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
19,895 Blog Posts

Closed Out the Month in Wanton Degeneracy — Stock Trading Contest Edition

I had a big contest inside of Exodus in November, me pitted against some Pole from Chicago. He traded well, but not often. Quite honestly, his fortune was helped by a freak trade in CRC. If not for that, I am certain he’d be shining my shoes now. But men do not make excuses and they own up to defeats. It appears I lost the contest. It came down to the wire, me 4x long CLVS needing a $15 print with minutes left on the clock. It got there, miraculously, but then faded a few cents.

The accountants are working furiously to get the final tally.

One thing is for sure, Le Fly will have his revenge — and when he does — it will be served cold.

The CLVS trade was supposed to be quick. It was running and I got in at $15.75. It ran to $16.5 and I didn’t sell, and then it collapsed. I ended up applying a Martingale Stratagem, buying as it knifed lower. I got my basis down to $14.88 and held into the close. It traded as low as $13.5, at which point I wanted to die.

On the issue of BLUE. I was 50% weighted in the stock as of late Wednesday. The rationale: I wanted to beat Diddy inside of the Pelican Room. So when the stock ran $4 at the open and I was up on Diddy — the logical thing to do was to sell — right? WRONG. See, if I won by just 0.2%, he wouldn’t have to shine my shoes. In order to get him to shine, I needed at least 100bps. I ended up selling more than a dollar lower, giving up my lead. So that’s when I bought CLVS, and a bunch of other shit, in an effort to make a last minute come from behind rapish win.

Sadly, time ran out and it appears I am the loser.

THE RESULTS: 4.98% to 4.83%

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3 comments

  1. ericbakerbruce

    Loser!

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  2. mad marsupial

    It’s not the winning but the taking part that counts
    – effort, determination and striving to reach a goal are commendable
    – through sport one learns to persevere, to sacrifice, and to be self-disciplined, to work hard..
    – Competition is not unethical, it is reasonable that winners be rewarded, even if their victories have an element of chance, this is the essence of a game, and games are fundamental to humanity

    – French educationalist and historian

    – Founder of the International Olympic Committee

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