Markets Fade, But the Trend is of Course Intact

It’s been a hell of a run — but now I bid you adieu. I’m off for vacation tomorrow and will likely be out of pocket for much of the next 10 days. I will of course attempt to trade and blog — but no promises. It has been a terrific run and I hope you all managed to see through the market and benefit from its gifts.

For beginners, the market can be intimidating. But, believe me, you can do this. Never give up. But if you do, find solace in knowing there’s someone out there like me — working hard so that the rest of you could take it easy.

My trades from yesterday thru today.

BNTX +18.9%
(INO -10%)
(BLNK -7.3%)
AIM +13.5%
IMRN +46.5%
IDRA +10.1%
CMRX +4.2%
WRTC +45.8%
ABUS +11%
(SONN -7.3%)
ADMP +15.8%
CODX +1.1%
APRN +3.2%
AKER +16.6%
TNXP +9%
TRVN +11.3%
TXMD +7.2%
DFFN +5.7%
SNGX +2.7%
FBIO – wash
EIGR +1.3%

I closed out the session 75% cash, bullish on a continuation of the recent rally in spite of today’s reversal. Drawdowns are to be expected and welcomed even. They add variety to an otherwise moribund existence. Because without it, nothing matters.

Cheers

Tomorrow I depart for mountain vacation for 10 days. I will attempt to trade while cavorting, although I very much doubt Mrs. Fly will appreciate it. We all know who’s in charge and she will do what’s she’s told.

This morning I cleared out the old brokerage account and went to 100% cash. Here were the fish.

TRVN +11.3%
TXMD +7.2%
DFFN +5.7%
SNGX +2.7%
FBIO – wash
EIGR +1.3%

Since then, I’ve had an itch to “play just 1 more” stock and bought a penny piece of shit biotech — because the Dow is +300 and everything is awesome. I do see the Nasdaq reversing lower and now down. There is massive froth in biotech and we are being rotation heading into oils and gold and silver. After all, silver is +6% today and of course oil +3%. Cryptos are heading higher too and if I’m having a moment of honesty here, there isn’t another asset class in the world that I’m more bullish on than Ethereum or Bitcoin.

I will be trading light today and making arrangements for my departure.

I print money. Call me Jerome.

I see a lot of SHIT talking these days, but very few if any of you can take me on head to head. This is my market. What I mean by that is, it’s designed for me — the old dot com era flow is back and Le Fly is reliving the past — 23 yr old broker turning nothing into a fortune. While this is different and I am older now, it’s all the same.

The narrative is different and the players are older, but the game is always the same and always will be the same for the balance of time.

Today’s closed trades.

BNTX +18.9% (overnight)
(INO -10%) (overnight)
(BLNK -7.3%) (overnight)
AIM +13.5% (day trade)
IMRN +46.5% (day trade)
IDRA +10.1% (day trade)
CMRX +4.2%
WRTC +45.8%
ABUS +11% (day trade)
(SONN -7.3%) (day trade)
ADMP +15.8% (day trade)
CODX +1.1%
APRN +3.2%
AKER +16.6% (day trade)
TNXP +9% (day trade)

INDEUD.

Amidst the tumult, global pandemics, Epstein judges and would be assassins executed — the Nasdaq jumped higher by more than 270. My gains in my trading account near +300%. My retirement never left cash back in March and I am resigned to it being there for quite some time, as I am more than willing to make up the difference trading directly.

If you ever wanted to know what it was like to trade in the dot com era, this is the closest you can get to it. The innovation isn’t the same, but the chicanery almost identical. Of course it ended in rivers of blood and tears; but while it lasted, nothing was as good and felt as good in all of mankind.

Here we have the Nasdaq +180. I’ve been working on Stocklabs this morning, unable to truly apply myself — but I did for a short while this morning.

Here were the results.

AIM +13.5%
IMRN +46.5%
IDRA +10.1%
CMRX +4.2%

No big deal. Just caught a wave in IMRN from $13 to $19 in 20 mins, amidst two market halts. Who is gonna fucking stop me?

On Wednesday I depart for vacation, extra COVID-19 medical masks. I am sure you’re all having fun; but trust me, you’re not having as much fun as me.

If you’re not trading biotech, you’re wasting time, and of course money. I sold BNTX this morning after a morning pop for +18.9%. But that enthusiasm was met with losses of 10% and 7.3% in INO and BLNK. I didn’t have many stocks heading into today — because if the recent trends, so I am much more reliant on intra-day rippers.

I bought 3 new stocks this morning, with a hankering for more, but I needed to update this blog.

The Dow is -150, Nasdaq +60.

Big gains in oil and decent pick up in tech, which has been struggling. But the main body of stocks I am focused on is in biotech, since COVID-19 is worse than ever and school is a major concern now and we all need a really effective and fast vaccine, that no one will take, before the school season begins.

Hence, and this goes without saying, we’re all looking for the next one to go.

UPDATE: I sold IMRN for +46.5%, 20 min trade.

No more traveling overseas and enjoying the views from your balcony overlooking the French Riviera. You are now subjugated to vacationing inside the United Steaks and I’m wondering what you have in store?

Lazy summer by the pool with gin and tonics?

