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
22,033 Blog Posts

BELIEVOORS PLEASE STEP FORWARD

Please do not misconstrue my incessant bearshitting commentary. I often say one thing and do another.

FOR EXAMPLE:

I hate stocks and wished they’d go to zero, probably due to some not so deep seated psychosis going on with me, but permit my Quant and Algo accounts to be 100% long. My trading is most often long and only bearish for short durations. I hedge my losses and find safe havens and then jump in when blood flows through the streets. I would of course PREFER to only see downward spiraling tapes. But, I imagine, after awhile it might get redundant.

The NASDAQ is +260 and today’s action is as boring as yesterday’s inaction.

I am quite pleased with my results, 55% cash +190bps in trading — much bigger returns in my other accounts. I have been hammered down in a FAZ position that makes up 10% of my holdings, now off by 8.5% or so. I could’ve closed it out without an issue many times during the day but I didn’t because the XLF isn’t known for such big one days moves. My best move, in all likelihood, will be to TRIPLE DOWN in FAZ — because nothing says stubborn like betting thricely on a positions that is not behaving nicely.

See what a poet I am?

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