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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.

Pro-Tip: Don’t Buy Gambler Stock and Then Walk Away From Trading Turret

Chalk this down in your stock traders handbook.

Earlier today I bought SOLO, based upon this or that — MUH electric cars going higher. I was feeling damn fucking good about the trade and then needed to step away early. Always busy and never one to just slouch around the house like a fucking loser — Le Fly stepped out into the breezy winter winds feeling accomplished and poised for profit.

In about 5 minutes after I sped down the road into a whir of dust and dirt — SOLO had collapsed 50 cents from my basis. This is a level I’d normally stop out.

So now I am entreated to the specter of enduring yet another reversal of fortune, the first being CFIS — from +30% to -25%.

Nevertheless, I trust the Gods are with me and favour me in spite of this brief period of set back.

On the issue of home maladies that afflict me, just today both my shower-head LITERALLY EXPLODED and one of my kitchen cabinet drawers broke off and collapsed. This is good news for those tracking my stock market mojo. Personal set backs have always been met with fierce rallies in Le Fly’s holdings.

See you misfits and vagabonds tomorrow.

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Markets Tried to Go Down — But Was Rejected

I sold out of that CIFS shit for a 25% loss. It’s funny, only because it’s sad. I had a 30% gain in it yesterday, then got greedy, then got REKT. ‘Tis is life.

Towards the end of the day, I bought VIPS, another low brow stock with hunger in its eyes.

There’s nothing bearish in this set up at all and the only reason why I have cash is due to caution. We’re run up big and I’ve enjoyed handsome returns. Before dialing up the pressure again, I want to see how the market responds to this overhead resistance. If the Qs shot above $177, I’d be convinced to go all in again.

Other than that, I’d like to see Apple confirm that business is okay, which would place us in a position to see new highs.

Got to run.

Ciao.

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NEW MOMO PLAY OF EXTRAORDINARY CIRCUMSTANCES

We’re all trying to find the next Tesla — because it’s fun and easy to do. I sold out of my electric car maker CAAS today for a +16%. I then barreled into shares of SOLO — hoping for a repeat of something great.

Chart patterns is sublime. Tits up inside 24 hours else I’ll cut my genitals off.

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Fed’s Powell Warns of “Conflicting Signals”, But Everything is Healthy and Favorable

If you only listened to the Fed, you’d never know what the economy was really doing. Here’s our Fed Chair, Jerome Powell, attempting to have his cake and eat it too today.

Source: CNBC

In his semiannual testimony on the state of monetary policy, the central bank chief noted that he and other officials are watching the state of affairs closely and are prepared to adapt policy if warranted.

“While we view current economic conditions as healthy and the economic outlook as favorable, over the past few months we have seen some crosscurrents and conflicting signals,” Powell said in his prepared remarks to the Senate Committee on Banking, Housing and Urban Affairs. “Financial markets became more volatile toward year-end, and financial conditions are now less supportive of growth than they were earlier last year.”

China and Europe are particular areas of concern, and the Fed also is watching how Brexit negotiations and trade talks play out.

“We will carefully monitor these issues as they evolve,” Powell said.

In other words, and I touched on this before, heading into 2019, the economy was slowing in a very abysmal way. However, since then, things have improved. Alas, we circle back to the narrative I am trying to compel you to consider. Everything we’ve just undergone is at a cross-roads now. If Q2 ends up being a disappointment, we’re heading back towards the fucking lows, and much more.

Having said that, I’m not shorting this shit now — knowing fuckheads like Powell are out there trying to grab the market’s jock-strap. Best thing for me to do is eat some eggs, some black coffee, and perhaps smoke my estate pipe — waiting for resolution.

I sold out of my NUGT position today for a +5.6% gain on a triple sized position.

Top pick: Cash (presently 55% cash in trading account).

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Running into Significant Resistance, Not To Mention the Buzz Saw of Q2

I’m not saying we’re heading lower — because nothing in the data suggests that should happen. But there are a few reasons why you should lighten up here — especially after such a big run up.

We’re right now at a level where a lot of people got caught long several months back. People are likely eager to sell around these levels to count their blessings and move to cash. Also, we should expect to hear about Q2 in March, possibly Apple. We know Q1 was horrible and the market priced it in. What if Q2 isn’t good enough to justify the run up?

Trump is touting progress in his negotiations with China. But is President Xi likely to cede to his demands with the US elections less than 2 yrs away?

Lastly, QQQ is now overbought in Exodus, with flawless stats implying downside action. The last time we were overbought on the Qs, the market topped out and barreled lower, starting the late 2018 panic.

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Mountainous Wins Bless House Fly

This is what I did today.

NIO +15%, QD +15.3%, LX +9.8%, HYRE +21%, OLED +9.5%, BILI +10.6%, PLUG +7.3%, CY +1.2%, HABT +1%, TLRY -2.5%, DATA +1.5%.

See pal, that’s who I am and you’re nothing.

Oh but you’re a good Father?

FUCK YOU GO HOME AND PLAY WITH YOUR KIDS.

My opinion is that you should be taking profits. But nothing is bearish, in spite of today’s tepid action in crude. HYG was up. The indices were sharply higher. Everything is fine. I anticipate a pull back — but shall not act upon my urges until I see it happen.

I ride into the close a supreme winner, of a magnitude you could only dream of accomplishing. I cannot be defeated, or stopped — because the Gods favour me.

Prove me wrong.

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SALT/SHADE

Former Fed Chair, Janet Yellen, all but called President Trump a fucking orange ape today, in a radio interview — discussing the President’s financial illiteracy.

Asked if she thinks the president “has a grasp of economic policy,” Yellen flatly responded, “No, I do not.”

“Well, I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability, which is the goals that Congress have assigned to the Fed,” she added in the interview with American Public Media’s “Marketplace.” “He’s made comments about the Fed having an exchange-rate objective in order to support his trade plans, or possibly targeting the U.S. balance of trade. And, you know, I think comments like that shows a lack of understanding of the impact of the Fed on the economy, and appropriate policy goals.”

When it comes to economics, she said Monday that Trump misunderstands some fairly elementary concepts, citing his stance on reducing trade deficits with China and other global partners.

“And when I continually hear focus by the president and some of his advisers on remedying bilateral trade deficits with other trade partners, I think almost any economist would tell you that there’s no real meaning to bilateral trade deficits, and it’s not an appropriate objective of policy,” she said.

Yellen is not alone in getting skewered by Trump.

Her successor, Jerome Powell, has come under intense criticism for raising interest rates, and there was even speculation that Trump might replace him.

Yellen said Trump’s pressure on what is supposed to be an independent Fed isn’t healthy.

“President Trump’s comments about Chair Powell and about the Fed do concern me, because if that becomes concerted, I think it does have the impact, especially if conditions in the U.S. for any reason were to deteriorate, it could undermine confidence in the Fed,” she said. “And I think that that would be a bad thing.”

TRUMP BTFO. What will Donny do? Will he shrink from this round of grape shot into his vessel or will he rise to the occasion and fire off a series of really mean tweets?

DEVELOPING…

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THIS IS A KILL

I took profits in a variety of small capped stocks this morning — because that’s what I said I’d do weeks ago when the Qs hit $175. Well, here we are and now is the time to harvest gains and relax.

Booked NIO +15%, QD +15.3%, LX +9.8%, HYRE +21%, OLED +9.5%, BILI +10.6%, PLUG +7.3%, and CY +1.2%.

Try to keep up.

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