LE FLY TRAVELS INTO THE DEEP SOUTH FOR A PARLAY

I’ll be trading and blogging quite light this week, as I traverse the city of Charleston this week. Let me remind you that I do not take kindly to autograph requests and will quickly lash you about the face and gums if you choose to approach me.

I sold my quant for Feb today, up 13% for the month and acquired a new one. My trading account is 95% cash and my crypto account is BOOMING again with great gains.

Markets have once again de-balled the bears, made them look like childish fools. I’ll update you this evening on my adventures into the Deep South and hopefully remind you of my grandiose and eloquent stature as a trader extraordinaire.

I started a monthly buying program for Ethereum last year, allocating about 3% of my monthly revenues into the beloved crypto. I buy it on the first of every month without hesitation or temptation to market time. My intent was to accumulate the coin over 3 years, not at all interested in appreciation of my capital. The reason why I am buying ETH isn’t to get rich, but to diversify my currency holdings into crypto. Between BTC and ETH, I view the latter as the preferred vehicle and the option with best potential.

My basis over the past year is about $280. Last month I bought some at $1318. The month before that I bought at $748, and before that $607 and before that $385.

It was a wonderful occurrence when ETH shot above $2k, luring a new cadre of investor into the crypto amidst celebration and declarations of substantially higher prices just around the bend.

So color me amused when I view upon ETH trading at $1,390 now, still up from my 2/1 purchase, with the entire internet declaring it to be over.

Nothings over. You just can’t turn it off.

God willing, I will get to buy more ETH on 3/1 under my 2/1 purchase price, which will be the first time in nearly a year I’d have the privilege to do so.

I started off the day slow, as I had things to do. I did not trade until noon, at which point I was down by 150bps. I quickly made a trade in XTNT for +15%. It took me 4 seconds to open and close that trade. Then I ebbed into OCGN and ebbed more and once more and ended up +10% in a 15% weighted position. The point of this story isn’t to inspire you or to even SUBSCRIBE TO Exodus. I do not need your money, as I have plenty of my own. However, it’s worth noting, if everyone canceled, I might be quite sad, having no one to talk to anymore might finally drive me insane. But that’s not the point. The point is for you, the unwashed pleb, EAT MORE FISH — FISH LESS.

LOOK AT THOSE GAINS, +50% for the month, +140% YTD. You cannot match me, even if you lived 100 lifetimes and studied how to trade in every one of them.

The final minutes of today were bald, fat, and stupid. Very sad. I closed out with 45% cash, and will be trading very light, as I head towards a storm ravaged city in the hopes of eventful swimming!

We need for copper and other commodities of its ilk to drop, but do so in a manner that is not jarring. We need a slow drip lower, coupled with a rally in bonds, in order to get rates lower. Then you can enjoy grandeur in stocks like PLUG and GPRE, dancing in the streets like the degenerate you are. Until that happens, market is UNEASY about what is taking place. Higher rates means slower economic activity.

However, let’s put that aside for the moment. What do you think will happen once enough people have been vaccinated and the world is safe to traverse again?

People are going to spend all of their money in a drunken whir for the ages. Cruise ships will be packed tight again. Airlines at full capacity, so egregious they’ll charge you for peanuts. The upside to this lockdown is the release valve and when it’s turned. Because, during this lockdown, IMMENSE WEALTH has been created for well-to-do people and those people have been SPENDING LESS.

I guess what I’m saying is, short term stocks do lots of stupid things. But we have a Trump card in the tall grass, looming to strike into the hearts of the fiendish shorts and eat them whole.

I am trading lightly today ahead of my vacation next week.

Do not concern yourselves members of the reader class. Le Fly was cock-strong in the face of overwhelming selling today, gaining an astounding 5.3%, thanks to larger than dicked gains in GME, AMC, MP and WKHS. I closed out with around 60% cash, slightly concerned, but not really. YTD, I am +140%.

The market plunged today by nearly 500 NASDAQs because interest rates are spiking. Interest rates are spiking due to inflation, which is real. See my previous post regarding raw commodities here.

What you must understand is markets have soared on the idea of free money forever. Nothing is forever and it appears the liquidity party is about to end.

We will not enter a normal rate environ with stocks up at these levels. It is a fact that they will drop. This is not the time to get super bullish and start positioning into high beta names for a taste. However, if you’re a long term dollar cost average player, this is a good occasion to begin to accumulate at lower prices and to continue that journey for at least another 3 months.

