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
19,609 Blog Posts

Market Reverses Like a Motherfucker Off the Lows

This is who I am pal — and you’re nothing.

My last 10 or so trades. Stop harassing me for ideas.

DRIP +11%
SOXS +8%
TZA+6%
HL +7%
PAAS +22%
IAG +20%
DRIP +2%
(TQQQ -3.8%)
SEDG +11.8%
HUBS +9.75%
(TVIX -7.3%)

This is a classic face rip close. Everything melted up. If you didn’t buy the close — you don’t like money and have no business around it. Trust me when I tell you, nothing can go wrong from here. Smooth sailing and Le Fly is the Captain.

Still holdings gold — because that’s what men do. But I’m also long a variety of new shit into the close. I bought 3 overnight trades, some SAAS another AI play. Bottom line: get comfortable with end of day trades, if you hate the intra day bullshit. We reversed off a 589 point decline today and lots of traders got shot in the face for it, yours truly included. I took a 7% loss in TVIX — hoping for a crash. Well guess what — it didn’t fucking work and now I’m long into tomorrow.

Let’s hope Trump steers clear of his fucking phone.

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13 comments

  1. ferd

    Today was a kindly market bounce allowing me to add a few more shorts in the last hour: HLT, HTHT, and MA. I’ll light a candle for your longs.

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  2. it is showtime

    National Economists Club’s luncheon AUGUST 6, 2019
    https://www.c-span.org/video/?463277-1/monetary-policy-economy

    Bullard
    LOL at 55:00

    “So as it gets unwound, it should be going the other way. Yields should be going up. I am not really seeing that aspect of it.”

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  3. WrongView

    Sure, looks right now, but by tomorrow morning you might be calling for the apocalypse again.

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    • numbersgame

      24 hours + 1 minute in the trading life of Fly.

      “Solid as fuck close, one worth betting on.”

      “If you’re thinking markets will bounce back sharply because MUH BTFD — good
      luck. This time it’s different ”

      “This is a classic face rip close…If you didn’t buy the close — you don’t like money”

      So now I am supposed to sign up for Exodus and rely on your overnight, into-earnings picks?

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  4. numbersgame

    Today’s action was bullish. I think we close that gap. Of course, while the masses/bulls are still in “love the emperor’s robes” mode, interest rates have been telegraphing for months what the smart money thinks.

    I’ve been selling bonds this week, looking for a better entry point, probbaly 2.5%, but maybe we hit 2.7% again. There is only one thing that saves this market: an actual, substantial China deal, one that *doesn’t* preserve the status quo.

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    • alty

      Still waiting for the update on the Christmas NFLX short. That was such high conviction until it wasn’t.

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      • numbersgame

        I lost money. Pretty sure I already mentioend that.

        Problem was, I was smart enough to recognize a vastly overpriced stock, but too arrogant to cut my losses.

        I’ll also note that NFLX is now in a bear market, so I may yet to be proven right (although admittedly not in the bank account). Still waiting (not waiting) to hear your brilliant advice.

        “Salty” enough for you?

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  5. Dr. Fly

    Hint

    No one gives a fuck what you think

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  6. omfgitsjd

    This train is picking up speed with Freddy Kruger at the controls. LOL.

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  7. omfgitsjd

    As we accelerate through the hills and valleys, we’d like to remind all passengers that safety features have been disabled for your comfort and enjoyment. Consumption of alcoholic beverages, smoking, or playing music while on board is strictly prohibited.

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  8. mrcharlie

    Yo Doc Fly what up hows the week goin???? Fellas this is pretty funny when you have a few minutes.

    Next time I see you Fly im gonna put the wreck on you!!! hahaaahaa

    https://www.youtube.com/watch?v=k2JRy-kYPrI

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