My aggressive Facebook short was too cocky and i gave a lot back but still made +.54 (2.7%) on the trade. How much did I give back to the market gods? MOTHER FUCKIN’ 6.25% BITCHES! This should be considered my donations to the poor for the decade, a damn 6.25% donation to the cock suckers who gets pissed at you when you don’t give them enough! And because I am an ignorant, cocky bitch ass, I added on too much risk but did not take profits b/c I was so biased and greedy that I wanted this thing to roll down to the lower teens. I should have set stops, but was too bold to recognize a potential squeeze. I know was a squeeze b/c I couldn’t buy back with a market order… ahem, 4 market orders to sweep my shares wouldn’t work; it was bullshit and you should have seen me banging on my desk wanting to punch my laptop in the FACE!

This is life, I am a stupid prick, and I deserved to make .54 instead of 1.25 a share; I could have lost it all and gave it all back if you watched $FB today. But good thing I had to give someone a ride today; this ride forced me to close my position and walk away — that was the MAIN reason I sold out. The tape was too bullish for me to walk away and not watch the screens, so I had to hit the ask when i covered, and after the 5th time after it broke back above 19.10s…. I was cleared at 19.23. THE SPECIALIST IS A CROOK!

Shit happens, move ON!
Lessons today:

1. don’t increase your risk appetite if you aren’t ready to lose it all — i could have lost it all and more if i left the position. I could have lost all of my profits and down over 5% if I didn’t cover my shares.
2. don’t be too biased or cocky – become liquid and trade both sides
3. protect profits
4. if you walk away from the screens, make sure you use stops!

 

Also, join me as I laugh at those suckers who were too greedy in SKUL; yes i left a lot of money on the table last week when I got out, but I know a lot of greedy bastards who tried to squeeze SKUL and it didn’t work. So when it cracked the 16 today, BAM! it ripped tits and made the poor poorer; good, those greedy bastards deserves it.

Here is my macro watchlist to watch for the week:

You MUST keep your eyes on Gold; if $gld pops above with volume and conviction, this can run up, CAN RUN UP by squeezing the shorts. I believe paulson and soros are both heavily in gold but to hedge their equities, but as a ZERO hedge trader, watch for the price and volume; SO SIT ON YOUR HANDS IF YOU HAVE TO. That will limit your risk if you wait for the volume, trust me.

 

Another sexy etn to look at, $TLT. the 20 year bonds are good if euro talks don’t go well tomorrow; this one should bounce with $GLD. Funds will sell their equity, and roll back into something more safe, the treasuries; again, watch for price and volume.

Last but not least, the $spy, just take a look at where we are now, descending volume with constant run ups… be careful; if someone pulls the rug from under, this will drop fast.

trade well my homiez.

As the market continues its bath salt rally, I was able to snipe out a short yesterday; a short that dropped 4.03% today while the SPY was up 0.13%; just imagine how hard $fb can drop if everything else drops too.

 

My target is around the 18s now since it broke the natural 20 level and the signficant 19.82 level. Two days of above average selling, downtrending, and breaking significant levels makes this one a good short.

Institutions are selling and it tells because of the increased selling volume, so it’s time to GTFO and let them sell; let this stock bottom out before you go long. It has not proved to anyone yet that it has bottomed out yet.

Here are some screen shots of Facebook going skydiving today in the morning.

 

Look at that insane free fall! Facebook jumped out of a plane today and just face fucked itself. Then mid-day, some people thought it was a good idea to bid before 19 to squeeze people; pffft.. did they learn their lesson — i hope that closed another fund.

Here are pictures of the the tape, held bid, and chart at close.

someone closed their 404,444 shares. at 19.07; that doesn’t look bullish to me at all.

I do applaud them for holding the bid very aggressively at low 19s, but I think the ask will eventually win due to the fact that we have so much supply in the market now. Remember, institutions don’t just sell all of their shares in one day, they do it through a week or so, so that they don’t lose a bunch of money at one time.

 

I think this could be a great swing, so I’m holding onto it for now.

 

I covered $FB from my 21.70 entry yesterday for minor profits and then tried to short it again but lost the profts, so i either went flat or loss some coins. No need to mind that, it was a dumb mistake b/c I was partying and was stupid enough to not leave so that I can come back and sleep to wake up for the markets. Dumb mistake, but it was only a small price; stupid, but a small price.

Anyway, I initiated a short against the 20 level today when I saw weakness on the level 2 b/c i was trading on the ipad.

At first the level  2 was showing me that FB was leaking below 20, so to me the ask was more aggressive than the bid; therefore, i opened a position to short. Then it bounced off of it, but it did not go too high, so i kept my shares, and it came back; if i were a baller, I should have been more aggressive and shorted more with a stop of the highs of that bounce. Oh well, it was still a good short entry.

Towards the close, I saw a lot of sellers that just dropped their shares.

I think people were hitting the bids when they were shorting or selling.

Just look at the selling volume today, it was huge and obviously institutions sold their shares today instead of averaging down to buy more; so that probably means more selling pressure to come in the near future.

 

WSJ did a public poll on whether you’d buy, hold, or sell.

