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
19,510 Blog Posts

Only Stupid Jackasses Short into Meltups

Hedging is one thing. Being net short is a whole new ball game, one festooned with indecorous qualities of a lesser man. If you’re shorting here in size and vigor, listen to me now — don’t do that. The trend is indelibly higher. I don’t know how else to describe things to you, other than offering insults and calling you a fucking asshole.

LOOK AT THIS CHART. LOOK AT IT.

Go short after you get a large red candle. Do it and stick with it until it stops working. Expect volatility and losses are part and parcel of this game. Instead of anticipating where the market is going to be — why not try being where the market is now?

Be the sheep. Eat the grass. Be on guard for the wolves. Fuck off.

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13 comments

  1. chumpdaddy

    I just hedged my longs, some of which go back 16 years, like LOW, up 80 percent. So shoot me…

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  2. edge

    We appear to have a PPT floor (put) and suicidal dip buyers. Fear will resume, what with a slowing world economy and an incompetent administration, eventually.
    Long for now. Also heavy cash.

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  3. og

    Guess it’ll be up to earnings now. No China trade deal rumors until the end of this month.

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  4. jonnybegood2

    it’s a crapshoot right now. with my cash balance parked in a 2.1% preferred money market and spread between various short duration bond funds paying near 3%, I’m not doing much until we see how earnings kick off of we get some extraneous news events. Have also been moving into some bank preferred stocks paying 6% or so as they seem to have bottomed.

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  5. trumpmeister

    The real pros stay on the sideline right now with the intent to build a net short position in February while amateurs like Fly dicks around for 2-3% day trading moves with zero net at best while making his brokers filthy rich.

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    • moosh

      Boring. What are you thinking real pros are building net short positioning on?

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    • tjnyt

      How do you “BUILD” a short position when market is rallying? You wait for the final fireworks.

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  6. chuck bennett

    Good question. They are shorting his stupid ass.

    Back to the point.

    Look at it !!’ Look at it!! Look at it!!!

    Regards

    Chuck Bennett

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  7. acehood

    Fly will be short by Tuesday.

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  8. edge

    What are the pros doing?
    A better question is “what are the gazillioaires doing”. I think they’re trying to build a floor under the market.

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  9. alldeltanotheta

    Flipped a coin and it landed tails. We’re dropping.

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  10. tjnyt

    I am net long in energy and less in tech with a small SP put position. Still waiting for the fireworks. Plus crude is up and this is earnings season.

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