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.
I kicked out the FNGU trade from yesterday for a 3.5% gain. As tempting as it is to buy DRIP or any number of 3x ETFs, it’s important to stay true to the disciplines that you believe in.
For example, I was bearish on markets because oil was tanking, HYG, SRLN and all of the other high yield crap was tanking. Lo and behold, that isn’t happening anymore. ‘Matter of fact, they’re going up, making me bullish.
Even so, I am 55% cash and reticent to take on any new positions intra-day, since the swings are equal to the weekly ranges. I’ll wait until after 3 to start one, which, admittedly, will likely be on the long side. No matter how you feel about stocks, markets couldn’t give a shit. It’s an emotional beast guided by fear and greed. Right now, you’re all greedy fuckers clamoring for more.
Okay, so let’s not delve into conspiracies about some secret group that was quite literally formed during the Reagan administration for the explicit purposes of buoying share prices (12631) — but markets pretty much bottomed on the exact day Mnuchin announced he was meeting with them.
Whether that the “the bottom” remains to be seen. But it should be noted, for the sake of future generations, that this happened.
This is idiotic propaganda, rooted in emotion for the expressed purposes of rallying stocks. Here’s another Trump tweet this morning discussing the Fed and markets.
Economic numbers looking REALLY good. Can you imagine if I had long term ZERO interest rates to play with like the past administration, rather than the rapidly raised normalized rates we have today. That would have been SO EASY! Still, markets up BIG since 2016 Election!
See how obvious he is in attempting to jimmy stocks higher? The only reason why stocks are going higher is because of price momentum. Want to know when to sell? That’s simple — all the time, but you should be buying too.
Want to know when to flip to short?
Easy answer: when prices start heading lower again or at the sign of first long black candle.
Hard answer: anticipate where stocks might exhaust themselves.
It’s never easy to anticipate where a rally might end, because trends are made to be broken. In this tape, I think you’re better off going with price momentum and responding to the prevailing trend, instead of opposing it.
Will the US-China come to a trade deal conclusion?
Yes, but it will likely be superficial. Why would Xi offer major concessions to Trump, who might very well be a one term President?
Watch oil, oil stocks, IWM, HYG, SRLN. Book profits all the time. Take measure of what stocks are working now — because those will be the go-to names to buy during future dips.
By my vantage point, we have 200 points of upside left in the Nasdaq. Ergo, I bought some FNGU — to greatly participate in the FANG rally. I do believe it is the highest probability trade now, given the circumstances.
I have lots of red flags shooting up — all to do with running into FAG boxes and overhead resistance. Truth is, those charts mean nothing. All that matters is direction and right now, it’s up.
My oil and gas oscillator has blow out to the upside, indicative of an oil market overheated. So what? It can still trade up. Animals spirits, short squeezes, etc.
XLE has room to grow.
Small caps has room before entering high volume resistance.
FANG is about to break out.
It’s easy to default to bearish, given the recent history. However, it would be a mistake to not follow price direction now. While I believe we have 1-3% more upside in the immediate term, we can, in theory, run higher by 10%, fooling everyone. The only way you can profit from such a move is to remain on top of the direction, being sensitive to change, and also booking profits along the way.
I sold SIVB today for a 4% gain. My FNGU position is a 5% weighting and my cash position is now 45%.
Looks like your attempts to unseat me failed and here I am banking coin, making lateral moves, directionally long. It wasn’t even a good try and you didn’t even have a fucking chance. I have stocks like ZEN and MDB urinating on your grave now and there nothing you can do about it, because you’re dead.
Make believe you’re intelligent and have some capacity to learn. This is what you need to do.
Watch WTI, HYG, SRLN and CLR. When those fuckers are up, go long tech. If they begin to fade, sell stocks.
All of my fucking stocks are up today. Le Fly wins again.
Extreme panics to the upside are part and parcel of any decent bear market worth its salt. This one should be no different. Following a 20 percent decline over the past 3 holiday encumbered months, one should expect revenge trading like a motherfucker to take place — starting with tomorrow’s session.
The easy money will be made early and soon. I’ve concluded that I’d prefer to take my initial gains, move to some cash, reassess, and then press hard again. What this might look like to you, the unwashed, uncashed pleb, is me selling out of numerous winnings for 5-10% gains, watching markets continue to scream higher, and then barreling back in at higher prices. This is entirely acceptable behavior, given the recent “volatility.”
One must book profits and wait for confirmation of another leg higher. Just a few days ago, I was willing to bet one of my children on a sharp move lower and total breakdown in the semis. But that didn’t happen — fucked face. The market is filled with wondrous marvels and I do not know more than it.
I’m merely a large pirate vessel, floating atop the sea — wholly directed by the winds of fear and greed.
Early going, confirm the bullish tone by watching crude, crude stocks, HYG, SRLN, AMZN, and NFLX.
NOTE:A Capstone slot opened up. Book your appointment now and be told by Le Fly what you need to understand. High value for your buck, believe me.
Look at how stupid all of you bears are now, stuck like fools with heads jammed into honey jars. You never had an idea what to do with your money in the first place, let alone now.
Update on my sloppily drawn channel. We’re going to 6,650 on the NDX. You’d be wise to sell short at that level, not now.
Over in Exodus — stocks are OVERBOUGHT. But do not panic just yet, fucked face. Here is the data over the past 36mo when the system was overbought. HIGHER PRICES 84% of the time.
What are you gamblers and bozos doing for the weekend? Perhaps a 10 hour spate of panhandling or perhaps shoplifting at the local grocery? I’ve noticed an appreciable degradation in the quality of the people on the free site — probably because it’s free and attracts the very worst people in the world. Just know, I am watching you and making sure you don’t get out of hand. Say whatever you want about me, even feel free to make fun of each other. But don’t you dare make fun of Dr. Benjamin Bernanke. That will get you a lifetime ban and your mustache punched clean off your face.
Off for another fun filled day with the nuclear family, perhaps a visit to the shopping mall, the infamous food court, and a nightcap of sober television viewing.
I’m very glad to be on the right side of history again. It was a nice run, being short equities — eagerly awaiting for bulls to spill some scalding hot coffee onto their hands. Much to my surprise, that scalding cup of joe is now festooned on the faces of bears — as markets gain speed and virility — shattering thru the 50 day moving average — spearheading to a new direction — higher.
Once a bear, Le Fly is today a bull — pressing his rights in the market — fully long in stocks already up heading much, much higher.
If my activity is too much for you to bear — might I suggest a new line of work?
2019 might, in fact, end up being rancid, a wasteland landscape made from the nightmares of the elite. But it doesn’t need to happen now. Brace yourselves and measure your responses. Moderate your exuberance and exercise a little more forbearance, before heading out into the winter cold. There are enemies all around us and we can’t show any signs of weakness, else they’ll set upon us with animalistic intentions.
For the weekend, I intend to partake in the nuclear family experiment, a most moribund expedition of grotesque qualities. I’ve been meaning to drink a lot more whiskey, as I’ve taken a keen liking to it. Maybe I’ll do that too.
YOU CANNOT STOP THE BUYING.
The government is still shut down and Trump wants a big dicked wall on the southern border. Meanwhile, Powell is seemingly afraid to upset markets now, so everyone is piling in for the big bounce off the bottom. The max pain trade would be a ferocious rally on Monday, followed by a bleak reversal — which would set a mood of grim despair amongst the Third Estate. I’d like to trade in that environment and will be eagerly awaiting its development come Monday.