Obviously the public doesn’t want to touch this junk either; so there should not be much demand for this stock.

 

FB down 6.27% today, no bueno.

 

 

So I took profits way too early on $chrw and missed out on the huge gains! wtf. it was a bull trap and i fell for it.

CHRW +.10

then i tried to get some MAKO and it was up for a while but EOD, it sold off, so instead of going for a loss, I just took a +.02 profit

TLT was a bitch and I should have that short like a man even though I went in light, I lost -.30

NFLX was a boss short but my laptop is a POS and it lags whenever I try to put an order in, so I was freaking out the entire time but I was able to short it at .75 and cover at .60; man should i have held…

A lot of trades today but I should have made a lot more, a lot more!

Even though I fucked up a lot today, I am still doing one thing right so far, and that is holding $FB short from yesterday at 21.70.

i think $FB tomorrow will most likely be something like today, an EOD crash b/c a lot of longs would not want to hold into Thursday when the lock up period is over.

I started the day off trying to long $corn as $zc_f was ticking a bit above $8 a bushel, but as it was hit with selling pressure, I took at .15 loss and tried to short but apparently I cannot do that, so I scoured the my watchlist for stocks. I saw $chrw pop above the resistance line and started a swing position in it at 54.50.

long $$chrw 54.50

— The Joker (@xkneelb4mex) August 13, 2012

My 1st target is to fill this gap at 55.60. The second trade I did was $fb, I shorted $fb at the .70

am seeing a held ask on $fb i shorted some here at the .70

— The Joker (@xkneelb4mex) August 13, 2012

 

I had a sell limit at the .75 but it was not getting hit because there was resistance at .71 and .70; so I just put a sell limit at the .70 and watched it drop and fade. I really like the catalyst on Thursday when the lockup period expires and people who got it before the IPO can sell. Now the question now is, would someone sell or buy more of their investment that is already down ~40%?

I think it could shit bricks on Thursday when the first lockup period is over; just look at what insiders have already been doing.

They say it’s shit. Look at all those sells.

33 sellers and 1 buyer

496,736,880 shares sold

47,846 bought

Just look at all of these people who are cutting their loss; I would too. Be that as it may, Microsoft isn’t selling any of their shares, and maybe they could get some people on Wall Street to not sell and possibly buy some more.

Here is a bull/bear article on Nasdaq:

 

On August 16, the first wave of Facebook (NASDAQ: FB ) lock-ups is set to expire. Over the next nine months, around 1.91 billion shares will be freed up for trading compared to the current 500 million that are freely traded. The coming expiry of lockups is a major concern for investors who are worried that the price of the stock could fall even further on heavy selling from early investors that have been prohibited from selling Facebook stock since the company’s May 17 IPO.

Analyst Herman Leung at Susquehanna International Group told Bloomberg, “It’s one of the No. 1 issues on investors’ minds right now. Even the investors that I talk to who want to buy the stock and like the company are not sure if they can stomach the lockups.”

Investors whose shares are set to be freed from lock-ups are faced with a difficult decision now that Facebook has fallen around 43 percent from its $38.00 IPO price. Many of them still have substantial profits that they could realize and are likely concerned about seeing the value of their holdings fall even further.

On the other hand, these investors don’t want to act irrationally and sell out at the bottom — particularly when they still believe in the future of the company. “It’s not as if they have to sell all their holdings the moment the market opens,” said Brian Wieser, analyst at Pivotal Research Group, who rates the stock with a Buy rating. “They want to be rational about this.”

Bloomberg reports that on Thursday, investors including Goldman Sachs (NYSE: GS ), Microsoft (NASDAQ: MSFT ), and Accel Partners will be able to sell more than 200 million Facebook shares in the first wave of expiring lockups.

Facebook has been the most disappointing large IPO ever thus far, wiping out $38.8 billion in market value since going public. The lockups are staggered over time and the final round will occur in May 2013.

Professor Anant Sundaram at Tuck School of Business at Dartmouth told Bloomberg that he thinks Facebook’s steep decline could be reason for investors not to sell. “Will there be a significant downward move?,” he said. “Probably not, would be my guess, given that stock has already fallen quite a bit.”

Nevertheless, it will take a considerable amount of courage on the part of buyers to step into the stock given the flood of shares that are set to be released for trading in the coming months. If these lockup dates come and go without causing the price to drop, however, it could be seen as a major catalyst for Facebook as investors interpret it as an all-clear sign that the heavy selling has subsided.

Shares of Facebook traded down Monday one percent at $21.59.

Google Streaming Articles

Nasdaq Streaming Articles

also with $grpn getting slaughtered in the a/h market, it doesn’t seem like it will help $fb tomorrow.

short-term target is $20 but, hopefully it’ll die before that.

i either fuck facebook or facebook face fucks me this week.

