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Dr. Fly

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.

NEW INVESTMENT THEME: MUSIC, SPEAKERS, POT

Everything I get kitschy with my investments, I get smoked the fuck out. Full disclosure: I’m doing it again.

I own SPOT. Quite happy with it, lovely.

I own SONO. It’s King and I know it trades higher.

I haven’t smoked pot since I was in my early 20s. Shit makes me paranoid and I used to hallucinate on it. Maybe I bought some really bad stuff — or maybe pot sucks. Either way, I prefer alcohol.

But, I do like the action in pot stocks today — with CGC, TLRY, CRON, and NEPT leading the way higher. Canada has a bunch of stupid pot stocks screaming higher. That country is truly without honor.

But I’m in — because I like the idea of streaming my $SPOT on my $SONO whilst smoking blunts, much to the chagrin of Mrs. Fly.

I’m long TLRY here at $29.49, thinking it’s gonna smoke the fuck higher tomorrow.

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BOT MOAR $SONO

When in doubt, buy SONO.

This is a double down from my purchase last week. King Sonos reigns supreme and everything about this market screams bullshit.

I have 15% cash and heart filled with unbridled rage.

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New Fronts on the Currency Wars Have Opened Up: Mexico, Russia, India

We don’t care much for Russia anymore, or ever have. As far as the United States popular opinion is concerned, all of Russia can go extinct, the way the Mongols intended, and we wouldn’t bat an eye. Xenophobia is bad, really bad, with exception to the villains living in Mother Russia. It’s open season on them, all the time, without pause.

Let’s take a look at their currency today.

Oh they suck. It must be really hard for them to buy bread, or milk. Not our problem, right? That’s what you get for hacking into John Podesta’s email box — famine.

Moving on to our good friends down in Mexico. I love everything about them: Chipotle, avocados, and drugs. They import the best fucking fentanyl in the world and even better: cocaine. Man is that stuff good. Plus, they’re providing pharmaceutical jobs across the United States, especially in urban centers — keeping the streets live and vibrant, prisons bustling with new members, and gangs are unified more than ever. The NRA is a BIG FAN of Mexico and you should be too.

Unfortunately, their currency is getting whacked today and millions of people down in Mexico City are having a difficult time buying their morning glass of cocaine.

Last but not least are the job stealers in India. Thanks to the wonderful H1B visa program, we’re able to extract the very best from India — the good bloodlines who are intelligent and honorable. We leave behind the hair thieves and street shitters; but the Rupee hits them all the same. Logically, the nation of India cannot continue to rape itself in such a manner — permitting their future to come to America and work in tech to build our country and make it great again. Eventually, THIS WILL HAPPEN.

It’s a slow burn to hell for citizens of Mumbai. The Rupee is at record lows and there is nothing to be done about it. Simple as that. King Dollar reigns supreme throughout the world. We are waging war on numerous fronts, winning all the time — causing people to turn to cannibalism for sustenance. Frankly, I hear human leg is a delicious meal. You can nibble on the grizzle of the ankle and really get to enjoy it.

Aside from Turkey, there are other nations to keep track of, in this new and exciting narrative of currency wars. Be grateful you live here and do not have to get smoked out by US malevolence. You can, instead, enjoy the beachside over a few cocktails, as Russians lose their entire savings and all of Mexico goes without their daily glasses of cocaine.

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CRISIS OVER: Qatar Pledges $15 Billion to Save Turkey

One could expect to see headlines like this soon, helping Mother Turkey from falling into the sea.

QATAR PLEDGES TO INVEST $15B IN TURKEY, NTV REPORTS

Is the crisis actually over? Maybe not for today. The ball is already rolling downhill and people can’t help but to vomit on themselves. Expect downside pin action throughout the day, culminating into the close which might haunt people into selling it all. An enterprising man would sell non-essential longs now — raise cash — and then prepare to buy high quality stocks with all of their might tomorrow morning.

Are you man enough to do it?

In the meantime, old man stocks are bucking the trend.

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This Sell Off is Actual Bullshit; Buy Dips

The Turkish crisis is predicated upon the lira shriveling away into oblivion, taking with it Italy and Spain. Every crisis around the world seems to do the same — completely entangle Italy and Spain in a web that only Germans can solve. Said Germans are probably sitting back now, sipping on some schnapps wondering how it all went wrong.

Meanwhile, the lira is actually UP on the day — to the tune of 4.3%. Ergo and therefore, this sell off is completely bullshit. There I said it.

Other cross-currents that are plaguing stocks is GE at 9 year lows, Macy’s sales stink, and some fuck-ball of an analyst who believes the semis are in fact rolling towards a debilitating bear market.

“We think it’s going to be a messy September for trade talks, so that’s the number one warning sign. But then, if you look at the seasonal factors, there are all kinds of red flags,” including elevated inventory levels, Larry McDonald, editor of the Bear Traps Report, said Tuesday on CNBC’s “Trading Nation.”

“We think the SMH [semiconductor ETF] here could be a 20 percent drop by year-end; I think it’s a screaming sell. The risk/reward to being short is very, very positive, and the risk/reward to being long, because of the macro factors, is very, very negative.”

From a technical perspective, Micron looks primed to keep sliding, according to TradingAnalysis.com founder Todd Gordon. Examining a chart of Micron back to 2007, the gains are easy to see; the stock has gone from $2 a share to north of $60 earlier this year.

