Perhaps ‘Another Leg Higher’ Is Still In Order?

After the early morning shakeout, I deemed it necessary to start buying stocks again — and I have with great vigor and tenacity. I booked two gains and one loss, an overnight sojourn. Rules are rules, no exceptions. And now I am long an unnamed tech stock fixing for a $100 roll and another Chinese burrito, in the hopes their government’s corruptness can provide me with wanton profit.

I do not think gold stocks will recover today, but usually they bounce the very next day after a decline.

In short, markets are basing out rather nicely after a morning dip. It’s entirely possible we can enjoy an afternoon melt up and subsequent continuation during tomorrows opening tick.

Well well well, it looks like we have ourselves an olde fashioned market rout. I was fixing for a leg higher and instead got my house bulldozed while I slept. That’s okay and I’m not offended by this liquidation of stocks in the least. It would be like getting angry at the wind for blowing or the clouds for producing rain. Every once in a while, I am wrong about the general direction of stocks — but I’m always man enough to follow the path of least resistance.

Early this morning I sold out of MDLA — which was bought yesterday — for a +9.2% gain, an annualized return of 2,318%. If you wanted to instead annualize it by hours held, the gains are much more than that. And I also sold LK — a stock that I featured here 35% ago. The title of the article is “Here’s a Stock You Never Want to Sell” and I stand by that assessment. But this is my trading account and I do not commingle best ideas with trades. This account is designed to churn hard and fast, without remorse or emotional collapse.

My profit on LK was almost 16%.

Today’s narrative is strong dollar, higher rates, lower gold, higher oil. It sounds like the three rate cuts Wall Street is preparing for might be in jeopardy. Nevertheless, I am not going to sell my precious metal stocks just yet, and may have to endure a day of pain in order to see this through.

I bought a fuckload of stocks today. Nothing in the world can stop me from pursuing my destiny — crowned as the world’s greatest trader who ever lived.

In addition to my new purchases, I also partook in a late take overnight trade gambit from the orient. China is smoking hot and also on fire. I hope, very much so, our beloved leader can forge a new alliance with China and bring forth a new era of fair and equitable trading.

For the day, I boxed faces the fuck off and swung my cat o’ nine tails around like a madman — trying to inflict extreme damage to my enemies. I hope to report back to you tomorrow of great victories and plots and schemes for the days to come.

Indeud.

A little personal note here. I was at the local hospital with my father in law, following up on a serious health matter. In an act of desperation, I chose to eat at the cafeteria, a disgusting place manned by what I assumed were former inmates. I ate what I thought were hush puppies, but were in fact disgusting mushrooms. I ate about 6 of them — because I was famished and soon became gravely ill with an incident of food poisoning. Since I am genetically supreme to you, I did not shit myself or vomit. I simply endured this malady and overcame it within an hour or two.

Since then I sold out of this FUCKING UGAZ position I bought the other day — and took a 12% drubbing for the joy. I also sold out of IPHI for a 0.8% gain and KL for a +5.3% return. I have several stocks already on the books that are extremely profitable and I have a healthy and vivacious hankering for silver — the other shiny metal.

For my end of day pick, I am leaning towards SAAS.

I’ll be out all morning on family business. I see Mueller is talking greasy about our beloved President and futures are lower. I can only suggest that you take a good stern look at gold. It’s not for men who are faint of heart and certainly not an asset for those who are impatient either.

Gold is the defacto safe haven for all of the pangs and the bangs this planet has to offer.

I have positions — but sadly I cannot divulge them to you — the unwashed reader class.

More later.

$SNAP shorts are getting their dicks snapped off in after hours. I was long up until yesterday, but sold — because RULES ARE RULES. Who am I to break them? I am a loyal servant of certain disciplines and I cannot deviate, lest I let the country down. The world, actually. iBankCoin has devout readers in 56 countries, spanning the flat earth .

News after the bell worth perusing.

Snap beats by $0.04, beats on revs, beats on DAUs, beats on Adj-EBITDA; guides Q3 revs, Adj-EBITDA above consensus; calls for Q3 DAUs of 205-207 mln

Texas Instruments beats by $0.07, beats on revs; guides Q3 in-line

BAM! Off with your dicks.

