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
20,864 Blog Posts

It’s Sometimes Best to Be Early

Utilizing my new We Bull account I am able to trade as early as 4am. I house my YOLO overnight account there and have been utilizing it to sell fast and early on overnight trades. At 4am all pot stocks were up massively. I had ZYNE and HUGE both up 20%+ and bore witness to a hard fade by the time the faggots as Schwab got around to selling the stock at 8am.

I can tell you the volume is thin, but if you have an extreme runner, having the advantage to sell whilst everyone else is sleeping like a pussy is definitely worth your trouble.

If of course you value sleep over money, then go ahead and lose money in pot stocks at 8am.

My trading is up 200bps, YOLO off by 1%. I had to close out inverse ETFs this morning and pretty much sell everything in order to buy new stuff. I’ve been doing this for a while and I like the idea of renewal every single day.

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Booked +450bps in gains, an absurd 800bps in my YOLO overnight account. I eagerly await drawdowns.

I did close with roughly 40% cash, so I’ll have some ammunition to fire upon the market should it shit the bed tomorrow morning. We’re looking down the barrel of record stimulus — a COVID lockdown that seems to do nothing but annoy people and bankrupt small businesses in exchange for making larger ones larger.

The theorists will say it’s all part of the plan. At this point, what difference does it make?

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Every time It Ends, It Starts Again

Earlier this morning it appeared to be over and now it’s not. Momo stocks led by cannabis is squeezing higher. Stocks like TLRY and GME are in play again and all appears to be well. I am still FESTOONED with inverse ETFs as a sacrifice to the Gods to forgive me for my transgressions. My overnight account, which is very small, was +17% yesterday is up another 6.5% today.

My trading account, which is large, is up 3.9%, thanks in large part to this morning’s winners. My current positions are not doing much and I am inclined to trim my losers before 3pm. We all eagerly await action so that things might get exciting again and I am willing to lose 10% in a day for my beliefs. Nevertheless, we race forward trading space stocks and 3-D printers because the future is a concept worth believing it.

What started off as a mean reversal has proven to be a timid drawdown that is being bought. Into the close I will sell all losers and load up on some volume breakouts for 4am action.

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Everything is crashing into dust. Rookie traders stabbed into their stomachs and their lungs ripped straight out from their spines. Markets have indeed topped today, perfectly.

I’ve been trading since 4am, sold 14 stocks all up, some gains exceeding 35%. I was 100% cash by 9:45 before I started to dive back into momo stocks. And the collapse happened. I ended up selling it all, preserving gains of +310bps for the session. I had been up more than 6% at the highs, but markets have ruined an otherwise perfect day. I’m now festooned with inverse ETFs now calling for the sky to fall.

Naturally I am 0 for my last 100 in timing inverse ETF buys so this is likely a good time to start buying. But it pleases me to say “it’s over” because deep down we all want it to end.

Nevertheless, I have cash of 85% and will likely be chasing stocks higher later on today.

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I cast over 100 trades today, to and fro, ebbing and weaving — attempting my hand at extreme greatness. Hank Aaron was good at hitting homeruns and making pitchers look stupid. The Fly is good at banking coin in stocks and making all of his enemies look like cuckholds.

‘Tis my curse, here to make everyone else happy, providing households with splendor in exchange for gratitude. Nevertheless, happiness is a fleeting concept and overrated. I work to achieve arbitrary goals in an arbitrary setting in order to validate my existence via nonsensical benchmarks.

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What the Fuck is Driving this Lunacy?

A few working theories.

Massive “wealth effect” causing risk assets to surge. The wealth effect occurs when stocks are way up and degenerates peruse markets for greater gains.

Fed and government stimulus which has increased the money supply causing excess risk taking. This is classic inflations and we’re seeing it in RT in the markets.

Low rates. With rates this low, it pays to borrow to speculate.

The ancillary beneficiaries of the soaring market, presently valued at near $60 trillion, is the surge in cryptos and other non-traditional assets like art and other collectibles. The knee-jerk reaction is to fade this idea — because manias come and they go and they always go a lot faster from whence they came. But what is thew catalyst in the near term? We have a government on the cup of doling out another $1.9t and the ball is quickly rolling downhill.

At the end of it all is the notion of confidence. There is hubris embedded in this tape — extreme confidence. You cannot will it away. In order to break this spell, you’d need some significant damage to important momentum sectors.

My advice: keep going until it stops working.

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Listen to me. I have ascended to new levels of winship whereby I forgo bothering myself with pedestrian returns in exchange for the grandiose. I have numerous irons in the fire now and have been trading since 4am. I am presently soaring +570bps thanks to larger than life gains in KIQ +45%, DNN +14% and a pastiche of day trades that is frankly making my head spin.

GMBL +10.2%, BSQR +19.7%, EAST +15.2%, USWS +14.3%, GSAT +10.5%, KTRA +6.4%, BTBT +10.7%, SNDL +10% and lastly ANY +11.3%.

I could of course head back into the market now with the materials I have and make $15,000. Can you? Can you?

Playing a bull market is easy. We’re all millionaires and geniuses. We delve into shit stocks and come out smelling like roses. But can you complete on a level such as I am on? I severely doubt it.

Markets look to want to fade a little here. I am not going to predict a pullback again — because why bother? But I am 50% cash.

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With all of the wealth creation taking place, coupled with the vaccines and the prospect of normalcy, taking a shot with some low priced oils could be the next play. There is so much excess and hubris now, I cannot help but to feel doom is casting its odious shadow just around the corner.

But truthfully, even if the market collapsed 20% in a single day, I’d still come out way ahead.

I’m +96% YTD and was up 500%+ last year. Normally when someone says something like that eyes should roll — but given the absolute fuckery in this tape, I know you can see how it’s possible. I have never made more money than I am making now and I don’t want it to end.

My advice is to continue putting money into areas of the market that are working. I can help all of you morons if you like — but you’ll need to be inside The Pelican Room every day via Exodus.

God speed.

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This market had elevated all parties and anointed all to be masterful stock traders. I, for example, used to be content with 0.5% daily gains, equating to 10% per mo or 110% per annum. A fine return, no? However, I shit on those returns now, as I deem them to be both disgraceful and laughable. I now return a minimum of 5% per day, or 100% per mo, or 1,100% per annum.

Based upon that math, I will soon be a billionaire and with said wealth I do all sorts of fucked up shit. Can it last forever? I’d like to imagine it will. Why would I second guess it?

As we ebb into the final minutes of trade find solace in the fact there is a person out there, such as myself, winning at such extreme levels.

Into the bell, I like Biden plays and biotech.

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I started trading around 4am today. Being a man of distinction and panache, I of course traded out from DOGECOIN last night, via Mrs Fly, and can report back profits. This morning I sold out of everything and locked in 420bps of gains just before stepping back in for even moar.

Bitcoin and all other cryptos are careening to record highs, as well as gold, silver and just about everything else. I booked a 2min day trade in GMBL today for +11%, only to see it run another 15% in seconds after my sale. After I sold LIFE for a 15% gain, it too ran but even greater, up 30% from my sale.

This is the life of a top shelf day trader extraordinaire, profits are but a foregone conclusion. The only challenge is knowing when to pull the trigger and how much profit to extract from the masses.

I’m presently in hunt mode, 45% cash, intent on being all in by the close.

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