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
18,706 Blog Posts

Buying MOAR Into the Maelstrom

There are zero reasons to buy. Looking at WTI -8% and all of the news, I am shaken to my core — literally shaken. However, I have large balls and truly do not care about losing all of my money. If I was poor and destitute, I’d still be miserable, so what’s the difference?

I bought some ROKU now — because the MUH chart and because I want some exposure to beaten down tech. All of these charts look the same. The mean reversion trade has died. I should know, being the owner of a system that has mean reversion tools. HOWEVER, we’re smart people, very wise, and filled with innovation. There is a hunger in us to create ways and systems to profit from this action. I will see to it that I win, one way or another. For now, the dollar is a hugely important to the sentiment of the market. This is why I’m still long TMF.

Hopium is a strong drug, an aphrodisiac even. Let’s see how we close and god willing tomorrow will bring greater fortunes. We are watching NVDA very closely and I’ll be monitoring the parade of data coming out of China soon. EM is important, but the stability in FX and commodity markets might be the tail that is wagging the dog.

Nevertheless, barreling into Turkey Day, I remain stoically optimistic for a bounce.

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21 comments

  1. it is showtime

    “That’s not how it was supposed to go!” “oops!”

    “Get it flat at the end”

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  2. budweiser

    you’ve lost your edge

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  3. roundwego

    Too bad you did not flip your oil long stop out. Fly

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  4. roundwego

    That oil weekly chart gets uglier and uglier.

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    • ttotalone

      Good, that’s the perfect time to buy these time, Got in WCP.TO, with a excellent results + cash flow, , and strong buy recommendations. Nat Gas helping with a cold winter upon us.

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  5. jbandy

    George Costanza trading strategy?

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  6. numbersgame

    As torero mentioned yesterday evening, look at the Russell 2000 (samll caps).

    https://finance.yahoo.com/chart/^rut

    Check out any time frame you want, and tell me if *any* of them look bullish. I switched from long to short today.

    https://ibankcoin.com/flyblog/2018/11/12/bear-fucking-market-trading/

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  7. bronze28

    LARGE BALL OR more likely….. LARGE POCKETBOOK; having big $$$ allows one to take more chances.

    the small guy can get wiped out.

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    • Dr. Fly

      Small guy is same as big guy. It’s just an allocation process.

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      • bronze28

        looking at charts tonight, notice SMH. yesterday bottom held on MUCH BIGGER VOLUME; higher low than October 29. Is this the bottom?? me smells an SOXL day for me tomorrow; overnight 1 a.m. eastern time and futures are flat.

        same story with XLK; TECH. ETF;

        BY jove, am getting itch down below; iand tomorrow I think I will scratch.

        CLEAR THE TRACKS; 🙂

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        • ironbird

          They always hold before they blow. Patience.

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        • numbersgame

          XLK?!! I think you and I are looking at different charts. Looks to me like somoen jumping up and down on a galss floor. Or “Descending Triangle” if you want to get technical

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          • numbersgame

            I see no advantage for looking at charts in any form except candles, BTW.

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  8. ironbird

    Yeah that crap in crude has the scent of some entity blowing up. Could stocks be next. The relief rally will be wicked but this drip drip shit can lead to full puke mode. Then from the ashes and all.

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  9. Phileo99

    Let me get this straight….
    Dollar is rip roaring higher,
    Oil collapses like a cheap lawn chair.
    It’s bear f’n market trading,
    There are zero reasons to buy,
    Therefore, you go long ROKU…..

    Is it your urinal shadow making you do all this?

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  10. ironbird

    Natty is on a mission to make Russia great again. God willing crude or the equities can bounce now as well.

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