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
20,083 Blog Posts

Dow Explodes Higher; Tech Stocks Wrecked

I’m through spelling wrecked incorrectly. It’s not only juvenile, but also fucking retarded. All of my stocks save 1 went lower — because tech growth got nailed to the wall, in spite of the Dow rising by nearly 500. Markets like today are most frustrating, but part of the narrative of man — which is to miss out. No one likes to miss out on all of the fun. It leaves a sinking feeling in one’s gut and causes us to make errors. While yesterday’s purchases might look like FOMO from your end, on my end, it was simply normalizing my trading account to its pre-virus conditions.

I’m heavily long SAAS and those stocks got wolloped today, in earnest, because of an earnings miss or two.

Without question, ZEN is heading for $100 and much more than that. In the SAAS sector, two stocks stand out to me most as long term holds: HUBS and ZEN. When they go lower, you should consider buying them.

Towards the end of trading, I bought two biotech stocks — because that’s where the fast money is. Speaking of which, and just to recap, I bought some TSLA puts yesterday at around $35 and sold them at $115. That trade saved my profit and loss today and for that I am eternally grateful to all of those longs out there who got sheered on the altar of Musk.

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2 comments

  1. it is showtime

    Go parabolic, controllers.
    It’s our favorite chart pattern.

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  2. MSGT HARTMAN

    Imagine how brain dead the communists are for impeaching the Golden Goose, kicking the gift horse in the mouth, biting the hand that feeds them.

    Meanwhile they’re stealing the election away from The Bern again.

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