iBankCoin
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.
Joined Nov 10, 2007
23,492 Blog Posts

COMMODITIES BUST LOOSE

I don’t want to discuss $GME anymore, other than to remind you that when a bad company’s stock goes up, the CEO of that company will almost always take advantage of the situation and issues shares. Remember that.

That said, I’m barely up this morning, which isn’t ideal to say the least. Pre market looked promising but we are sort of listless here with bland action and dispassionate fervor.

I do like the China stocks and bought some $BABA. My trading aside, there is a massive and notable move in commodities here, led by copper and silver and gold and even nickel and zinc. It’s similar to the risk off vibe we had at the onset of the Ukraine war. Russia centric materials are gapping up and silver is beloved by those who want to “end the Fed.”

Take that what you will. Are we pricing in war, inflation, the end of the Fed, or all of the above or none of it and this move will shortly be revoked?

My sense is the copper move is tethered to Chinese growth and/or demand, so either China is taking off now or they are hoarding the metal.

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The Life Has Been Sucked Out of the Fucking Market by Retards

Good day

The session started like shit for me because, like a jackass, I bought $GME into the close. I also had some $IQ, which TANKED at the open by 8% only to later SOAR and close +9%. I was bogged by losses all day and it got more difficult to avoid being routed, due to the market’s life being drawn out of it by micro cap gambling CUNTS. We saw an array of 10 cent stocks soaring by 500% and if you’re wondering: yes I hate you and want you to die.

In the morning I had all sort of SHIT popping, like $HOOD and $AMD. The Robinhood cocksuckers went from +3.5% to down 3%. I executed several successful day trade but still could not stop what was going to happen: me closing at the fucking session lows of DOWN 135bps.

Into tomorrow, I am 101% long without hedges, because why the fuck not?

All you need to know about today is high beta stocks closed down 1.27%, OFF by 2% from session highs. If you stepped in late and tried to be cool, you got DOWN 3% for the day and now you’re wondering if it’s too late to buy some $GME to make it all back.

On the bigger picture, I am down 0.6% for May, trying to climb back to green.

Since I am fasting for the next day, in order to test my mettle, I will be doing very little for the balance of the evening.

See you fuckers tomorrow.

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Insane Fucking Squeezes

One of the consequences of the renewed fervor in $GME has been people are now actively hunting short sellers, gunning up stocks higher based solely on the idea if they press it high enough they could kill hedge fund managers. I am not using hyperbole.

Case in point is soon to be ZERO $FFIE is up over 5,000% the past week, running from below 10 cents to over $2 in a few sessions.

Other winners include $CTNT +466% $CRKN +340% $SINT +272% $NVAX +191% $LIDR +165% $SLNA +145% $IPQ +135%

Notice how $AMC or $GME isn’t on that list.

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The Secret Bull Market in Industrials

I thought I’d take a break from talking about me and touch on a part of the market that goes largely unseen, especially from day traders. The fucking industrials are zooming and have been zooming for quite some time now. Doing a macro search of the highest growth rate by sector brings me directly to the industrials, +13% TTM. I ask people around the country what they’re seeing and almost everyone says they’re seeing lots of construction projects happening.

Here in Raleigh, I see nothing but cranes, as all of you northern scum come down here to escape your northern dystopian hell holes.

Most traders are attracted to the high stakes, high volume, high reward of tech. But in the underbelly of the market are these fucking stocks that are crushing, almost all of them growing on the top line as well we generating FCF.

Here are the top rated in Stocklabs.
$EME $ROAD $PWR $FIX $POWL $WWD $TREX $SPXC

and some other notable FCF generating beasts.

$MLM $TYL $URI $PH $WSO $CACI $BLD $CSL $MEDP $USLM $ETN $TT $CMI $CW $TSCO $EXP $DHR $IBP $TTEK $GE $WAB $WMS $CRAI $IESC $OC $DOV $AIT

The only explanation for all of this greatness is the boom we are in that we (I) sometimes pretends isn’t happening because we (I) find something wrong with society that needs correcting. This isn’t a cultural or even a long term attestation of good times in America but a mere fact that certain areas of the economy are incredibly strong now.

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Scratched and Clawed Myself to Green

Methodically, I made sure I booked gains on this terrific market day. With the NASDAQ steaming higher and meme stocks on the mind of the Third Estate, it was rather a mundane affair to extract money from the tape today. I closed out the session +53bps, 115% long and I did bring some $GME, $BB, $IQ and $RUM into tomorrow.

Much of what you are seeing now is being fueled by the derivative market, lunatics buying calls and increasing the gamma, pressuring shares higher. It’s all very high finance stuff, which would fall on deaf ears, akin to explaining calculus to mentally retarded people.

There is a bias higher. The breadth wasn’t terrific today, closed at 52%, yet many are excited about what happens next. This heightened sense of awareness in people creates opportunity, permitting a whack a mole quality in the tape with traders wondering which stock is the next to go.

The good news for me, I erased my losses for May and now have gains just under 1%. The bad news is, my gains are comically inferior to whatever this is, grandiose moves in the underclass. I am emotionally torn between my high finance trading and my middle class upbringing which craves for aspiration and the ideal of becoming something or someone great.

Either way, things are going in th right direction and I can only hope that I made the right decisions to navigate what is going to be, almost assuredly, extremely volatile days ahead.

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The Meme Craze Isn’t Over

Although I’m not advocating to be long bad companies like $GME or $AMC for any significant length of time, today’s drawdown is most likely a pause in the fire that recently started. The difference between what I believe and what others are telling you to do is that I am just renting these fuckers and have very little interest in enriching the CEO’s of these companies with an opportunity to sell stock to the public. Bear in mind, by elevating the shares of $GME to unnatural levels, not only are you “having fun” but also providing the impetus for the CEO to sell shares to the public to raise capital, quite literally using all of the unsuspecting $HOOD traders as bag holders.

