iBankCoin
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
18,461 Blog Posts

DON’T GET HOOKED

I bought some OSTK — thinking Bitcoin rally will continue over weekend. I’m holding shorts too. Aside from my TZA and OLED purchase, I sold SECO. It was a crazy fucking day and if I had to wager, I’d say maximum pain in both directions next week. The chop is really fucking annoying.

Sure, if you’re not trading like a crack head, you can scoff at those putting their balls on the line with quick trades. I used to do that too — last year when I was mainly using systematic trades. But now I’m trading and do so actively and I know I am damn good at it — because my account balances say so.

If I had one wish, it’d be for a broken elevator close into fear.

With 1 hour left, it should be fun.

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12 comments

  1. roundwego

    With every bounce in equities. Rates spike. The market is fucked.

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  2. roundwego

    Fear is growing. Chop chop chop em down.

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  3. MSGT HARTMAN

    And if it hadn’t been for the USSR this wonderful lady would be our President.

    https://twitter.com/twitter/statuses/962020354070851584

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  4. gatorsun

    UVXY puts,,,too easy,,,,back to 9 with this trash

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    • tonka

      VVIX still above 160 and VIX curve in HEAVY backwardation.

      Not saying it won’t work, but those are the most expensive puts on the planet.

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  5. gatorsun

    that was the dip everyone bitched and moaned about missing,,,LONG EVERYTHING

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  6. soupbone

    exactly. churn and bait for minimum one month. we can’t go from brain-dead parabolic markets to realistic markets and expect to get back…ever. A retest, if we are so lucky, will be seen in the weekly candles in any case.

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  7. infinitezuul

    Going straight to DOW 30K
    Trump said so

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  8. roundwego

    in chop, best to hold what you got til an opportunity shows up and then readjust when there is a clear path. The hourly bounces down with cop. the Daily is much clearer. especially since with the down from peak, the COT has not bugged. so even at higher vix levels the COT is still out of wack with leveraged longs. waterfall still in play on the daily.

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  9. masteroneass

    INflation and rate hikes suck. The GLD is probably the safest bet.

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  10. indie

    I can’t get enough of this video. I’M HOOKED!

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