On March 19th, 2018 I closed out my downside hedges in LABD and SOXS. That was the exact intermediate low before the bounce, a play that I made with space alien magician like precision. Over the subsequent few days, I dabbled in a little of this and a little of that — angling sideways into FRANKENFOOD plays that caught the appetite of Wall Street for sudden few hours. I watched 50% gains in AMTX quickly turn near break even. Although the stock is up today, it’s not even close to where it was when I was boasting about my brilliance here on the blog a few days ago.
In addition to AMTX, I bought some AMRS, EVGN, GEVO, and YTEN to bulk up on this bio-ag trade. To date, none of those stocks have made any real gains.
Then I posited myself in at a 33% angle, long JNUG — chuckling at you misers for not getting in at the same time that I was long. Even though gold is strong today, the miners are down and my JNUG position is barely above basis.
Feeling emboldened by my capacity to compile data and predict the future, I barreled into TQQQ and LABU at 90% angles, keen on cashing in as the market propelled higher. Both ETFs are levered and both ETFs are entreating me to disastrous pin action today.
Lastly, because I was at the apex of my trade, the very top of my station, I got bold and tumbled into DSX, PUMP, and CCIH, with greed writ large on my mind.
All of these trades have left me in a precarious position. I realize with the Dow off by 700, my losses of ~2% aren’t so grim — but it’s also important to acknowledge that I am, in fact, long a variety of clown stocks that are designed to lose vast sums of money. They are like XIVs and TVIXs disguised as companies, niche “opportunities” with little to no decorum.
On the panic side of things, LIBOR is on an unbelievable winning streak. NOT GOOD! SAD!
Libor for the win. 30 straight days pic.twitter.com/FrfZBO109g
— David Ingles (@DavidInglesTV) March 21, 2018
Zerohedge is harping on about Investment Grade credit crashing.
To put this into perspective, the recent downturn in credits is a joke — longer term.
Nevertheless, what if they’re right?
To hedge overnight, I stepped into the FAZ mobile — long the trip inverse banks ETF for the laughs and hopefully some quick gains.
If you enjoy the content at iBankCoin, please follow us on Twitter
Good idea. Got some SPY 157 strike puts in case things get dramatic tomorrow.
2
Bulls, who’s shitting now?
Show, I actually find your posts entertaining unlike the others. However, a bear trap is coming, be careful. Can markets bottom on Friday yet again?
As do I.
you will be fucked , in different angles , not all in once
I have so many angles now, it’s nearly impossible to try to fuck me.
lol
the real crash is not behind the corner ( where people entertain some fast be-fuck )
Bought SPY 265 Puts on the 12th, sold them on the 19th for a good win.
Bought SPY 275 Calls at the close today… I can see us opening lower tomorrow, in fact I kind of expect it. But we closed on the lows… that’s usually good for a rip.
When you close on the lows, you don’t need clothes. Just made that up, and it makes so little sense that it’s bound to come true.