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
18,966 Blog Posts

You’re Not a Fucking PM

The stocks you’re trading are letters and numbers, nothing more or less. Quit thinking you’re a portfolio manager — listening to calls, overanalyzing shit, wasting time, when the truth is you’re only interested in a swing trade.

Thank God I sold GRUB yesterday. I did so because I didn’t have an edge going into earnings.

Yes, we do this shit all day in Exodus.

Early going I made three moves — stopped out of YGYI for -14%. It blew through my 10% stop. I also sold SQ for a small gain and bought GUSH — which seems counter-intuitive with the market weak. By thoughts are to give market benefit of the doubt until it proves me wrong. We’re plodding along a tight rope in oil now — right at the bottom of the range. I like GUSH for a bounce, but will quickly sell it if the trend worsens.

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9 comments

  1. ferd

    Still short the sector, but sold DRIP here +about 20%

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  2. edge

    I just took about 40% off the table, sold some TQQQ and all YINN. Still have some FXI calls.

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  3. edge

    SMH working on a gap fill. Watching. SOXS or SOXL?

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  4. irma vep

    Still holding GUSH? i doubt it.

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  5. edge

    On the plus side, volume is tame. No rush into gold, either, dammit. Vix at 17. No panic there.

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  6. edge

    All I got left- core and NUGT. A few FXI calls. Recalculating.

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  7. og

    China matters again I guess? Trump will most likely just delay tariffs again.

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  8. irma vep

    Anybody watching CMG? Hilarious. Not.

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  9. nico g

    on December 24th

    Trump calls Mnuchin tells him ‘your, your fucking trick calling bankers on a week end backfired! Find something else! We need a squeeze up so our ‘friends’ can get out of the market. Those idiots are still long. I gave them a tax cut i… i gave them the rally they’re, they’re greedy they never make enough now they’re telling me ‘algos’ and ‘CeeTeeHeys’ are ruining everything and buybacks look bad’

    Mnuchin on December 25th ‘Cohn called Esposito. As far as he knows we can engineer a classic squeeze back to 200dma or 61% Fibbo in short order’

    ‘no idea what you’re talking about. how much is that?? the level? how fast? do it fast’

    ‘around the 2730s. Pretty much every bear correction (ndlr: with the exception of 1980 when it shot right up, no return, after a recession) was followed by a bounce but it takes months. Last 2008 took 4 months’

    ‘no time for a lesson and i dont care. i guarantee them 2730s. We don’t have four months. I give you one month. Call Powell. I will keep shutdown for as long as i can to hide our bad stats and we let the good few stats out and i tweet them. I’ll bullshit something on China’

    ‘Ok i got Powell to cooperate here is the plan. We go dovish before year end, pension friends of mine will rebalance now. We relay every Friday to squeeze, ill tell Powell to bullshit a meet w/ Yellen and Bernank. Then expiry Friday could bring us near the 100dma. You need to tweet support on China ‘

    ‘sure i can tell the boys to bullshit on China but you know them they can’t shut up for more than a month. Kudlow will kill me’

    ‘I hear you mister President. The way it normally goes, blogs and analysts will go full bullish the week after expiry and with a bit of luck we’ll get the 200dma soon after. Tell your friends this is all we can do with those Chinese not bulging’

    ‘This is great. Tremenduous plan Steve! I call them to give them 2730s in one month. It is a lot of money since my election. Do not fuck it up’

    ‘You can trust Esposito and the NYC Feds. But your friends need to be out of equities at 2730’

    POTUS hangs up.

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