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
20,462 Blog Posts

A REVERSAL OF FORTUNE

Markets were getting RANSACKED this morning and we closed up more than 550. Any fucking questions — you fucking faggots?

Let me explain my day.

See pal, there are two types of people in this world. There are those who run into houses and fire and get BURNED and others who run into houses on fire and walk out unscathed. I am that man — the latter.

I stepped in today long RIGL — it halted and quickly fucked me — barreling lower by more than 25%. I had a choice — get burned and meekly shrink from the challenge or rise up and DEPLOY THE MARTINGALE STRATEGEM to this trade.

As you could imagine, I chose the latter.

I stepped in at $3.55 and brought my cost down to $4.12 and then went to lunch. By the time I got back, I looked at my wrist-watch, opened my computer, the stock was over $4.3, so I sold it for a 5.6% profit — a 10% holding. I was not surprised that it had happened, only amused.

I closed out the day 45% cash, of the 55% — 15% short.

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17 comments

  1. narcist

    I prefer to kept my trades simple:

    1. Opened a meaningful short position at 3199 right at the Sunday night open. (Tempted to add to the short yesterday morning but didn’t.)
    2. Covered the short yesterday afternoon at 3144 upon the expected selloff.
    3. Let the markets do their thing and let the bots do their scalp trades all day today.
    4. Now considering to re-short the /ES on this idiotic blast higher.

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  2. narcist

    @Cain

    https://www.nytimes.com/2020/07/14/us/coronavirus-international-foreign-student-visas.html

    That’s how incompetent Trump’s people are. Can’t even get rid of the foreign students, let alone deporting the 11 million illegals (not including those millions of non-citizens who overstayed their visas).

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  3. lesurgeon

    You’re a fear mongering piece of shit on Twitter these days.

    You can say your reporting the news. But your just being a fucking faggot lately.

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    • Dr. Fly

      Sorry you’re so fragile. But it has to be documented.

      • 1
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    • purdy

      You, Fly …and everyone who says faggot (er, f****t) …or has ever used that term, should be fired from their job and condemned by all of us for their LGBTQ+ insensitivity!

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  4. snoozer

    looking forward to a.m. trading. love when i have to ask myself what to sell. choices.

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  5. bearile

    That’s how incompetent Trump’s people are. Can’t even get rid of the foreign students, let alone deporting the 11 million illegals (not including those millions of non-citizens who overstayed their visas)www.career55.com  

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