Take a road trip to Portland to see the animals in their natural environ?

Perhaps travel to New England or a mountain resort with your COVID-19 face masks for a little relaxation?

I wonder if we’ll ever get back to normal sometimes, especially because I will not take that fucking vaccine. Honestly, I feel bad about that too — not wanting to believe the vaccine is beneficial for me. But it’s rushed and I’ve seen the movie I am Legend and would rather fight and die as a human, than become a Vampire, roaming the streets of Portland in search of outrage.

Being someone who is both highly intelligent and observant, I find myself in the unique position to offer you good insight into markets.

Prior to this week, the play was to buy SHIT stocks up on big volume into the next day. Buy at 3pm, sell at 10pm, rinse and repeat. But that stopped working this week. Instead, and even more degenerate than ever before, INTRA DAY RUNNERS are making traders rich as fuck. The majority of my losses are now overnighters whilst the easy wins take me 30mins to achieve.

I had a CHECKERED day, nothing too great, but I had fun — and that’s important for morale. Without morale, I’d lack motive and without motive, I’d trade poorly.

(TTOO -4.9%)
(BOXL -16%)
(TZA -8.5%) x2
(FNGD -4%)
OPK +7.2%
VCNX +11.3%
OTLK +3.9%
JNUG +4.6%
SPAQ +7.2%
VBIV +7.4%
(SNES -13.5%)
(SUNW -6.6%)

It’s hard to defend against gap down, unless you average down — which doesn’t work all the time. It’s hard to explain what I need to see in order to double down. But it should be noted, I almost never lose.

Markets ended mixed — Dow -62, Nasdaq +32. I think we head higher some more next week, predicated on another stimulus program and COVID-19 related virus plays and social distancing. There are many trading vehicles in this post industrialized world. You just have to know where to find them.

Self promotion time. Support iBC fucked faces.

Books, StockLabs Beta, StockLabs Newswire, Exodus, iBC Merch.

Ciao

The media isn’t panicked like before and by extension — we’re not panicked anymore — because 1,000 people per die aren’t dying in NYC. This is the scene in NYC now, as they enter phase 4, full recovery.

Put your fucking medical masks on you piece of shit.

Partying like it’s 1929, martinis in tow, cocaine splayed out across the mirrored table. Over in Miami, everyone is BOGGED out with the flu and the red states — well; they are fucked. But the red states aren’t with paying much attention to. Plus, we all know the 25,000 people dead in NYC was a tragedy, but the people dead in Texas died because they were flu-bros and would not wear a mask.

The SPY is +2, other indices barely lower. It has been another week of spendthrift in the market, retail investors clamoring for the next winner. This is who we are.

Like other old beards, I too expect a comeuppance. All of this excess must lead towards something awful. But I’m not gonna stick around long waiting for it. Today I am closing out my hedges — because they didn’t work and because I’m bored waiting for happenings. By the close of trade, we’ll probably be up another 100 Nasdaqs or so.

Nothing can stop us!

Oh by the way, 77,000 people were diagnosed with COVID-19 — new record!!

These were my results.

BE +6.7%
DGLY +17.7%
(FAZ -10%)
(WIMI -5.5%)
BHAT +7.6%
DGLY +11.7%
SONO +6.85%
FUV +3%
AIM +6.8%
JRJC -10%
EAST – wash
(MNK -5.1%)
(PTE -1.2%)
AHPI +9.6%

Most of them were data trades. I am finding the intra day stuff to be working better than overnight holds recently. Maybe this is going to last, maybe not. But there is a FUCKLOAD of volatility and it’s easy to trade this runners.

What is the key with runners?

No fear.

How do we achieve fearlessness when trading bat-shit stocks?

Position sizes.

Each trade is 5% of my portfolio and I usually always sell at max -10%. If you do this, I promise you, trading will become fun again. I aim to win based on the quantity of my wins, not the magnitude of them.

For example, I have an unrealized gain of +50% in WRTC — but it only equates to 230bps in my portfolio. I am fine with this because this is my game. I trade dozens of stocks per week and aim to continue this feverish pace until I am exhausted. It’s easy to lose energy or drive when you are losing. The fastest path to failure is poorly sized positions and improper risk management.

Bottom line: I am not here to teach you, only provide you with fish to eat. But I think you would be wise not to blow yourselves up before deciding to join us in Exodus.

Cheers.

See pal, when you get stuck with a bag of lemon, market all down and shit, it’s best not to lament and instead make some high grade lemonade. This is precisely what I did this morning, after gazing into the market and seeing nothing but red bars. I picked myself up, fired up Exodus, and went to work.

Here are my results, thus far.

SIFY +12.1% (overnight)
BE +6.7% (overnight)
DGLY +17.7% (day trade)
(FAZ -10%)
(WIMI -5.5%) (day trade)
BHAT +7.6% (day trade)
DGLY +11.7% (day trade)

I have a few more tricks up my sleeve pal. For the most part, I am a Master Ace Trader (M.A.T.), quite literally the best trade you’ll ever come across in your natural born lives.

On a macro level, I do not like the way the market is trading. However, we’ve got pockets of runners here, so I will continue to take advantage of this seem while it lasts.