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
20,420 Blog Posts

SIXTEEN FOR MY LAST SIXTEEN

Last two trading days has reignited a hot streak in me, one for you to both marvel and glare at with sheer disdain. While you sit there, uncomfortably, in your spiny chair attempting to day trade — blowing yourself up and out, Le Fly effortlessly scores monumental wins.

JWN +24.6%
WW +16.4%
ALLY +13.7%
STWD +18.5%
H +14%
TREE +10.1%
SQ +7.7%
ZEN +7%
CPB +1.9%
——— TODAY’S FISH
NYMT +33%
MFA +8.3%
MAC +10.8%
CNK +4.4%
SM +4.8%
GCO +5.1%
STWD +1.4%

Do not attempt to learn how to trade, if you aren’t any good at it. By “good”, I mean — if you are able to make money doing it. Some will lie to you and say “KEEP AT IT, ATTA BOY — GET UP THERE AND STRIKE OUT A COUPLE HUNDRED TIMES BEFORE YOU GET A SINGLE.” I will not waste your time and offer delusions. You’re a doctor, a lawyer, a trashman, a homeless person. But you are NOT a trader. Stick to what you know and do best — get drunk and cavort with hookers. Leave the trading to the professionals, men who’ve been thru the caustic elements and STEELED themselves, forged by the fires of yesteryear and today. These are not ordinary times and you don’t go out trying to learn baseball by batting against Nolan Ryan in his prime. This is not the type of market amateurs and rookies should be playing in.

On a general note, I do not like the morning action. I sold a bunch of stuff — raising cash to 40%.

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9 comments

  1. narcist

    @numbers

    I just closed my ES long position from yesterday afternoon for 35 points per contract. Good enough is good enough sometimes.

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    • narcist

      The works behind the scenes: For this kind of trades, I mainly rely on this and that for my calculations.

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  2. asteroids

    Fly is correct. It takes 10yrs of daily battle to become an “expert”, that is if you survive. I am in awe of the Fly’s batting average.

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  3. Orson

    Things are looking very generous.

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  4. i_am_nemo

    NYMT lt debt/equity is $10. That is the practically the highest of mortgage investments.

    Why would you trade that?

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    • peaches

      the market does not care about debt/equity right now. just risk on/off.

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  5. tjnyt

    The mirror image of yesterday, I sold leftover from yesterday & went short, maybe a little early.
    Next week narrative will change between global devastation caused by viral Godzilla and rebirth & resurrection, the opening of the garden of Eden ( my beloved NY Bot Garden) again.

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  6. tradercaddy

    Did the headline just change from 15/16 to 16/16?
    No matter, still Cooperstown Hall of Fame numbers unless of course you have been using performance enhancing drugs.

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  7. helicopter ben

    Congrats, Fly, but pretty strong words about telling people to stop trading considering you openly admit getting BTFO in the tech bubble.

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