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
18,464 Blog Posts

TOOK A MEGA L — STOPPED OUT OF $NIO FOR TITANIC LOSS

I came, I tried, I failed.

I sold the whole position for a loss of 9.6%, triple sized 15% position means I enjoyed a fairly large drawdown for the day. The hurtful thing about this trade, obviously, is that I lost money in a manner unnecessary. I didn’t sell into strength and I bought into weakness. Hence, today I am a gigantic mammoth fucking loser.

I am keeping the QTT position and the NIO cash will stay in a money market.

You don’t understand, this trade just ruined my weekend. I was already in a pretty dour mood — feeling like an odious stock trading gorilla. Now with this loss, I am a confirmed ape tucked away in a dark corner of stupid, somewhere in central NJ — where the people are misfitted and the tree are old and bleak.

Top picks: CGC, UBNT and the opposite of whatever I’m thinking about now.

UPDATE: QTT gapped the fuck lower. Sold it too for an 11% L.

UGHHhhhhhhh.

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2 comments

  1. eddiedaroza

    Ouch. I’ve been thinking a lot about Nio the last few days and how this will probably be a pretty good trading vehicle if can get in a good flow. These guys are going to have SO many “milestones” and a bunch of other bs that they will exceeding or missing. Most likely will exceeding because its China and they are liars

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  2. moosh

    Le Fly, if you need a bit of a comedic pick me up… daniel sloss – dark – on nflx.

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