“It’s been an amazing run, but you can see that by way of a parallel channel, we’re approaching an overbought status. Further, if you look at every time Micron interacts with the upper end of the channel, it kind of does this double-top, then backs away. Then a double-top, then backs away. I kind of see that happening right now, again indicating we have some underperformance,” Gordon said Tuesday on “Trading Nation.”

Interestingly, both silver and gold are getting CRUSHED today, with silver down more than 3.7% and gold off by 1%. It’s worth noting WTI is off by 2.4% also, indicative of a deflationary wave that is likely being caused by ‘global growth fears.’ On the issue of gold and silver, perhaps Turkey is selling everything they own to support its shitty lira?

Analysts believe Turkish banks need to recap and deleverage.

“J.P. Morgan’s macro team believes that a policy response would need to consist of the following components: policy rate hikes between [5 percent and 10 percent], fiscal commitment to backstop and recapitalize banks and deal with problem loans, targeted fiscal support for the most distressed sectors – a general policy framework which acknowledges the need for deleveraging and recognizes a recession is a natural side-product of this process,” said Martins in a note Tuesday.

Where have we heard this before?

Turkish and Russian stocks are down 3%, all of Europe are screaming lower by 1.6%, in line with our Nasdaq.

Here in the states, we have a typical risk off day, with Utes, Reits, and bonds bucking the trend — providing safe haven.

As for me, I’m getting poleaxed in my active account — which is down more than 2%. My quant isn’t fairing much better — down by 1.9%. I have 20% of that account in a permanent state of cash, which is reserved for Exodus oversold signals. We aren’t there yet. However, given the recent pin action — we might get there soon.

Botton line: Not scared. Garden variety fear mongering. Buy the dips.

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Here’s a Part of Exodus You Probably Never Knew Existed

For about a decade my readership has labored thru some of my blogs — talking shit about oversold signals and how Exodus has been able to time market bottoms. While true, this isn’t the only algorithm worth exploring.

Over the past year, I’ve grown quite fond of our overbought signal — not for its men reversion properties — but for continued momentum.

I am sending out an Exodus pro-tips email about this very thing next week — but here’s a portion of the material for your education now.

The algorithm that I am going to show you looks for stocks in a very strong technical position that have a history of breaking out further to the upside. The contents of tonight’s screen contains 22 stocks, of which the portfolio of names have traded higher 85% of the time for a very strong average return of 6.4% over 10 days.

Systemwide, overbought signals, in fact, outstrip the oversold — in terms of making accurate predictions for the direction of the market.

Exodus members can find this screen here.

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If You Believed Turkey Would Stop the Madness, Noose Yourself

This headline might result in the thought police on Twitter banning my account — but that’s fine, because it’d be worth it. How many times do I need to remind you that being a contrarian is being a fucking asshat? How many times do I need to remind you that NOTHING can stop the madness, not Trump, not China, and certainly not Turkey.

The math was simple. If a trade war with China could not stop stocks, why the fuck did you think a shithole like Turkey could?

Please.

FREE MONEY ALERT: Buy GWRE here an sell for the hundy roll thru $106. I have no position.

In summary, I sold BILI and YEXT today, bought PCTY and raised a little cash. I have several irons in the fire, none of which are so hot they must be removed from said fire.

The stock Gods are nothing, absolute shit. I spit on them and mock them all the time. I say this because I am invincible and nothing can stop my trading progress, which is both supreme and glorious. Everything you think you know about the market, I already know. Tomorrow I will make even more money, and the stock Gods will be laughed at and spit upon again.

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Out of $YEXT

I think YEXT goes higher — but Exodus has it flagged overbought now and the last two times YEXT was OB — the stock did nothing. My heart want to stay long — but my brain demanded I take the 11.5% profit and jog on.

Not doing much, other than minding my crops. I’ll keep you catamites posted if anything should develop.

Quick alert on the Manafort trial: the defense rested without attempting a defense and will only appeal to jury in closing statements. Any lawyerFAGS out there care to explain this retarded strategy?

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Here’s the Secret to My Recent Trading Prowess

Ninety percent of my picks derive from one simple screen in Exodus.

And it’s this.

I search for tech stocks within 1% of intra-day highs, up 2% or more for the session, graded by tech algorithmic score. The idea behind this screen is to find those hammers — stocks with momentum that are being bought by swing traders. Since I get them early, I am able to front run slow bros and attain excellent fills.

As an aside, I stepped in and bought PCTY today — for the winship of it all.

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Is the Turkey Done Yet?

What sort of ridiculous country is named after a poultry? Their currency is higher by 5% and markets have responded in kind.

I dodged a bullet by selling SWCH ahead of earnings. The reason why I sold it is because they’re not SAAS. Therefore, without the Bernie Madoff model of ‘predictable revenues’ — I had little to no confidence that some little company called SWCH could do anything impressive — so I sold it. It’s as simple as that.

I only play SAAS earnings — period.

I’ve got a few runners today — such as YEXT, SHSP, COHU, and NTNX.

I am the best and champion of the stock exchange.

In other news, I sold out of BILI for a very harsh 9.5% loss. Stops are stops — got to respect them and adhere to them. Zero exceptions.

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