I bought a semi stock for an overnight trade, so I expect to be ingratiated with coin in the morning. It was a conservative pick and I chose it because I only wanted to make a little bit of money. It’s like mowing the lawn for me, easy like rain. If I wanted to bang out a higher octane trade, I could’ve. But I didn’t want any of my readers who weren’t members of Exodus feeling envious.

Jealously is the ugliest of all traits and makes people absolutely miserable and turns them into monsters. Instead of being envious of Le Fly, due to his supreme excellence in all things, feel sorry for him for having the burden of such a curse. The crown is in fact heavy and it makes the head go bald. Next thing you know, I’m in the sun getting my fucking head baked off and I drop dead from a heat stroke.

More on this tomorrow.

If I was short, I’d want to stick a sword thru my stomach right now. This should not move markets, but it did. As a matter of fact, a face ripping rally is presently underway.

*U.S. NEGOTIATORS TO HEAD TO CHINA MONDAY FOR FACE-TO-FACE TALKS

— zerohedge (@zerohedge) July 23, 2019

The Dow is now up more than 140 and nothing can stop the madness. I’m fine with this and will be executing some trades soon. I have an idea where I want to do, mostly in tech — maybe a little SAAS.

A few of you complained that because I’m not offering my Mastery Ace stock picks for free here anymore that the blog has been relegated to a denizen of Fly bragging. While this has always been the case, for if I do not promote myself — who the heck will? I will offer some keen insight into the tape right now, to assuage those of you who haven’t a fucking clue what you’re doing out there.

The UK has a new PM and he’s gonna BREXIT the fuck out of the EU ASAP. Because of this, the dollar os jimmying higher. This is a temporary phenomenon and will revert to the mean inside of a few days. Presently the precious metals are weak, but that should be ignored. Stocks in general look slothful and lazy. My Bubble Basket is showing signs of wear and people are hitting the bid.

I am 45% cash in my trading account — having just took profits in FTNT at +4.5% because I’m special and also incredibly talented. The point here is not to rush. Mitigate your risk by opting to position into a stock at the end of the session. Once you begin to learn that most moves happen from 3:30-3:59pm and 9:30-9:45am, then you’ll start trading smarter. Intra-day reversals have killed more good citizens than all of the world wars combined.

Be smart, trade small after a large melt up, and mitigate your risks by taking end of day gambits.

Some people must think that because it’s summer — Le Fly will slow down and take it easy. Those people do not understand that I am obsessed with perfecting the ancient American art of trading. While others are summering off the beaches of Nantucket, taking it easy amidst the coke and the drinks, Le Fly toils hard each and every day for the benefit of his grateful readers. In a world devoid of financial bloggers, replete with click bait fucktards trying to trick people with gimmicks, I am here to remind you that Le Fly is in fact a ***RARE TALENT***.

I sold APRN this morning for a 6.9% overnight return. Please, hold your applause. As you can see, I’m changing fucking lives inside of Exodus.

Because of me, one vegan chap is now able to affix falcon doors onto his Tesla vehicle. Another lad is now able to afford to divorce his wife and travel the world freely, and someone good citizen is now free to cold call local business owners all day long in the hopes of tricking them with parasitic financing options.

See, Le Fly is changing lives — and I can change yours too.

BOGGED down, unable to pay your electricity bill? join Exodus today.

Depressed, saddened and sullen because you can’t make it to the 9 figure club? join Exodus today.

Your sex change operation hit a significant hump in the road and now you’re stuck with just one testicle and one tit? Join Exodus today!

I stepped in and bought SOLY for an overnight trade after 3pm and then the stock immediately blasted off, as the power of “The Fly” propelled the stock to new heights. My power grows by the day. Not one to look a gift horse in the face, I blew that fucker out for a 8% win. That’s an annualized return of 4,017% for those keeping track.

I was going to hold off on any new buys overnight, but that would make me a liar. Rules are rules and overnight trades must be taken, no matter what. So I bought another high octane play.

As a matter of fact, I bought several high octane plays today and we’ll see how these fruity trees make out over the next few days.

I haven’t looked at the broader indices since this morning. The trend is up and Le Fly is pistol fucking hot. Get in my way and I’ll punch your face off.