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
20,179 Blog Posts

Italy Cracked Thru the Fucking Floor Boards; US Markets in Heavy Selling Retreat

Let’s think clearly about this for a minute. IBM was up 16% heading into today. Fucking IBM. A slew of SAAS stocks were up 20% heading into today, 1 month into the new year. A god damned pandemic is shutting down cities and borders around the world.

This is the definition of Black Swan.

The way you trade it is with caution — because at any minute now those fucking devils at the Fed will announce some scheme to support equities.

My trading account is up around 8% today, mainly because of monstrous wins in a variety of virus related plays and some shorts. I wasn’t lucky. That was skill.

I have another virus trade on the books now, long at $2.7, now at $3.0. I had COCP day trade from 0.72 to $1.04, now trading at $1.32 with someone inside Exodus threatening to “eat his own cock” should it print $2 today. Crazy stuff.

The Nasdaq is off by more than 300, Dow more than 800, yet here were are winners.

Is it by happenstance this should happen? Are we blessed? Should the SEC be informed about these transactions? I don’t know. You be the judge.

Oh, by the way, Italian markets were fucking raped for 5.5% today.

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19 comments

  1. heckler

    Just fucking tell us the flu plays so we can survive this shit fly

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  2. metalleg

    I don’t think the Fed will step in so quickly. COVID-19 is letting them off the hook for the bubble they created. Why would they go back to holding the bag when they don’t have to?

    They may come in to save the day at some point but I don’t think it will be for a while.

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  3. awanka

    I’m feeling giddy, Mr. Fly. Constant melt-ups are so tedious. Finally some action.

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  4. alty

    Whatever happened to Ferd? That guy used to post here several times a day for years.

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  5. bankindamonkey

    This will be a move towards crypto…no one will have to touch peoples dirty plastic cards or dollar bills.

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  6. numbersgame

    Before today, TSLA recent big drops have onyl come after bigger gains. the Feb chart has a noticeable base trendline that has held up until today. You can draw a rougher trend line from Dec. Tomorrow should be interesting, and predictive for the longer time frame, for both the market and TSLA

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  7. jbandy

    This sell-off seems contrived. I think it is the quants just fucking with us, trying to create some volatility to scare weak hands out and juice their returns. Semis were trading at new highs just last week. Some incrementally bad news on coronavirus suddenly “matters” to U.S. equities. I don’t buy it. I’m scaling into the SPYs here.

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