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
18,975 Blog Posts

Got a Chart Breakout — Chinese Edition

I’ll try to keep this plain. There are three Chinese tech names, all new issues, that tend to run in tandem.

Here are two running now, IQ and HUYA.

AND HERE’S THE NEXT ONE TO GO, FUCKERS.

BILI rises above $20. It is a foregone conclusion.

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Public Service Announcement, Plus Three New Purchases

Some serious coin is being made in Exodus the past month. And it’s not all me. There is some raw talent being displayed in the room, all the while the very evil Diddy aka Fryguy and his Dale of Norway sweaters sashay atop mountains at Whistler. Believe me, he’s missing out.

Yesterday’s purchases of HYRE and NIO are working out well, wouldn’t you agree? HYRE is +14% and NIO a genteel 3%. I’ll have you know, I bought three stocks this morning, all running higher, all will continue to run higher.

OLED, DATA, and BILI.

As you were.

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Futures Sharply Higher; $175 $QQQ Here We Come

Interesting drop in STMP this morning — off by 50% after reports of willingly ceasing their relationship with USPS. Sort of odd how stupid a company could be — almost as bad as KHC this morning — driving lower with a vengeance on news that no one likes or wants ketchup anymore.

We’re looking for $175 on the Qs short term and we will not sell until we get there.

I suppose we can begin thinking that Trump might ink a deal with China, but it’ll be meaningless. I don’t believe President Xi will provide much middle ground until the 2020 elections.

In the meantime, we’ll have to deal with the Fed being pussified by a market pull-back, both conciliatory and subservient to the market’s demands. By ceasing their tapering program, essentially, the Fed is implementing another round of QE.

At around $4 trillion, the Fed’s balance sheet is fat and greasy, but I suppose they see something around the bend and they want to get ahead of the curve.

Perhaps in another 10 years the Fed will get the balance sheet down to pre financial crisis levels. To think, the Fed did all of this — just so they could save a few banksters, yet none of said banksters evert served a day in prison.

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Pinterest Files For IPO — Market Top Just Around the Bend

Today’s action was milquetoast. I’m neither hot or cold on the action. But I am dead cold on this news.

Pinterest is a piece of shit female only social network. The fact they want to IPO now, after so many years, must mean VCs are on edge and want to liquidate to the fools. They’ll visit CNBC soon and tell you how wonderful Pinterest is and how they’re trying to get men to use it. But rest assured, no one gives a shit about it and you should not buy that damned stock.

Let me say this and with great alacrity:

The fact the Fed is going to stop unwinding their balance sheet means they foresee deterioration in the economy and are trying to jump ahead of the curve. This Pinterest move only lends to that narrative.

Technically, all is still good. Nothing wrong with crude, junk bonds, the dollar, or small caps yet. My hunch, gold bounces like a motherfucker tomorrow, with stocks, and we continue to barrel into micro caps with animalistic aggression and destroy our enemies.

Top picks: NUGT, HYRE, SAND, and GEVO.

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Fly Sell: $BE

I sold for a 10% win, slowly raising cash or at least trying to. Markets are getting shredded and gold is sharply lower — so I’m on pause now.

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I AM CAPTAIN NOW

I bought HYRE right here — because I like money. With my discretionary account, I buy a lot of shit stocks — highly concentrated, woefully dangerous companies — because I can. See pal, that’s who I am and you’re nothing.

Afraid of risk…

…Fuck you go home and play with your kids.

I’m not insane you know. Seventy five percent of my money is invested quantitatively. Some of you FUCKERS already know this — but there are new readers every single day and so many of you are retarded. My risk account is deliberate and a blunt instrument of warfare, plus an avocation of mine. These small cappers I buy are maximum 5% weighted, sometimes 1% — and only increased above 5% when I’m really confident about the trade — as is the case with NUGT.

On this issue of gold…HAMMERED into the fucking ground. No worries. Those Big Ass Black Candles (BBC) have always led to higher prices in recent months. I suspect tomorrow will be another up day for gold, reducing gold bears to gum stuck on the side of a sidewalk next to a sewer cap.

