IS IT WISE TO SHORT INTO THE HOLE?

All we have are weapons and the stock market. Without them, we are nothing — meaningless fat slothful nation of racists and weirdos living in overpriced hellscapes. So the question I pose before you is simple, if not philosophic.

Is it wise to short or hold shorts into the hole?

Just a simple academic question from a deep thinker.

I closed out my TZA short today for a 4.7% overnight success and now hold a fuckload of cash, a few defensive positions, and one or two longs. If forced to make a move, I mean absolutely forced, I’d close my eyes and go long into the final hour of trade — with the intent to sell tomorrow.

BIG developments in stock land today.

We’ve got VIX above 20. Panic mode.
We’ve got oil getting hit and oil stocks smashed.
We’ve got gold and bonds tough as nails, ripping upwards.
And we’ve got today’s special high yield and leverage loans shredded soup.

Last year was different, or was it? It’s happening again — just like it did then. Who am I to stand of the way of reversion? Get your pees and qs in order, son — for if the shit hits the fan this time around –it’ll be for keeps. Millennial faggots trapped to death inside of their commission free Schwab accounts — ironically bogged out. Maybe we rally, or maybe we don’t. Feeling tough? I bet you are, but not for long.

I have more than 50% cash in my trading account and have been that way for a few days. There was a disruption in the Matrix which caused me to miss some trades. Now I find myself long TZA in an overnight trade from yesterday.

THAT’S WHO I AM — and you’re nothing.

Fuck you, go home and play with your kids.

Small caps got BOGGED the fuck out. I bore witness to the carnage while luxuriously cavorting with men of leisure, East of Sheridan. Private clubs only, so fuck off and go hang out at your local arcade.

I sold out of my TVIX position, redeeming myself and locking in well earned gains. I’m heavy cash now, still hedged, betting on a continuation of this drop. God willing we can truly drop tomorrow and begin the end — into the new year — fucking everyone. Crash EEEEEET.

The end result, whichever way the winds blow, will be winship at House Fly. Look at the stats.

I had a 4x position or 20% of my account long TVIX into this fucking tragedy. I just blew it out for a fantastic gain. All of a sudden, I find myself 75% cash and 5 winning trades in a row, a very successful and distinguished man.

See kids, let this be a lesson to you. Good men, truly great traders, always come out ahead. Just yesterday I was lamenting over retarded trades gone sideways. Today I am a champion amongst champions, stallion with the biggest dick ever.

What’s next?

Stay tuned Exodus.

Now one of the youngsters, just like you, Dr. Fly is now going to educate you about today’s tape via pictures. Us millennials are all genderless avocado toast eating, bitcoin tax loss having, pot heads. We don’t have time to read books or news. We want our info in memes or pictures.

So here goes.

WOWZERS!

What sort of fucking planet do we live on anyway? What will full service brokers do now? Fucking Schwab announced they are reducing trade commissions to ZERO, effective now — sending shares of other online brokers into the shitter.

“This is our price. Not a promotion. No catches. Period,” added CEO Walt Bettinger.

The firm made about $400m in fees from their EXPENSIVE $4.95 commissions last year and now they’re fucked. This is all happening because millennial favorite Robinhood came out a few years ago with a zero commish platform. Granted, they fuck people over in other ways, namely privacy related, but the kids love it.

This of course is all about luring millennial and zoomer faggots back into the fold — a grab for assets. They know, the brokers, that young folks couldn’t give a shit about their platform. Bear in mind, these are people who like Minecraft and other retro-retarded software games and apps. They’re accustomed to low tech garbage, which is why they love Robinhood.

Bottom line: full service brokers are rampaging throughout their offices today, 100% dinosaur’d, in the streets and fucked. Investment advisors are still able to hoodwink people into believing their fees are worthwhile. They will go by the wayside too, once AI gets good enough to replace them. Then the brokers will truly drown in misery, for they’re now heavily dependent upon advisors and their assets.

Good morning lads.

Last year this time you were all talking extreme shit, only to get your teeth punched out clean inside of two short months. The major difference between then and now is rates. Back then the Fed was still independent and wanted to hike rates, causing leveraged loans to fuck themselves. This go around the Fed is slashing rates and We Work is under pressure for being a scam. I don’t know, does a $47 billion disaster mean anything? Asking for a friend.

