Rough trading day, sort of a mixed bag of nuts — cross-currents designed specifically to fool the plebeian class back into foolhardy sojourns. I made it a point to ignore my emotions and to think clearly about the task ahead. This being a consolidation day, we can either collapse to surge ahead. There will not be a sideways trading action in the weeks ahead. We will either trade up a lot or down. That’s my call, so brave and yet so based.
I positioned in expensive stocks that are out of the grasp of the poors, mostly out of novelty. I did see some money flowing into these higher priced securities but didn’t investigate too deeply into the narrative, as I am prone to changing my mind at a moments notice.
I traded well, as all professionals should. With the $IWM down 1% of the session, I managed to limit my losses to just 4bps, keeping me +150bps for 2024.
I am leveraged at 137% of equity, mostly to accommodate some hedges — via $SOXS and $TZA. My convictions are limited to the tides and the winds, as I am merely an instrument of money making abilities and try not to get emotional about my job.
The stated goal here, especially early going in the year: DON’T BLOW UP. In order to achieve this you need to set aside your child-like opinions and emotional outbursts and wait for a direction to be decided upon. You might feeeeeeel stocks are going up or down tomorrow — but the markets doesn’t give a fuck about your bad upbringing in the housing tenements and how you were never able to get girlfriends by tricking and fooling the easiest people on the planet — which led you to make small dicked decisions in the stocked market — rooted in the idea that money is going to solve all of your problems.
Go to the gym you pathetically flaccid troglodyte.
If you enjoy the content at iBankCoin, please follow us on Twitter
One of those days where the VIX ran opposite the general trend and ended quieter by 2% to under 13. So, I predict, a market reversal and up the rest of this week. If I’m right, you can thank me later.