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
18,678 Blog Posts

Bottom Drops Out of Stocks — Margin Clerks Get Ready to Zero Out Accounts This Afternoon

This is where the weak get fleeced. The people caught in cannabis stocks will be blockchain’d to death, as Felicia the margin clerk hits the bid on all of your positions to cover Fed calls — wiping out the entirety of your equity.

You got greedy, damned greedy; now it’s time for you to pay the price for those transgressions.

Listen to me now. The dips should be avoided, up until the very last minutes of the day. Gone are the days of late day buy programs. We sell into strength and then sell MOAR into weakness. Everything you enjoyed about the market this summer has been whisked away, gently, just like your gains.

Le Fly is 50% cash, getting hammered in whatever is left in his trading account. But I had the foresight to avoid leaning hard into this weakness and will, at some point, make an epic trade of grandiose proportions.

In short, avoid intra day action and play for an opening rip.

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3 comments

  1. ferd

    “activist investor” is the “cannabis” of the day

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  2. ferd

    Potential inverse H+S in Qs may spark interest into the close.

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  3. tradingnymph

    Stupid Brexit potential agreement can mess up my nice Bear Picnic so much.

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