This go around, we’re all powerful and strong, chests out and cocks hard. We walk around with confidence, no matter the news. President impeached? Fuck him. Bad economic data? Fuck off. See, just like that, I dismissed all of the worries and can noW feel good about going long equities.

Can the market swan dive this year like last year?

No, absolutely not. The market never does what you expect it to do, especially follow the exact path of the previous year. It’s very likely we’ll do the exact opposite of what people think will happen.

Futures are +65 and everything is SAFU. Today is my Quant reshuffling day and I’m still REELING from a few trading account losses from yesterday. Hopefully I can clear those out, get back to winning again, and also fix some of the technical issues that were fucking me yesterday inside Exodus.

Wish me luck!

I got fucking wrecked in my NUGT overnighter and let’s not mention my other two 3x inverse vehicles. Sure, China is on the verge of breaking 10,000 legs in Hong Kong and Trump is getting impeached — because he fired Bolton. But do equity owners give a shit? Inflows and a dramatic increase of American wealth have left us in a permanent state of bullishness. When I used to say “nothing can stop stocks” — I used to joke. Now it’s serious. Nothing can stop the upward melt, not war, not rates, not the economy. Nothing.

I find myself in the midge of a dreadful trading spate, slipping up steps, breaking my jaw en route to my destination.

My last 10 trades:

KL +6.7%
(HUBS -7.7%)
(SOXS -6%)
PG +4.8%
(DDOG -10.5%)
(NET -8.1%)
JFIN +3.5%
DUST +8.5%
(LK -3.8%)
(NUGT -9.8%)

How do we deal with these runs? 50% cash, careful not to let things slip too far. Bad streaks are part and parcel of trading. For whatever reason, my connection to price action has been impaired. The way I am seeing stocks, the inputs I absorb, are creating false signals — resulting in losses. In the past, I’d double down on mistakes in a stubborn attempt to win. I do have a gigantic position on the books now that will be closed out tomorrow.

More on that tomorrow.

Very busy this morning, so I’ll make this brief.

I thought I could trade gold back and forth, long and short. I made money on both the upside and the downside, ha ha ha — but not today. Then I thought I could short China, because more laughs. And I felt comfy taking gigantic TVIX positions over the weekend and into a Monday. All of my plans were scattered about the floor and my face kicked in thoroughly.

What should I do? What will I do?

Nothing yet, but I’ll most likely close it all out and chalk it up to hubris.

Markets are flying high today and gold is laughably crushed to fucking pieces. The news? Trump is being impeached. Geez, thank God.

All that aside, everything is going well.

I understand some of you are concerned about my house, so I will provide an upside.

I drank a bottle of Sancerre this evening with dinner, lemon chicken, rice, veggies. I am a master chef, and a master bartender, in addition to a master trader and blogger. Almost everything I do is good to great. A great person once said to me “you do everything great” and it’s true.

Getting accustomed to NC has been easy, but the kids are MEH on it, mainly because of their friends up north. The weather is HOT AS FUCK, always 90 degrees and the sun is stronger here. It burns my fucking face off. Also, there are waterbugs here. Fuck that shit. But overall, Cary is a very fine town, all new builds. You cannot fine a home built before 2012.

The refurnishing of House Fly is going well, spending $5k per day on SHIT from Restoration Hardware and Crate and Barrel. We are almost unpacked, but never quite so, since we have considerably less closet space here. I have 50 unopened boxes in my garage now and another 10 in the basement. My fucking Benz is still in the dealership, with CATASTROPHIC engine damage, costing me $10k. Other than that, everything is the same.

On the business end here, we are 50% done with Exodus 2.0. It will be called something else, with a unique domaine. It’s mainly me here on the site now, so I’m thinking about doing a redesign to ditch the front page and bring it straight to my blog. My new programmer/partner is from Germany, much younger than me, reminiscent of my original programmer when I started iBC in 2007. Things change, but everything is generally the same. People come and go, but “The Fly” is everlasting and constant.