The way to mitigate this possible occurrence is to 1. only trade with money you can afford to lose and 2. book the profit.

There are some stocks I trade that I might’ve made 300 points in the name, but not continuous, doing so in dribs and drabs with risk mitigated by the holding duration or size of the position. What I am advocating against is you believing this to be a world changing event, that once you gun $GME to $500 all of the fucking trannies and meth heads littering your streets will magically disappear. This changes nothing, other than the digits in your account.

That being said, I had some bullshit overnighters and with today’s open I had to buy some real stocks like $AMGN, $GS and $CRWD in order to make up some losses. I am down 23bps and 100% cash, looking to get back in.

The meme stock trade isn’t necessarily for me, which is why I tend to play on the edges of it, names other than $GME or $AMC that might see sympathy bounces. Nevertheless, I am not opposed to trading anything on an intra day scale, just somewhat reticent to hold them overnight due to my serious trading nature. Unlike you, I am not a fucking clown and know what I am doing.

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LESSONS WILL BE LEARNED

Many of the meme stocks got hammered into fucking pieces from their session highs, many closing 30 to 40% OFF THE HIGHS. This is what you get when retarded people without class or a modicum of expertise enter the fray, inexorably to get bogged down in the very worst stocks known to mankind.

If you think about it and I mean really really think about: you are doing exactly what the elite want you to do, take your hard earned money and toss is stupidly into fires. Instead of creating generational wealth that can position your offspring to compete, you instead opted to do final combat in a shitty movie theatre or gaming stock. This is why we are here: subjugated and under the yoke of malevolent people both censored and oppressed because those on the right LACK RESOURCES and are generally poor.

When I say “poor” I do not mean it in the literal sense, as some of you have expertise and make a decent living. But you are spiritually bankrupted and depraved, a shadow of the person your grandfather was, mostly due to comfort.

Hard times make good men and I’m afraid the lot of you imbeciles will not learn the lessons needing to be learned via a meme stock short squeeze, but instead when you’re relegated into obscurity broken and cast upon the rocks of hardship.

True wealth is built over a generation or two, passed down through the bloodline to be used for education, activism, business etc. The idea you are doing to beat “the man” by way of making $GME run higher, run by retarded CEO Ryan Cohen, is in fact laughable.

I closed the session +79bps, long a pastiche of shit but also 70% cash.

Good day.

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ALERT: Super High Risk Environ Persists

I know you’re having fun with your bullshit 4 figure accounts, taking it to the man. But I am here to remind you that “the matrix” always wins and the periods of time when the plebeian class investor reigns supreme is almost always fleeting.

But because of this new environ fueled by angry mobs of Redditors and Xers wanting to express their disdain for the status quo, we have created an environ of very high risk for traders. The Exodus out of normal stocks and into complete bullshit, like $KOSS, $GME, and $AMC, means that when the Third Estate liquidates to finance their chicken nuggets diet, all hell will bust loose to the downside.

Bear in mind, I do not know when this will end and it could last much longer and I hope it does. But I know how it ends, the way it has always ended throughout time, with rivers of tears and ruin as the canaille are once again CRACKED ASUNDER by those with greater means.

I had tried my hand in numerous trades today, but I keep missing the pivots. I didn’t have the balls to buy $FFIE, now up more than 300%, and I most certainly will not buy $AMC or $GME up here in spite of the vibe. Unlike many of you out there in the wilderness, The Fly is a professional of the first order and will not be tricked, or fooled, into retarded gambits.

+70bps, 85% cash.

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PANDEMONIUM BUSTS LOOSE ON WALL STREET

Shorts are having their cocks eaten for them this morning. It’s populism but with a capitalistic twist. Mad lads heading out there and voting with their money to destroy the elite. I know some of you do not think this way —- but rest assured that’s exactly what $GME and $AMC +100% mean.

The elite might hate us but we also hate them. Whenever and wherever the battlefield is to the advantage of the common man —- they will eat the rich.

That being said, heavily shorted stocks are +7% on a median basis today and it’s not just GME. It’s names like $BIG $SPWR $PLCE or $HOLO.

Hedge fund managers are covering their shorts en masse now, ahead of any squeeze — for fear their positions might be targeted next. It’s literally open season now.

I sold all at the open except for 1 position: $RUM, which I’m hoping will also undergo a short squeeze, especially since it’s heavily shorted and also hated by elites for providing the plebs with a venue to exercise free speech.

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Hoping for a 2021 Redux

I ended up getting sucked into some low market capped trades, successfully, and closed the session +94bps. My losses have been reduced to under 60bps for the month and I will not rest until those frowns are turned upside down.

I ended the session with a super aggressive portfolio of shit, mostly geared towards quick flips. This can work out very good or very bad for me, all determinate upon the Gods.

On the whole, the market was extremely lackluster, other than the fact that $GME, $AMC and other meme related stocks blew the fucking brains out of short sellers. I am not negative on this move because the nature of short squeezes implies people to react to fear and/or pain. After such large directional moves to the upside, there are many many hedge fund managers praying to God for respite right now. If in fact we see a continuation of the $GME/$AMC rally, we might begin to see a truly ribald tape, whereby short sellers are executed in the public square and normies stream out from there hovels to declare themselves to be day traders again.

I truly welcomed this possibility, reflecting on fond memories of 2021 when the world was upside down fucked but money was extremely plentiful and markets magnificent.

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