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
23,585 Blog Posts

ALL IN

While you pussies fretted in the crevasse, wondering whether or not stocks would trade up some more Le Fly pressed down on the fucking gas in a car made from dynamite heading for the sun.

The NASDAQ crested +329, one day removed from Stocklabs flagging an oversold signal.

Now a more careful man might’ve taken profits and stepped aside into tomorrow. But you’ve never met someone as greedy as me. With that in mind, I ride into tomorrow 100% long with a portfolio beta of 2.

Who can stop me?

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Trend Day

After selling the morning spike I got FOMO by 10:15am and made my way right the fuck back into equities. See pal, that’s the type of person I am and you’re nothing. I stand before you +175bps in trading and +270bps in my automated quant. This is what you might call a “trend day”, when most important stocks go up.

This is also a good day to cull what is not moving higher in your portfolios. There isn’t enough time to wade through the bullshit. If you’re in the process of composing yourself in a manner befitting of a gentleman, you will, in fact, be treated as such.

If you go about your day sojourning in degeneracy and filth, penny stocks on margin, you will be treated as such and you’ll value yourself less than others, feeling inadequate in the shadow of giant, persons such as myself.

DO NOT BE FOOLED into thinking you cannot trade in a magnanimous manner, such as I. However possible, you need to separate yourselves from the chaff and the mentally insane. We have one human life; do not spend it in the confines of depravity, comporting with low level unskilled laborers whose daily highlight is to swig down a can (red fucking flag) of Tranheiser Bush.

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Moved to Cash, Will Revisit

When day trading I can’t tell you how many times I got complacent and watched a nice gain turn into a depressing loss. Because this feeling is etched into my DNA as things to avoid, I almost always liquidate my entire portfolio in the morning of a solid open. Often times the market fades at the open, sort of like today, and then surges back mid afternoon.

I’m starting with gains of +105bps for the session and I took that as an excuse to step aside and into cash, holding just $NEXT as a lotto ticket, and will revisit the tape later on today.

The impetus is to lock in hard fought wins and don’t permit the market to squander it and have that feeling of regret in the pit of my stomach.

My long term accounts will do whatever the market does and I rarely tweak them more than once per week.

I thought the tape was going to be better today. But, so far, it looks like more of the same milquetoast with 47% breadth, concentrated strength in larger cap tech. It’s really just summer trading early, with junior at the trading turret doing his usual bullshit.

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EAGERLY WAITING FOR A BITCOIN GIGASPIKE

Full disclosure:

I traded perfectly today until I took a 15 min break to eat. I had traded back to green from early losses and then felt comfy enough to load up on $FNGU, since all of the FANG stocks looked great. Aside from that, I was loaded with some $BITX and $RIOT and felt generally sanguine about my prospects. I went into the roasted beef sandwich with a feeling of supremacy.

Upon returning back to the trading turret, I was completely destroyed. A massive red candle consumed all of my efforts and more and I ended the session off nearly 70bps. This is what happens when you’re day trading. If you’re not glued to the fucking screen for every minute of the day, danger and catastrophe can strike at any moment.

When I get back into proper money management, I’ll need to deploy a hybrid model and I am somewhat into the weeds of finalizing said stratagem.

At any rate, today’s loss isn’t so much a monetary set back as it is an emotional one. As such, I’ve pinned my hopes and dreams on a GIGASPIKE out of $BTC tonight and really would like that to happen, as it would immediately make me profitable and then I’d feeeeeeeeel really good about myself.

I understand many of you reading this are financially illiterate and scoff at the idea of trading in a RIGGED stock market. But that’s even more reason to trade stocks, knowing it is rigged.

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Are We Pricing in a Trump Prison Stay?

I know so many of you republitards have hope for the judicial system and that Trump will be ‘vindicated’ and he’s not going to jail. But that’s where you’re wrong and that’s why you’re weak. Hope equals weakness. If you want something, you have to go out and get it. No one is going to give it to you out of the kindness of their hearts. Trump is heading to jail for the remainder of his life and you’ll just vote even harder next time to make sure it never happens again.

I don’t think we’re truly appreciating the spectacle of Trump and how this portends to the end of America as we know it. Gone are the days when America was a benign clepto corporate hegemony ruled by a select few for the benefit of the “elite.” Now we are a highly intrusive, highly tyrannical, highly criminal element in government hiding behind the guise of equality and feminism to soften the veneer of their evil. They want your guns and then they’re going to shoot you with them.

That said, have markets truly priced this in yet? Let’s say Trump gets 500 years in prison and the RNC decides to ignore the voters and appoint Haley as the candidate by default. Would you be surprised if that happened?

See the problem most people have with the govt isn’t because “the elites” are hogging resources and wealth all to themselves. The issue most people have is they suck at what they do. It’s like managing money for people. If I managed your money for 20 years and did a fantastic job and then all of a sudden lost you 50% inside a few years, you’d be pissed and likely want a new manager. The same logic applies here: the conservative right is being taxed, but not represented. Sound familiar? I think it should.

All we want is to be left the fuck alone and for the nation to flourish in peace and magnanimity. We do not want white people erased from the face of the planet and would prefer if our children weren’t targeted with gay propaganda? Is that too much to ask? Oh, and if you could, try to avoid entangling our men in your fucking wars in the Middle East or wherever you deem it necessary to defend the wonderful grift called “democracy”, which is, as you can plainly see now, a highly flawed and absurd form of government that produces nothing but division and status quo.

