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
20,457 Blog Posts


Traders got their faces boxed the fuck in today, coming in short, in heavy cash, fucked sideways and out. No one expected this to happen, +100 Nasdaqs, Kurds BTFO, Trump’s China deal unimportant — more fucking craziness.

One could make a strong argument for ignoring any and all news. Granted, it might make you woefully ignorant and a dullard bore at cocked tail parties, but you’ll be happier and richer for it.

I just partook in a spate of poorly executed trades. I had recently broken a miserable trading streak with a dozen solid gains and now I’m right back where I started — mired in mediocrity.

My last 10 trades.

TQQQ +1.85%
(ROKU -3.5%)
MU +2.3%
JNUG +3.9%
SPLK — wash
(TNA -5.9%)
(KEYS -6.4%)
(CREE -9.8%)
(SEDG -1.5%)
(TVIX -5.2%)

Of course as soon as I sold TVIX the market dumped out 60 points and TVIX leapt higher; but that’s the nature of this business isn’t it? We’re constantly second guessing, strong arming opinions, acting on impulses and/or attempting to find a holy grail. Truthfully, and this goes without saying, you’ll never get rich trading. Write it down and post it on your fucking wall. Your gains, over time, will be had via long term cap growth, the old boring method of having an S&P like structure, yielding 10% in gains, 2% in divvies. You do that over 30 years and you’ll be financially secure.

But that’s boring you none of you read me for that. You want Fly out there in the City Square cutting dicks off with his dick guillotine, beheading people for looking at me sideways. I can do both, and will do both, believe me.

Into the bell, I’m bullish, positioned in SAAS and other indelible names — working thru the bad streak and optimistic for the future.

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  1. acehood

    You preserve wealth by diversifying. You create it via concentration.

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    • it is showtime

      A society preserves wealth by not needing to kick the can every 3 years, engage in boombust framework, and not devaluing its currency for multinational benefit

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      • soupbone

        In an ideal world, but there is no such place. Look even Switzerland has devalued because people need employment and stability.

        On the other hand USA influence post WWII is getting quite old now and disintegrating quickly.

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