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
18,966 Blog Posts

STOP FIGHTING TRENDS

You come here to laugh, but now I’m going to make you cry.

Look at this chart, fucked face.

See all of those ‘downs’? That’s when I was bearish. By the third “up” I switched to bullish, because only morons look at something dead to rights and deny its existence.

Will markets top out and barrel lower again? How the fuck am I to know, without the benefit of a time machine? Your job, as a trader, is to follow trends, not to counter them. Your job is to make money, not to fight metaphysical forces and pine for political change. It’s all well and good to crave for an equal playing field and to eat the rich — but consider the last time it happened, French Revolution 19th century, it led to Napoleon seizing power and barreling thru Europe like a rabid storm of aids, killing all the way to Moscow.

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7 comments

  1. moosh

    Thanks FLY! Is it me, or does every Chinese stock look like a buy.

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  2. acehood

    Yeah and then what happened in Moscow?

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  3. edge

    Point well taken, Fly. But sometimes a trader just HAS to try to front run the market. Know what I mean? Sure.
    That explains why I’m 90% cash and 2% SPY puts…what can I say, I like the R/W here.

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  4. the hungry dog

    Ditto Fly. That why I’m sticking with my MJ stocks!

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  5. spaceman

    You said buy the dips still working so I did Friday, GO GOLD GO!!!

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  6. tjnyt

    I’m ready for any thing. was up 8% Friday, reduced exposure , small pos FAZ,TVIX, SP puts. a few longs… AA,DVN,MU,MS,WDC.

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  7. tjnyt

    resolution of trade and government shutdown will take us through the resistance, after some pullback, energy and semis have room to run, after a little easing.

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