAX pimp job, but says nothing

    Gay Fraud Alert

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