I made a trading playlist but it is not even close to being complete, and I ask you all to take a look at the list and comment below on what other songs I should add or just plainly tell me it’s shit.

http://sharemyplaylists.com/i-bank-coin

 

1. I sold out of my SKUL that i’ve been holding for a month for an OK gain – I guess. It wasn’t worth the heart attack & roller coaster ride for my blood pressure going up and down every god damn day, and today when it dropped like a mad man, I put a market order out and sold everything I had b/c I said, “fuck this bitch, it’s a bitch, and only bitches get fucked.” So that’s how I sold it; totally irrational. If anyone got stopped out of SKUL from that morning panic, that was me stopping you out or giving you a better price to pick it up. I might go back in….

+.36 / share

 

2. I day traded 3 stocks today to try and get some cash flow. AAPL, GLD, JCP.

AAPL

I opened a position on AAPL early in the am to try and capture a breakout trade; the target was to breakout from the 620.50 area. It worked out perfectly and spiked up to 621s quickly, then I added some more and was stopped out for +.15 a share. Then I shorted it at 620.88 when it started to breakdown from the 621 level and I shorted it not only b/c I saw some weakness on the tape but also b/c it usually does not hold the highs of the day for the past few days and usually spikes up in the am and drops towards EOD.

+.06 /share

GLD

Another one I tried to short was gold; it looked overbought and toppy to me today, so I shorted it by usings the 157.40 level; I actually pre-shorted this at .41 but was stopped out at 157.414666667 and lost .0046666~, so mere pennies. I thought the gold pop was overbought today and was trying to arbitrage it with the other metal groups considering they went from green to red, so I was expecting gold to follow the entire metal sector and drop further, but it did not and instead, it spiked a bit and I got stopped. I had a tight stop on it b/c of the run earlier.

-.004666667/ share

JCP

I shorted one of the shittiest companies that my mother, aunts, gmom, and every women I know that don’t go there to shop anymore, JCPENNIES – b/c it’s only worth pennies. I shorted this junk at 22.93 b/c I missed the short at 23 flat – a second of hesitation cost me .07 of profit, I am quite pissed off from this. Anyway, I added more to my short at the natural .75 level, and then tried to get some more at nat .50 but it blew past it b/c there were many other shorts ahead of me. When it touched the .40s, I put in a short at the .50 area but when it broke the .50, I saw strength on the tape and just left at the .65 level b/c I already lost .15 from my add at .50. But all in all, not bad. So with an average of 22.749 – 22.65, that’s another +.10 a share.

+.10 /share

 

Now that’s some decent risk reward there.
total : .004666667 for .52
day trade: .004666667 for .16

 

 

Skullcandy has been in a war with itself and the rebel short sellers almost took over the nation with their corrupt ideology! But The government has finally halted their attacks, and started to push them back while taking strategic footholds they need, the $16 level.

With relentless assaults attacking the once great SKULnation, many investors have lost faith, but now the tables are starting to turn; faith and believers are starting to look at this great nation once again, and most importantly, they are buying with strong volume. Remember, shorting faith is hard, just look at our recently rally on QE hopes, it doesn’t work.

 

How many shares that are short SKUL.

Short Interest (Shares Short)

11,616,700

Not sure if this info is reliable but it looks like it’s from Shortsqueeze.com except they paid for the premium content, and was nice enough to post it for all; LINK.

 

There are still many short-sellers out there, but if we band together, they shall cry.

I am not sure how long we can keep pushing at the upper resistance level like this; I think we are going to start winding down soon. A healthy pull back would be nice or some nice consolidation for the next week or so would be too. If we do start to consolidate or pull back hard, I really like the AAPL chart here as a short — especially since it has a high beta. I was going to short today but my quant analyst friend said not to; surprisingly, the analyst was wrong — note to self, don’t listen to an analyst about trading ideas ever again b/c it cost me 3 points!

I thought it would have been a sexy area to short against the 623 level, but when my friend said not to, so I didn’t and watched it trickle down like a loser I was — damn it. The RSI from last night looked like the top, so that was why I was thinking about a starter position today; anyway, it is still on my watchlist for a short, and I am thinking about shorting it against the 623 or 624 using the 625-626 level as a stop. I believe this is a low risk, high reward ratio trade; I can risk 1 to 2 points for a potential of  50 points! Of course that is very optimistic having the target at 570, but hey, it is possible.

Targets would be 600, 590, 570.

 

Another one I am looking at is a commodity, corn.

I am sure you have heard or read about the agricultural problem we are facing with a steady, or rather exponentially increasing corn and soybean prices. Well, apparently there could be cool weather and rain coming in next week and if CORN can crack that 50.70 level, with strong volume, I might go in for a short against a nice round number of 50.50 or possibly an even 50 flat for further confirmation with a stop at breakeven. I think if corn dips, it could be a hard drop back to lower levels.

Targets would be 48, 45, 43 or even lower; I think this is a great R/R trade also, but it really depends on the weather next week.

 

Another great one would be XOM; with crude prices going the wild like the wild wild west, this could keep pushing higher.

Be that as it may, I don’t give a shit about that, and I just care about the $88 level; I think one could use that significant level to long or short this one.

 

Looking at that volume spike when it brokeout today; that proves the $88 is a significant level, and if it ever breaks  down, aw man, this is going to be a fun short too.

p.s. this really isn’t KCG but this is probably what it looks like.