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
18,854 Blog Posts

Markets Give it Up, Chop in the FAGBOX Persists

What a frustrating market to be in, right lads?

WRONG!

This is a wonderful tape. Get the losses out of the way — humble yourselves upon the altar of a market in flux. It’s never easy to trade the chop, especially at the bottom of a channel. It’s possible we blow thru and fade into oblivion — but it’s not likely — fuckers.

Here we are, important men of industry, rich and thin, beautifully BARRELING towards Xmas festivities. This isn’t the occasion, nor the time, for a market crash. Check in with me in January and I will side with your bearish bets. I do believe markets are near disaster and only a miracle can save it.

If you’re shorting stocks now, after the action of the past three days, you deserve to die.

If you’re heavily long stocks here, after the action of the past two months, you deserve to die.

What is a gentleman to do?

Trade with both honor and decorum. Do it small, like the size of your cocks. I am in a 35% cash position, 15% TLT, a bunch of gold. Only ~30% is allocated towards stocks and I intend to increase that level, should technicals improve.

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6 comments

  1. schizo178

    this is a fuck up tape ..I am a noob and stay in cash

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    • irma vep

      Love your Avatar. So cuuute! Know what you can risk! Start low and slow and buy a few (maybe just a couple) mature companies that have been around a long time. I doubt GE is the only one out there that is a bargain (?). If it goes up, decide if it’s a gain you’d like to book. Keep the capital gains tax in mind. I don’t even know what it is right now. It’s a non-factor for me. Keep vigilant! It’s going to be spikey in the short term. You could make some cat chow day/swing trading. You have to be very vigilant! Set auto-notifications for a percentage or dollar/cents movement in the price of the stock. Decide what loss you are comfortable with and what gain you would like. Constant Vigilance! Then you’ll be on your way to being a looney tune trader especially if the stock drops in after-hours trading and doesn’t rebound, Then you’re just screwed. KNOW WHAT YOU CAN RISK LOSING.

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  2. numbersgame

    Fly, you ARE heavily long stocks, as you so often remind us about your 75% long quant position. I understand that those are wait-out-the-storm long term positions, though, but that is what most people do.

    My position for long term and short term is mostly cash (very high quality bonds and FDIC CDs, not fake-news “investment grade” bonds), with a net negative bias on stocks through various time frames.

    Also, my stock postions are almost all option spreads with positive theta, so if the market moves up 500 points and down 500 points before they expire, I make a profit. If it actually goes down, my profit increases. Examples:
    Long NFLX 290 Jan 4 Puts, short NFLX Jan 4 270 Puts (vertical put spread)
    Long AMZN 1600 Dec 21 Puts, short AMZN 1600 Dec 28 Puts (calendar put spread)

    And of course I roll the dates and shift the strikes as the market moves.

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    • numbersgame

      Sorry, I meant
      *short* AMZN 1600 Dec 21 Puts,
      *long* AMZN 1600 Dec 28 Puts
      (maximum profit if I’m still holidng them on Dec 21 and AMZN is at exactly $1600, but I will sell or roll them before that)

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  3. ferd

    Advertiser-dependent media usually emphasizes happy stuff from late November until the end of the year… but that doesn’t seem to be happening this year.

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