TECK REKT; OIL SURGES — FLY WINS AGAIN

This is getting repetitive, isn’t it?

Tech stocks down; oil up.

I am 75% cash, with a 10% weighting in GUSH.

At the moment, it’s higher by nearly 9%. I’m sure there are reasons as to why it’s higher. Let’s keep it simple: it’s an oversold bounce and I happen to be at the right place at the right time.

Overall, markets look poor.

Last year this time the world was immersed in the glory of the bitcoin. Everyone I knew was tossing income into this great new investment vehicle, chiding me with their fat faces filled with glee because I stood firm in the belief that it was all a rotten scam and instead favored stocks. Back in my hometown of Brooklyn, the corner stores had dollar for bitcoin conversion machines at criminal mark ups. And people I met at cocktail parties all had an interest. One lad I met had recently left a plush job at Goldman Sachs in order to open up a mining operation in Bushwick, Brooklyn.

It was all a god damned hoax and that trick was made comical by the meme pushed hard by late comer idiots, “HODL”. They wanted to “Hold Onto Dear Life”, selling out of their stocks, bonds, even selling their homes, because Bitcoin was going to change the world and the way we did business.

The only thing that changed was the speed at which idiots lost money. From top to present value, losses stand at a staggering $600 billion.

What was the crypto space, now with the benefit of hindsight?

It was a honey pot designed to attract the rebels in our society, the men and women clad in burlap’d dinner jackets hoping the Federal Reserve would catch fire by an arsonist and the entire model of western finance burn to a deep, crisp, cinder. All of those people were lured into an investment vehicle and then said vehicle crashed into a wall made from stone, killing everyone — no survivors.

The Hang Seng is down more than 500 points this evening, as Chinese related shares get routed. There isn’t a trade deal on the books and Trump might get himself impeached, should the dems snatch his weave on Tuesday.

Dow futures are -90 and WTI is off by nearly 1%.

This is precisely why I’m 75% cash and supremely positioned to buy dips. You’d have to be an absolute jackass to buy stocks ahead of the mid-term elections. Too much noise. Too much drama.

If you’re following along, tomorrow we will cavort and sashay in Exodus and behave like the distinguished gents we are. Perhaps we’ll drink some claret, or maybe something a little stronger, like a port. Either way, tomorrow I expect to do nothing at all. I bought some smoked salmon this evening and will be eating it tomorrow, alongside some really good toasted bread and a squeeze of lemon and olive oil.

“The Fly” is a man of modest needs, but mammoth desires. You’d be wise not to bet against him for any extended period of time, else end up on the receiving end of a massive clawhammer, magnum class, to the fucking face.

Nite

The Turkey Gods are coming.

What does that mean?

It means very soon people will be fat faced, crammed to their gills with stuffing and cranned berry sauce, too circumspect to think about shorting stocks, or even selling them for that matter. The idea of Santa Claus barging into their homes with his pack of feral reindeers, shitting down the fireplace, is reason enough to rally into the year end.

It’s simply un-American to not own stocks heading into this grande tradition we’ve established, commiserating the time we kicked natives off their land and into graveyards.

Here are the best/worst performing sectors, historically, for the month of November.

Some top performing stocks.

A look at the semis.

Barreling into tomorrow, I suspect we’ll get some volatility, which is code talk for sharply lower prices. I’ll probably buy said dip and then solidify my position for the balance of November as being hypo-bullish, hell bent on the destruction and complete annihilation of the bears.

It was a haunting week (sorry I had to), and stocks stared into the watery graveyard of yesteryear and punched Satan in the cock. The Nasdaq is higher by 4% the past week, ending on a sour note — but we bounced. Didn’t we?

ChartFAGS will be jerking off to this pattern over the weekend.

Quants will be reloaded and stops placed just below $165 on the Qs. You should be prepared for another retesting of the lows, perhaps reach new lows, should we breach the $165 level.

On a more specific level, we absolutely crushed the tape in Exodus and hopefully here on the free site. We got out of the inverse ETFs just in time for the rally and then loaded the fuck up into the turn. I booked massive profits and moved to cash on Friday, just before the market turned lower.

Was it luck?

Fuck off. I’ve been doing this long enough to realize that what I do is skill, countless hours of repetition, enduring hardships, absorbing information on an industrial scale. I’m gonna try my best to show you the rigors of learning this business in my new service, scheduled to launch by Thanksgiving. But just know, I’ll punch your jaws loose if you waste my time by falling back on your sophomoric habits. It’ll be like Gordon Ramsey’s restaurant makeover, only for your trading routines.