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Trump Tweets: I Want 5g, I Want 6g, As Soon As Possible

What the fuck is this shit? Does he think it’s up to him or the providers who actually have to pay for this shit.

From the President.

5G related plays:

Segments Providers- VZ, T, TMUS, S, KT, DTEGY, CMCSA, CHTR, DCM, Towers- AMT, CCI, SBA Chip Makers- INTC, QCOM, CIEN, ZAYO Equipment- ERIC, NOK, SSNLF, SWKS, GLW

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A Series of Fly Projects Unveiled; Futures Are Soft

I’m undertaking a new project — publishing my selective works of the blog — dating back to 2007. It is a living testament of the stock market during this time period, and there’s nothing out there quite like it, impossible to replicate. I am, without equivocation, the most prolific financial blogger to have ever lived in the history of the world. One hundred years hence, traders will look back upon these halls with great distinction and read my missives and feel, actually feel, as if he/she/it was there with me — bowling on fuckers in the comments section with my magnanimous wins.

I believe it is my duty, as a citizen of the world, to publish these works, lest they might be lost to the ether when I am good and gone and everything turns into dust. I must transfer our world thru our distorted eyes into print. I say “our”, because much of what I wrote about was influenced by you — the unwashed reader. I will, of course, add some color to them and to be honest, I CRINGE at some of my earlier blogs — seeing how god damned juvenile and obnoxious I was. But that’s part of life, I suppose — the fires and the hearth — we burn inside of it and come out the other end crispier.

I will break it into three parts.

The Financial Crisis Years: 2007-2010
The Aftermath and Subsequent Rallies: 2010-2013
Leading into Trumpism and Latter Obama Fuckeries: 2013-2016

I won’t name them that, of course. I’ll come up with something creative. They will be a living journal of a trader/space alien magician during a most interesting time period for investors. Books are interesting and offer backstories to what transpired; but nothing quite communicates it like real time reporting and trading — the tomfoolery of this site pre Twitter — a time and era when blogging meant something and when men took to the streets and demanded justice for all of the crimes that Goldman Ballsachs committed — when the SEC sought out revenge against banksters and tossed them into prison cells.

Yeah, none of that shit happened — but I have interesting stories. The first part might be ready within a month or two, depending on my schedule. It will be my 3rd published item, the first two novellas based upon my time getting started in the business.

Futures are now soft. We might want to raise a little cash today.

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Futures Pop Off; Get in the Capstone

Dow futures are +70 and Nasdaq +20. Gold is pulling in — met with fierce at $1,350. I would expect miners to drop by 5% on the next pullback — setting up for a sublime purchase.

Remember, the news of the Fed planning to stop unwinding their balance sheet is bullish for stocks. Do you bemuse yourselves by listening to alternating opinions and listen to me very closely.

Not only is the Fed the market’s bitch; but it’s also its catamite. Expect to see even more grandiose returns in the micro cap sector. Why, right now in Exodus we only accept 30% gains on overnight holds.

Speaking of which — get in The Capstone. Need to learn how to do this for real and quit dicking around with morons? I’ll do a live screen share demo with you for an hour to three hours per month. If you want just one session to test it out, see if I can teach you something important, that’s fine too. Sign up and cancel if it makes you feel like you’re in control.

We’re gonna catch all the fucking break-outs and when we’re done — we’re gonna catch some more.

Nite.

UPDATE:

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The Garbage Has Floated to the Top

I sold IDEX yesterday for a fast 13% loss. Today’s it’s up 30%. That’s how this shit works. Yesterday’s shit-heap is today’s treasure. With that being said, anyone paying close mind to this tape sees the present trend — small cappers running wild — scaring away old men wearing monacles.

Into the bell, I bought GEVO — because it wants higher.

I’ll cut to the chase. I own a lot of shit now.

Here is my SHIT-BASKET.

BE, GEVO, CANG, PLUG, TLRY, NIO, HMY, CAAS, SORL, DTEA and FTFT.

This is a ruinous combination of stocks bound to wreck me. But I wouldn’t have it any other way.

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