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
19,111 Blog Posts

I Might’ve Exercised Too Much Zeal in My Latest Purchases

Yesterday I went dumpster diving under the auspices of a strong market — buoyed by my desire to accumulate more gains. This is a never-ending conquest of mine that does not age, or whither, bend, or fold. It grows, exponentially, in both desire and method. Sometimes I wonder why I trade at all, when I could happily live out the rest of my days, independently ignorant to the whims of the market, write essays and concoct schemes inside Exodus to make investing better, cleaner. I suppose my passion is rooted in the idea of immortality, being able to leave a legacy, having constructed to impress upon the world ideas that make life better.

Why else live, if not to contribute and improve the world?

Without money, only time is valuable. I’ve never been charitable with my time — because I’m selfish in that regard.

Early going, markets are weak, as well as oil, and bonds are strong. Up until last week, markets did not bottom on Fridays. We’re butting up against what I called “the FAGbox”, which is a crude and heavy handed way of saying upward resistance of the chop varietal. It’s entirely possible markets might not trade a single point higher from yesterday’s close for the balance of 2019. If this is a bear market, we should be prepared for disappointment, only hedged by a coldness in emotion and mechanical disciplines to extricate us from risky investments.

I’m prepared to liquidate fast, and with regularity. I do intend to become the DRIP God once again — and presently look forward to another squall in markets to make the pigs squeal.

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7 comments

  1. edge

    I didn’t bite on your latest picks, but they seem to be doing well, considering.

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  2. bronze28

    Gambling junkie.

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  3. bronze28

    not officially negative until and unless it undercuts yesterday’s low of 2565

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  4. bronze28

    but 50dma is 2635. NO WAY IT GOES ABOVE THAT BEFORE A SIZEABLE DROP…. unless some extraordinary news like a resolution of trade war.

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    • edge

      The PPT is the same people who pushed the market all along. They’ll try to limit the damage. What they do is key.

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  5. ferd

    I built back short positions as we approached the LGBTQ …it was such an obvious thing to do, that I should have know better. Covered ORCL and AVGO here.

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  6. tjnyt

    i was down 8% early on but fought back to marginally up. trimmed and rolled to feb calls tech and energy. i see two hurdles market has to climb, shutdown and trade talks.

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