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
23,376 Blog Posts

Hold Your Nose and Jump In

The reason why I sell almost all of my stocks every morning is due to a sense of dread that I cannot shake about the market. I see a shoe dropping around every corner. Every large red candle is a collapse. I find it hard to buy into a tape as obscene as this one and fully expect, at some point, to bear witness to another full blown rout.

HOWEVER, in the meantime I have a job to do. Sometimes I’m not so sure what that job is anymore — but I think I have one. Ergo, I follow the trend and buy stocks even though I don’t want to. I let the trend direct my trades, not my ego — because experience over a lifetime has proven to me that is the best course of action.

Last night Biden mumbled through his state of the union. No real surprises, other than the fact he didn’t drop dead during the live broadcast. The political situation cannot be worse; but I keep telling myself “you live in an economy mic zone, not a country” and that’s keeps me sane. If you, at any point, pretend America has agency or sovereignty of self governance you might become bedraggled my morose thoughts — since nothing makes sense. The market doesn’t make any sense either — but I just hold my nose and jump in anyway.

+31bps early going, mostly cash.

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WAITING FOR BITCOIN TO BUST LOOSE

My Solana position is cresting higher again and all of the alt coins, or at least some of them, are rather enjoying their time in the sun — basking in the glory of an effervescent bull run. It should be noted, $BTC is consolidating recent gains and all of the price memory at its previous highs are being digested now.

Once we get the sellers out of the way, I fully expect $BTC to pitstop at $75k, en route to $100k. People like round numbers, and so do I. You can look at stocks busting out past $100 or $1000 and track them weeks after and find the returns become both predictable and ribald.

During this session, I’ve bee trading my way back a bit, down 37bps, up from -90bps — due almost entirely to $VKTX collapsing like a fat fuck sitting on a weak lawn chair.

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Skinny Guy Caught Leaning Heavily into the Fat Trade

All I wanted was one more day.

I leaned into $VKTX yesterday with a 6% allocation with the simple mindedness of wanting the fucking stock to drift a little bit higher above $100 and crest. At which point, I envisioned myself eagerly selling and thanking the obese for their service.

Instead of any of that happening, it’s pandemonium at House Fly with $VKTX plunging through the fucking floorboards, heaving lower sloppily based off GOOD NEWS from the ozempic King, $NVO.

Naturally I glared at $VKTX down 14% at the open and wished to the Gods for a small bounce, at which point I’d sell it and regret ever looking at the ticker. But instead of that happening, the Gods offered me another 4% lower for my troubles and I sold it there for a nice fat loss.

I had very nominal overall losses of 35bps until $BTC splashed lower with a red candle from hell itself. So now I wait for its recovery, as I am handsomely saddled with a 12% $BITX position.

Wish me luck!

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Establish Accounts to Release Your Inhibitions

If you’re a strong trader you will find your trading accounts will almost always outperform your longer term accounts on a long enough time frame. Vice versa, if you’re a poor trader. For anyone delving into the world of personal finance, I strongly advise that you keep separate accounts for long term ideas, experimental practices, and trading. This way your focus is clear and the mandate for those accounts never get muddled. I cannot tell you how many times, when I was younger, that I violated the ethos of my accounts — thinking of XYZ as “long term” only to later on be lured into another stock and missing out on the long term success of XYZ.

Set static rules for your accounts and stick to it. If your thought process for $BTC is capital gains — you’re looking at it wrong. Bitcoin is a current hedge. Each day of work you make dollars and those dollars, hopefully, increase your net worth. If preparing for a Mad Max world where the dollar will one day be worth less — it would BEHOOVE you to not maintain a percentage of your liquid assets in what you deem to be a currency hedge. Ergo, maintaining a 5 or 10 or 15% allocation into $BTC should be a life long journey and process.

Same could be said about conviction long ideas. Perhaps $VKTX is too volatile for short term trading accounts. But what if you believed their obesity drug was life changing. Drop it in your long term account at 5% of assets and should it get mired in a sell off and cut in half — determine to bring the percentage back up to 5% with an average down.

To be content when trading is hard. Today I only made 12bps because I didn’t see the market well. However, my quant made +130bps and my longer term strategic account +90bps. Emotionally, the success of those accounts made me feeeeel better and I understand that, in regards to my trading, it’s only a matter of time before I see the seems on the ball spinning and will crush it out of the ballpark.

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Cryptos Will Leg Up Again, Soon

Rest assured, the recent surge in $BTC is just the tip of the iceberg, a teaser if you will. The initial shakeout was classic, followed by, but not limited to, texts from distant cousins asking about $SHIB and the specter of it going “to the moon.” In the larger scheme of things, the volume memory of $BTC and other major cryptos have all but vanished and all there is from here is air. It might sound befuddling to novices, such as yourselves — but $BTC is, in fact, just getting started.

Peering into the future across a war torn ruined landscape, Bitcoin at $1,000,000 per coin and dollars worthless except for the tinder they provide as fuel to start BBQ’s — you will rue the day I made fun of you for not owning it — instead relegated to an ignominious death amidst caitiffs and swindlers.

I tell you this now, not to make you feel bad or to boast about my success — but with a charitable Christian heart to help those living in the dark, cavernous dwellings replete with porn, GMOs, and bad coffee.

