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
19,347 Blog Posts

Rough Road Traveled By the Bears — But It Might Get Better Soon

I am a deeply empathetic person. In spite of my ribald commentary and overtly aggressive way with the reader class — “The Fly” really does care. I care so much, I often root for others — even though it hurts my own interests. Whether I really mean it, or am simply lying to myself is a whole ‘nother topic.

On the important issue of bearshitting and shorting stocks to zero — it appears bulls will be running into a buzz-saw of resistance soon. Knowing this, I sold MNK, REZI and WATT today — all profitable trades. I have a slew of indecorous stocks now — THE SHIT PORTFOLIO — and feel a bit of regret today — following yesterday’s debauchery.

For example, why didn’t I sell FUV yesterday at $7.25, after buying it at $4.09? Up 75% on a day trade not enough? Now the stock is down 23% and I am literally sitting here rooting for something I know nothing about to go up. Soon I’ll probably start investigating the company and determine a long term reason to hold, or at least until it goes back to $7.

Saying all of this shit out loud is important, because now I feel like I already did it and know how stupid it is, so I’ll sell it immediately after publishing this post and book the grave 32% gain and be happy for it.

Oh, almost forgot — start harvesting your gains.

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  1. edge

    On the other hand, the Vix looks poised for another leg down.

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  2. mushroomz

    Looks like it’s just consolidating for the next move higher, HODL that shit to the moon

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