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
22,556 Blog Posts

NEARLY RUINED MYSELF

LADS,

I was on top of the mountain urinating down below with a sense of entitlement and bravery. I felt brave because I was brave. I had gains of +2% and nothing could stop me, so I decided to close out my 15% weighted SQQQ position and enter into a quick gambit in LABU — based upon my fervent love for science.

I will illustrate in the chart below what happened next.

 

It’s fair to say I actually closed out my short at the highest point of today’s tape and then got involved in a bit of a MARTINGALE STRATEGEM in regards to LABU, 3x long biotech index, aka the Merchant of Death. My gains quickly dissipated like a snow man in June, falling from +2% to +0.11%, at which point I resigned myself to this condition. What was once a trade for a “quick profit” then become a religious experience. I conjured up ideas of science in my head and even thought once or twice about Dr. Fauci, perhaps coming to my rescue with FRESH COVID MANDATES, forcing people into concentration camps whereby they might have a nice long think about being ANTI-VAXX.

Then markets started to bounce and towards the top of that range, I once again BARRELED heavily into SHORT OIL via DIG at 15% weight, all but offsetting anything that might occur to LABU.

I ended the session +45bps which is being OFFSET NOW due to a most horrendous after hours debacle in LULU. At any rate, I remain eternally grateful that my enemies face eternal hell and do not come close to my most extravagant +51% returns this year.

Cheers and good day.

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One comment

  1. roguewave

    1) I don’t know 2 F’s about trading.
    Given that, what if a % gain was picked in the AM and if said gain was attained, said trader would immediately go to cash or hedged and go walk the dog while sipping a mint julip. I know it couldn’t be that simple, maybe not even possible – see#1
    What would end of day gains/losses been if positions were held?
    I would backtest that if only I knew what backtesting was.

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