Free yourselves from the shackles of the Federal Reserve and cease cuckholding yourselves to evil. BEHOLD the global movement out of fiat currencies into Bitcoin — envelope yourselves as a maximalist and work hard and be industrious with a goal to destroy your enemies.

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Warnings Were Issued — You Have Only Yourselves to Blame

Listen to me —

You could invent immortality and live for the next thousand years, toiling in the market and truly perfecting your craft — endless hours by the Bloomberg terminal in a never ending quest to perfect the art of money management — and you’ll never be as good as me.

Babe Ruth wasn’t taught how to hit homeruns — he always had it in him from birth. Whilst some of you are excellent line cooks and street cleaners, I excel at money management.

This afternoon I issued an alert to sell Bitcoin, and I quote.

The Fly Today at 9:59 AM “I sold ($BITX) because we are right near it (record high). I bet many a retard intends to sell at 70k”

Throughout the balance of today’s session, I ebbed and flowed and then peered into the future and envisioned a rally towards the close. I cobbled together $700,000 and applied it long and closed the session +37bps in what can only be described as a ruinous session for many a bull. Looking once again into the future, removing the curtain between time and space, I see further gains and have positioned myself 70% long and 30% cash — with a portfolio beta of about 1.1x.

It would BEHOOVE you to believe we are about to be racked with losses when $SMCI and $NVDA refuse to budge. There is a great rally happening now and it has been happening since November. The idea of a full collapse, although intriguing and filled with promise, is pre-mature.

Good day.

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Sold My Leveraged Bitcoin ETF

Full disclosure: I’m long $BTC from $26,000s, $SOL from $60s and have no intention of selling. However in my longer term and trading accounts I owned some 2x $BTC $BITX and I just sold them for handsome profits due to the possibility of some selling pressure once Bitcoin crests above record highs.

I’ve actually went to 100% cash in my trading, which isn’t unusual with a gain of +52bps. I’ll likely do nothing for a few hours in order to trade less and not churn myself without purpose. I don’t like the tape, sans cryptos. I’ll wait for a better set up.

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Back to Recourd Highs — Just Getting Started Here

There are those amongst you (please step forward) who will say $NVDA, $ARM, $SMCI, $SHIB are ‘just getting started’ and will attempt to cajole others to ‘board the train before it leaves.’ The fact of the matter is, we are in the 8th inning, if not later, of this run. We have cracks already in the Magnificent 7, with shares of $GOOGL and $AAPL leading weakness to the downside.

Nevertheless, I cannot outright sell short without upside hedges — because during market manias logic is suspended and momentum is all that matters. I am 12% weighted $BITX, positioning for another GIGASPIKE through record highs tonight. And I am hedged via $SOXS and $LABD — because fuck the semiconductors and fuck science.

I gained +72bps today and closed at all time recourd highs. I have been at recourd highs for many months now, rarely going a few days without a surge. For those who believe me to be locked in only due to an accommodative market, I entreat you to read the archives and learn that I’ve been locked in since birth.

At some point investors will come to learn the Fed isn’t cutting rates and markets will price it in. I want you to understand my mental state that is juxtaposed against the physical. I lean long and have made money long and will lean long 90% of the time, only because that’s where the prevailing winds are blowing. My feelings can never get in the way of my actions, and so I allocate into a burning building hoping to escape the flames and retard the fires long enough to tell a tale about it.

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SHITCOINS ON THE FUCKING MOVE

How many of you are poised to become $BONK billionaires? Are you back and involed in $SHIBU? When was the last time you bought some $UNI?

We are in the laughing gas phase of the SHITCOIN rally — all propelled higher by the principle coins $ETH and $BTC.

A maximum amount of wealth has been made in $BTC and that money is now being diversified for fun, shits, and giggles into various alt coins. Here are some winners in the past two weeks.

Even $DOGE is +77% the past week.

Cryptos have entered into rarified air again, a seemless vaccum of expansion predicated upon feelings and liquidity. The market is supporting this risk on adventure and although I’d love nothing more than to see it all collapse — I am rather enjoying the over abundance and decadence in the sector — reminiscient of better times when things were good and they were going to stay that way.

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I Collapsed My Grandiose Gains This Morning

Have you ever had BIG DICKED gains in the pre-market and early open only to quickly see them dissipate and collapse and cause you to want them all back, which in turn causes you to make mistakes? Well, I presided over the open of trade +150bps due to a 12% position in $BITX, racing off the back of $BTC surging higher. I was feeling grande and felt, if I am being honest, nothing could stop me.

The only problem with that were the other 12 or so positions that tanked at the open, causing me to chase them down the drain — selling them almost in a frenzy — seeing my gains really cave in and now stand at just +18bps with only $LABD in my account.

Typically what happens on days like this is I get really mad and over-trade into a maelstrom — mounting losses of the largess varietal. However, I don’t give a fuck about getting back the 100bps+ of gains that pretended to be mine at the open. They were never mine to begin with and if I go about my day attempting to retrieve them, I will almost assuredly do injury to myself.

After the market collapses a little here, I will close out my $LABD position and fuck off for a few hours — return later on with a clear mind and a stable market — willing and able to incrementally increase my returns.

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