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
20,629 Blog Posts

MARKETS REVERSE AND RAVAGE MOMO BUYERS WITH SEVERE EFFICIENCY

It wasn’t supposed to be like this. I was supposed to perfectly time markets “with the tools available to me” because I was the best god damned trader who ever lived. I drank the kool-aid and laughed gayly, as markets reversed and stoned into a concrete cinderblock. Now everything is fat and black, sad even. I have been stopping out of the shit I own with mechanical precision — locking in loss after loss in a foreboding whir of apathy and helplessness.

I even took out a hedge in the hopes it would time a market bottom, in the blackest of all humorous trades.

Sorry, I had to take a 5min break to liquidate my entire trading account — save SQQQ — as it went to session lows -285bps. The emotional tumult is too much of a burden when already in a deep hole. Losses multiply when you try to make it back. Having said that, if I am going to trade back — I need a clean slate and all of the FUCKHEAD positions I had weren’t working. I looked at them, right in their stupid faces, and said “I would not buy you right now”.

Grounds for liquidation.

Since I’ve done this, understanding the malevolent nature of the stock Gods, I would not be surprised if we bottomed here. This is the way markets work. The pull and push make you do things that press envelopes and before you know it — you’re in the fucking sauce drowning. I will not be a party to any of that and would rather fuck off for the remainder of the day, spending some quality time at the Grande Druid Lodge, than sit here and watch myself flag.

Some perspective, I am +5% for the month, coming off a +8% September. My trials and tribulations are mere pit-stops en route to hedonistic orgies.

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3 comments

  1. snoozer

    GS down at 211 after killing earnings seems like a decent grab. GS earnings also bodes well for MS tomorrow.

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  2. purdy

    Lots of repeats. Fly drifting towards mailing it in on pictures lately. Disturbing trend.

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  3. maxx2000

    “They” try to get a person all wound up and off his game. Sometimes just best to give this trading shit a break.

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