Gamestop Accompanies Bond Rout to Destroy Stocks

It wasn’t supposed to be like this. We had the GME business behind us and then out from nowhere a massive spike sent the market tumbling towards fresh daily lows, off more than 400 NASDAQs. I am of course speaking out bond yields, those bastard son of a bitches that plague us and stop us from financing for close to nothing.

We are in there midst of a CATASTROPHIC melt up in rates, as the 10yr swims freely higher by 10bps to 1.5%. The fear is the Fed lost control and this is it — the end. Fin. But those people are wrong and have always been wrong, ever since birth. I will tell you this is a temporary glitch and we will soon get back to popping champagne corks into each other’s eyelids.

On the matter of GME: there is a biblical styled blood vendetta out for Melvin Capital and Citadel by ordinary folk with $40 in their brokerage accounts on Reddit. I expect nothing less than $1,000 in GME; but I had to sell — for the sake of all that is good and fortunate.

I am up 500bps now, 80% cash, in the tall grass waiting for my next prey.

I liquidated both GME and AMC positions pre market for +166% and +30%, respectively. I can remain ignorant for only short periods of time until voices in my head yell at me “WHAT THE FUCK ARE YOU LONG GME AT $150 FOR?”

I never view a stock according to my basis, but where it’s trading now. Although pleasant, I cannot justify getting long GME at these levels, so I liquidated and greedily took the profits,

Next week I depart for Charleston for a small vacation, so I don’t need any headaches while I’m away. Trading will be light and blogging will be scarce. I’m up 600bps pre market and +141% YTD. I can do whatever the hell I want to do.

As for booking the profits ahead of what could be an epic short squeeze, I always opt for the fat middle and rarely if ever do I aim to time my sales at a top.

Listen to me and look at me. I stand before you a most victorious man. I happened to chance upon a little late day sojourn into the bowels of Melvin Capital, purchasing a 5% position in GME at $52. Since I have DIAMOND HANDS and a deep seated vendetta against hedge funds, I held the line and most of us did inside Exodus. The results were nothing less than staggering.

+10.2% for the session — NEW RECORD HIGHS.

I took the trade and others like it. I am margined out again in a car made of dynamite, heading for the sun.

I took myself off margin and have seen my gains reduced from +6.5% to 5% intra-day. This is part and parcel when trading on margin. I am presently 17% cash and struggling between two narratives where to travel next.

On one hand, I like cryptos and sense the crypto derivative stocks, like CAN, RIOT and EBON, can trade up. On the other, it’s entirely possible the DIAMOND HANDED assholes in BTC will succumb to a little Zerohedging tonight, fucking these stocks.

The other option is to lever up long into the COMMODITY SUPER CYCLE. I feel supremely confident about Ag, Oil, and also Aluminum. However, the gains in the latter will be less than the former, should all boats rise swiftly. There is also the off-chance everything gets fucked and the sell off from yesterday and days prior was nothing more than an opening salvo into a market destined to bleed out its residents.

The sideways crab like trading action intra day emboldens me to this way of thinking. I could also hedge or just hold the fucking cash and quit having to make all of the money right away. But see, Le Fly grew up inside the sewer hole looking up and wants his money now. If something gets in my way of this money, I get angry and filled with rage and lash out like a savage.

I have about an hour to decide. I’ll report back after the close.

I’m up 620bps as you read this, an unbelievable, surreal even, achievement for a person of my stature. To think, I could simply walk into the home office and make more money than you’ll ever make in your life time — in a single session.

I made 40% on HOTH today, not because I got lucky or was using INSIDER INFORMATION (cc @SEC) for my investments, but because the stock Gods favour me. They always have favored me and I tell you this so you could stop worrying about me — as I leverage into this evil tape and claim what is rightfully mine.

This is what they wanted you to do, dive back into the pool thinking it was warm and pleasant. Then they will release the sharks onto you, as you cavort sipping on some pool water, enjoying yourself. I participated IN KIND, buying all I could — even going so far as to margin myself at 10% to buy MOAR.

I know it will backfire on me, but who cares?

A great man once said, “No balls, No babies.”

I closed down 300bps, 250bps OFF THE LOWS.

Indeud.

The world stopped spinning today and shares of anything relating to solar or alt energy or EV is spiral down the drain and into the ocean to be eaten by sharks. The NASDAQ is swooning lower by 210 — but it was much worse earlier today. My Quant is off by 220bps now — well off the lows of -800bps achieved at 9:45am. It was heart-attack trading; but I could not help but to laugh at the losses.

I know it must bemuse you to understand the levels of fatality that I desire. Alas, markets are lower and I am losing 500bps in my trading. Ask me if I give a fuck.

I am still up more than 100% YTD and have 40% cash, eager to toss it right back into the fucking fires.

This could, as you know, be the end. This could be the beginning of the great unraveling. High rates and commodity prices might be codifying your demise. But I still don’t care. The kids are older now and my expenses are increasing with college — but I’ve made enough to ignore small vibrations and I know, if I might say so, I can turn on the printing presses anytime I want.

Today I am passively permitting my holdings to stagnate because I am betting on a late day rally. Should it fail, I suspect we trade lower in the AM.

But you never know. Do you?

Just a few days ago ETH-heads were popping champagne corks into each other’s faces. Today they’re all crying in their showers, wondering when it all went wrong. The truth is, the magnificent decline of 30% in cryptos these past few days is more or less part and parcel of investing in an asset class that has gone ape-shit to the upside. The parabolic nature works both ways and I suspect it will not bounce back right away.

This is good news for people who missed out the first and second time and always wanted back in. The blockchain and cryptos aren’t going way, so view this misery as nothing more than a pause en route to greatness. There are few asset classes that I have complete and total conviction in — ETH is one of them. This dive lower, although disheartening, has done nothing to disturb me because my expectation is for substantially higher prices over the long term. The money I am investing into it is not needed by me and I am fixed on investing in ETH on a monthly basis.

This malovolent move lower is having a deleterious effect on stocks too, as risk on behavior morphs into fear. This does not feel like the end, sadly. I do believe we’ll be placing in a bottom soon, off and away again to Neverland cavorting with unicorns and gay giraffes.

This is what happens to the bulls when they get that exuberance going. I was SMASHED TO PIECES in my crypto, long term, and Quant accounts today — amidst heavier than life selling. We had it coming and no one with an IQ higher than 50 is surprised by today’s pin action. I relish the dips in ETH and I relish the dips in everything I don’t own.

My trading was exemplary today, as I bobbed and weaved and turned out +170bps to the good. Naturally, and this goes without saying, my net worth DECREASED today since most of my assets traded lower. However, my trading account is attached to my cock and my cock grew 4 inches today and I will always err on the side of size in the matter of male instrumentation.

I do not offer you advice on this uncertain day, but happy tidings as I am in a most fortunate mood.

I will see you fuckers bright and early — 4am trading as usual.

When you were panhandling for supper as a boy outside your housing tenements, Le Fly was navigating markets — undergoing severe lessons of a most caustic nature. I still have the scars about my face and head — ancient wars fought by an idealist Fly. These days I am grizzled and accustomed to chicanery and I see it coming.

Alas, as the indices swoon and your SHITCOINS get babooned, I am +230bps — positioning keenly and also smartly in inflation plays. In other words, I’m an oil man again — always have been ever since birth — traversing the bitumen fields with my balls and my glove.

My prognosis for the markets is mixed. I believe I shall persevere and do well, while at the same time I fear your time is up. The margin clerks are coming and will soon liquidate your bullshit brokerages, sending you back to work where you belong.