The reason why America sucks now is because it is a democracy. Let that sink in for a moment and think about pricing that in to equities as we near Trump’s sentencing.

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Utter Collapse in Commodity Space

For reasons that escape me at the moment, we are seeing terrible action in the commodity sector and it’s not just limited to the oils. Oil is down about 9% the past week followed by silver down 8% and copper down 6.5%. The US 10yr is also coming in at 4.35%, just in time for the summer housing market.

My take is more constructive than others. I think this action is merely revoking the recent upwards surge in commodities, which was predicated on the notion that inflation was making a comeback. Bear in mind, copper was +5% in March, +12.7% in April, and flat in May. This move lower, now just off by 1.5% for June, is nothing in the big scheme of things.

Same goes with oil.

Jan +6.4%
Feb +3.4%
March +7.3%
April flat
May down 4.5%
June down 5.3%

We are getting back to where the rally started, rendering the commodity space, in my opinion, an undesirable investment. The good news is, the drop in commodities is a net benefit for the consumer, as well as the drop in rates. In other words, the action is poor in commodities, but this negative sentiment should not shift into the general tape.

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Back in the Wheelhouse of Redemption

What an insane fucking day. We went from ripping higher in the morning to sheer collapse in the afternoon to meltup at the close, with the NASDAQ +90 and the Dow mostly recovering its 400+ drubbing. In a tape like this, it’s easy to get raped if you’re playing both long and short.

I got a little bogged with some shorts initiated at or near session lows, and ended up giving back much of today’s gains. It was an indecorous day for me, since Stocklabs was down for the past two days. I am simply incapable of functioning without it and do not know what to do when it’s down. I won’t get into the details as to why it was down, just know we are back up and running now.

I finished the session +27bps and 105% leveraged long because there isn’t a reason to sell stocks, especially after seeing shorts get their hearts ripped out from their chest cavities today.

Although Hello Kitty is back with $200m in $GME and I hate the distraction, we are inexorably long and bullish into what appears to be a collision course of civilizations which is sure to bring tumult and violence of an unprecedented scale. I would not be surprised to see the planet rocked by asteroids soon, plunged into a permanent ice age and still bear witness to stocks hitting record highs.

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Stocklabs is Back Up

We are back up. Thank you for your patience. There are still some bugs to work through; but at least we are back to trading and talking EXTREME SHIT again inside out denizen of profit and greed.

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Update on Trading Session

We have numerous trading halts and the NYSE was broken for much of the morning, post $GME ramp. Since mid morning we’ve been diving lower and I have been trading frantically in an effort to stem the tide. My gains have been reduced from +0.75% to 0.3% and I am trying my best to be patient. However, the plunging nature of the market makes it difficult, with the down now off by more than 400. We went from risk aversion off to risk aversion on to collapse. The varying degrees of trickery are at play here and in abundance.

Nevertheless, I remain hopeful we can stabilize into the waning hours and produce something less than disastrous here. There are plunging bond yields coupled with plunging oil prices and cataclysm in the markets. If I didn’t know better, I’d say markets were pricing in a slower than expected economy, which only makes sense if you take the PMI numbers seriously and ignore earnings reports at $NVDA, $DKS, $BBY and other quarterly beats.

To make sense of my trading session, I will list my buys and sales here and open positions.

Opening positions were liquidated:
BITX sold 47.96
QCOM sold 209.9
TSM sold 156.56
TGT sold 151.93
BAC sold 39.98
HD sold 331.51
FAST sold 65.97
ADM sold 61.95
EBAY sold 53.98
RTX sold 107.66
BJ sold 87.3
HAL sold 36.5
BOOT sold 122.37
EXPE sold 114.23
CL sold 92.35
ULTA sold 391.4
KHC sold 35.21

Day trades
b byon 15.73
s byon 15.77

b sq 64.44
s sq 63.98

b tjx 104.63 open
b regn 997.23 open
b qsr 69.77 open

b se 68.68
s se 69.32

b bynd 7.88
s bynd 7.74

b okta 90.57
s okta 89.27

b fslr 276.67
s fslr 279.38

b mrk 128.65 open

b uvix 6.38
s uvix 6.51

b uvix 6.47
s uvix 6.63

b apd 270.47 open
b lly 831.95 open

b biib 232.25
s biib 228.34

b kmb 135.36 open

b etsy 64.39
s etsy 65.13

b meta 478.67 open

b hood 21.61
s hood 20.84

b lh 197.72
s lh 195.29

b mu 127.16
s mu 125.79

b fslr 281.22 open

b tza 18.18
s tza 18.49

b sqqq 10.18 open
b sqqq 10.23 open

b byon 15.65
s byon 15.51

b lot 10.09
s 1ot 10.40

b soxs x2 28.77 open

b sq 64.33 open
b etsy 65.38 open
b duol 197.19 open
b pm 102.16 open
b bitx 45.34 open

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FLY BUY: $TZA, $UVIX, $APD, $LLY, $BIIB, KMB, $QSR, $BYON, $ETSY, $META, HOOD, $LH $mu

I bought $TZA for a hedge at 18.12
BOUGHT UVIX AT 6.38
BOGHT APD AT 270.47
BOUGHT LLY AT 831.95
BIIB AT 232.25
BOGHT AT 135.36
BOUGHT QSR AT 69.77
B BYON AT 15.65
B ETSY AT 64.39
B META AT 478.67
B HOOD AT 21.61
B LH 197.72
b $mu at 127.16
b fslr 281.22

bought $tza back at 18.18
B UVIX BACK at 6.47
b sqqq at 10.18

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