That being said — shorting into a 500 NASDAQ hole is stupid — so expect a bounce.

Ultimately, there is substantial downside potential for the NASDAQ. I won’t even begin to discuss cryptos. As always, we trade and we will find a way around this train disaster. I do not take it lightly, a down 500 day on the NASDAQ, and neither should you. For if you do, next thing you know your account is leveraged and your balance is zero.

The stock game is too fun to jeopardize losing it as an avocation. Always err on the side of caution during dislocations and live to fight another day.

It wasn’t supposed to be like this. We had the GME business behind us and then out from nowhere a massive spike sent the market tumbling towards fresh daily lows, off more than 400 NASDAQs. I am of course speaking out bond yields, those bastard son of a bitches that plague us and stop us from financing for close to nothing.

We are in there midst of a CATASTROPHIC melt up in rates, as the 10yr swims freely higher by 10bps to 1.5%. The fear is the Fed lost control and this is it — the end. Fin. But those people are wrong and have always been wrong, ever since birth. I will tell you this is a temporary glitch and we will soon get back to popping champagne corks into each other’s eyelids.

On the matter of GME: there is a biblical styled blood vendetta out for Melvin Capital and Citadel by ordinary folk with $40 in their brokerage accounts on Reddit. I expect nothing less than $1,000 in GME; but I had to sell — for the sake of all that is good and fortunate.

I am up 500bps now, 80% cash, in the tall grass waiting for my next prey.

I liquidated both GME and AMC positions pre market for +166% and +30%, respectively. I can remain ignorant for only short periods of time until voices in my head yell at me “WHAT THE FUCK ARE YOU LONG GME AT $150 FOR?”

I never view a stock according to my basis, but where it’s trading now. Although pleasant, I cannot justify getting long GME at these levels, so I liquidated and greedily took the profits,

Next week I depart for Charleston for a small vacation, so I don’t need any headaches while I’m away. Trading will be light and blogging will be scarce. I’m up 600bps pre market and +141% YTD. I can do whatever the hell I want to do.

As for booking the profits ahead of what could be an epic short squeeze, I always opt for the fat middle and rarely if ever do I aim to time my sales at a top.

Listen to me and look at me. I stand before you a most victorious man. I happened to chance upon a little late day sojourn into the bowels of Melvin Capital, purchasing a 5% position in GME at $52. Since I have DIAMOND HANDS and a deep seated vendetta against hedge funds, I held the line and most of us did inside Exodus. The results were nothing less than staggering.

+10.2% for the session — NEW RECORD HIGHS.

I took the trade and others like it. I am margined out again in a car made of dynamite, heading for the sun.

I took myself off margin and have seen my gains reduced from +6.5% to 5% intra-day. This is part and parcel when trading on margin. I am presently 17% cash and struggling between two narratives where to travel next.

On one hand, I like cryptos and sense the crypto derivative stocks, like CAN, RIOT and EBON, can trade up. On the other, it’s entirely possible the DIAMOND HANDED assholes in BTC will succumb to a little Zerohedging tonight, fucking these stocks.

The other option is to lever up long into the COMMODITY SUPER CYCLE. I feel supremely confident about Ag, Oil, and also Aluminum. However, the gains in the latter will be less than the former, should all boats rise swiftly. There is also the off-chance everything gets fucked and the sell off from yesterday and days prior was nothing more than an opening salvo into a market destined to bleed out its residents.

The sideways crab like trading action intra day emboldens me to this way of thinking. I could also hedge or just hold the fucking cash and quit having to make all of the money right away. But see, Le Fly grew up inside the sewer hole looking up and wants his money now. If something gets in my way of this money, I get angry and filled with rage and lash out like a savage.

I have about an hour to decide. I’ll report back after the close.

I’m up 620bps as you read this, an unbelievable, surreal even, achievement for a person of my stature. To think, I could simply walk into the home office and make more money than you’ll ever make in your life time — in a single session.

I made 40% on HOTH today, not because I got lucky or was using INSIDER INFORMATION (cc @SEC) for my investments, but because the stock Gods favour me. They always have favored me and I tell you this so you could stop worrying about me — as I leverage into this evil tape and claim what is rightfully mine.