For the week, my Bubble Basket was +11.5%, FAANG +4.7%, Semis, Copper, Cannabis all higher by 12%, etc.

We’re good for now. No need to overanalyze this shit.

I don’t think it’s wise to short here, or be very long. After an initial bounce off the bottom, it’s wisest to step back and see if the market will follow through. If I see that it wants higher, I’ll reallocate into the market.

For those who don’t give a shit about short term trading, those with real jobs and limited time, don’t panic yet. These sort of drops are rare and often trick people into fucking themselves by selling at the bottom. We’re heading into the best months for stocks. You’ve come this far and have endured a retarded move to the downside; you might as well wait a little bit longer and see if markets can recover.

Listen to me now boy, you cannot buy this dip, barreling into the mid-term elections. It’s pure madness atop of stupidity.

Here’s the President, making a joke out of Iran, stealing the trademark property of HBO.

pic.twitter.com/nk2vKvHuaL

— Donald J. Trump (@realDonaldTrump) November 2, 2018

And then there was Kudlow throwing a wet towel on the possible China talks. Bear in mind, this was news that was leaked last night at 1am, the very reason for the early rally.

Wait, there’s more…

Just before I was about to publish this post, Trump gave a press conference and said he was close to a deal with China. He’ll be having dinner with President XI at the g-20 and basically said we don’t need them, they need us. Their economy is in the shitter, while we’re booming.

Watch.

Go in peace.

Booked gains.

TQQQ +16.05% (double sized position)
UPLD +6.8% (double sized position)
ZUO +9.6% (double sized position)
NTNX +18.5% (double sized position)
LABU +26%
DATA +11.1% (double sized position)
HUBS +11.5% (double sized position)
ZEN +0.4% (double sized position)

No judgements and I don’t have a bias on the market. Don’t care. I had short term gains and I remember the anguish when I bought these stocks, thinking I was doing something ruinous. I appreciate the inherent skills that have been bestowed upon me and I reckon it’ll be a fine weekend, now 75% cash, only long a handful of stocks and just one upside ETF — GUSH.

If you followed along, God speed. People always complain about not knowing when to sell. The short answer is, sell when you have a nice profit.

Apparently, adding 250k jobs to the economy is bad news, since it means the Fed is going to ruin things with more rate hikes. Understand where we are now on the narrative, with the Fed posing as a risk to the market. Moreover, traders are presently obsessed with the 10yr bond and believe all hell will break loose if it gets to 3.25% again.

Right now we’re at 3.17%.

It’s Friday. We had a good week. Take profits.

The Apple earnings and irrelevant to the overall scheme of the market. However, they will move the indices and because of their heft; they will adversely affect my TQQQ position.

Apple should not be bought on dips. Moreover, after careful consideration, I’m set on liquidating the lion share of my blood buying sprees of this week. My profits should be immense and I do expect fuckers to buy dips on the opening tick, which will provide opportunistic predators, such as myself, an opportune to liquidate.

There is more upside left in the market; but I will not attempt to time the top.

Here is my bounty, with cost basis for my transactions affixed. For those unfamiliar, all these trades were disseminated in real time and time stamped in Exodus. Start a free trial you miserable misers.

Stock/cost basis (these are all 10% positions, sans LABU which is 5%)

PDD/ $19.55
MOMO/ $35.58
TQQQ/ $47.05
LABU/ $47.05
ZEN/ $56.1
UPLD/ $30.87
ZUO/ $19.31
DATA/ $98.90
NTNX/ $37.4
HUBS/ $128.05

With today’s booked profit in FIVN (+5.5%) and SOXL (+25), I am now 21 for my last 21.

That’s right, in the midst of all the smoke and carnage, Le Fly is 21 for his last 21.

Good day.

NOTE: The trades behind these were all inverse ETFs, which were all sold at a profit except FAZ. My largest gains was DRIP, +12.5%.

GOOD DAY, SIR.

I booked the SOXL trade from two days ago, for an outrageous +25% return. Since this was a 10% position, I am pleased with the result, more than you know.

With the proceeds, I stepped in and bought GUSH, another 10% position. The idea here is higher prices and a seasonable ebb in the oil trade — turning up into the winter months. Of course I won’t hold it for longer than a week — but this is what I say to myself to justify the trade.

I believe markets will trade up strongly tomorrow, once again relegating the bears to the shit-heap of history. However, I’m a seller on an opening spike tomorrow.

Good job for those who made it through the meat grinder. The most important thing during sell offs is to survive and be confident enough to buy the blood. I did so with vigor and tenacity and have, once again, solidified myself as the great living stock trader, possibly the best finance blogger-trader in the history of the world.