UPDATE: Apparently Robinhood forgot to account for leap year. Please don’t be true.
Hey @RobinhoodApp did someone forget to add isleap() to your python module? Imagine losing thousands of dollars because someone didn’t code for the leap year. It’s looking for 3/03 data and throwing errors out the ass. #robinhoodapp pic.twitter.com/t907LANcBo
— Jtech63 (@jtech63) March 2, 2020
Let me start with my moves. I had doubled down in SOXS this morning — caught a rip and sold a little after 3pm. My thesis was simple. If the rally could hold past 3pm, we will sprint into the close. Expanding on that, I believed firmly that economically sensitive stocks would be the play — the areas of the economy most affected by recent shutdowns. The big move, in my estimation, is to the upside in those areas. HIGH RISK — BIG BALL’D plays.
So I sold SOXS and went long. In between that, I caught some intraday whips in two names.
HTBX +25.4%
(SOXS -6.6%)
SOXS +3.9%
CODX +10.2%
No big deal. All my shit is verified by a thousand strong in Exodus. Come trade with me and bear witness.
What did I buy?
Airlines, eateries, cruise ships, motherfucking casinos.
I reserved 25% cash and also went long 3x FANG 600 points ago.
See me.
In other news, all of the fucking morons at WallStreetBets got ultimately bogged out today — due to their beloved Robinhood app going down ALL FUCKING DAY. The rumors are severe. But this is an inexcusable occurrence and people are pissed.
Our system is experiencing downtime issues that are affecting all functionalities on our platform. We are aware of the issue and are working to have all systems up and running as soon as we can. We’re so sorry this is happening!
— Robinhood Help (@AskRobinhood) March 2, 2020
It was a miraculous end of day ramp. Up until then, the rally was somewhat milquetoast — but the jungle juices got flowing and traders King Kong’d into the close — absolutely poleaxing those who overstood their welcome short.
The Fly won again. Don’t act surprised.
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At least they don’t let you short on Robin Hood? lol
Coronavirus misses, 100 cases vs 200 expected. Misses on deaths, 6 vs 12 expected. Stocks rise
I present.
This little reminder.
“Black _ Swan _ rising”
– October 15
it is showtime
–
ibankcoin.com/flyblog/2019/10/15/the-champagne-is-flowing/#comment-564125
2009: “The Fly always wins, even when it appears he is losing.”
2020: “The Fly always wins, even when it appears he is running up the score having just dunked on the markets.”
As for Robinhood, I know back office is hard, but how the fuck do you manage to have an entire firm down for an entire day? Were they so agilista, so devOpsish, so cloudy, that they didn’t think to get SLAs with their cloud service providers? That they never stress-tested their systems for high volumes of trades (who knows if that even has anything to do with it, did they even open for business this morning?) Just how do you design a back office in such a way that it’s even possible to fuck up something as business-critical as the ability to take trades from clients?
I’ve seen nothing to substantiate the rumor that client data was lost, but that opens up another kettle of fish. Assuming RH’s clients went net long $XYZ on Friday, does DTC just shovel a million shares of $XYZ in the general direction of whatever broker takes over what remains of Robinhood and say “Hey, this is what RH’s clients, in aggregate, settled for, it’s all held in street name, you’re the new street name, now you figure out who gets 100 shares of XYZ and who gets 200 shares, etc…” (And if – i stress “if” – that rumor is true, again, how did they manage to design a system in such a way that it’s possible to fuck up the one thing that’s more business-critical than the ability to process trades?)
However it plays out, the postmortem analysis of what happened to Robinhood today will eventually be made public in the inevitable class-action lawsuits over this, and it will make fascinating reading for those of a technical bent.
It should also serve as a warning to founders that there is such a thing as moving too fast and breaking things, because you just might break something that can’t be fixed with another influx of VC funding.
Very well put. This comment is a keeper!
Fidelity was partailly shutdown last monday and the previous friday.
Etrade and Ameritrade also have problems on high volume days.
However, the sheer ineptitude of the firm was better demonstarted by this:
“Robinhood admits to storing some passwords in cleartext”
https://www.zdnet.com/article/robinhood-admits-to-storing-some-passwords-in-cleartext/
Thatt was the “sell” signal…
This late rally is a TECHNICAL rally withing a bear market.
It won’t last a day, so you better sell you longs, fly.
3pm hour was clearly pre scripted programming
Oh, in that case, I’m sure Fly wouldn’t mind returning the money he “won.”
They were monitoring [or presetting for] moving avgs and technical levels.
Uniform rate of rise from 3-4 implies it was fully predetermined,
and Synthetic
“S&P and Nasdaq broke above critical technical levels in the last few panic-buying minutes…”
preset, preplanned, choreographed
Everything is
Maybe so, or maybe it rallies long enough to make you insolvent before it crashes again
Why aren’t technicians all multi-millionaires by now?
Trump wins again
As I’ve mentioend previously, the US is slow-balling testing:
https://mobile.twitter.com/JuddLegum/status/1234536619270688768
Eventually, the testing will go out of control of the Trump administration and directly at the local health level, where it belongs. Then we’ll have a China moment, with a big spike in cases.
For those seekign an explanation to the ramp up: https://www.zerohedge.com/markets/shanghai-accord-20-powell-mnuchin-lead-tuesdays-emergency-g-7-coronavirus-call
Seem like the market will move bigly tomorrow, in one direction (stimulus) or the other (no stimulus).
Alt news was noting the delay in proper-testing a couple weeks ago
Alt news then hypothesized a ploy on Trump’s admin last week
we’re in sync not a jab
Remember you heard it here.. coronavirus cases will be 5,000 plus in 2 weeks and shutdowns will be absorbed by the market.. super Tuesday wil be a super spread event and the VIX will be over 50. Let me know if you disagree so I can remind you later. Dark times coming.. and mind you I’m a glass half full always optimistic guy!!
By the 3rd week of January, we had information that allowed a full contagion — projection
To not be fully nebulous: Mike Adams report, of natural news, on Alex, made it clear it had properties that were weapon-like, even if it wasn’t [one]
The specifics were a long incubation period, high R0 value, with a Sars and Hiv added fusion
(that really really implies manmade, which we got more evidence for a few weeks later)
In other words, FUCK REGULAR NEWS. As a reactionary medium, it’s reaches the point that our information extrapolates to, WEEKS OR MONTHS LATER
In other words, WE BASICALLY ALREADY CONCLUDED WHAT YOU’RE SAYING BY THE END OF JAN.
no offense
The timing was interesting, right around Chinese new year, the height of their travel, Right around the end of deepstate-insurance-policy #3 or 4 (impeachment fail)
by the end of january
I knew the likelihood
was magnificently with
Eager Anticipation
a contagion event
I mean a 14,
to 20,
or 24,
day incubation
C’mon! Easy!
.darkness.awaits.
Remember you heard it here.. coronavirus cases will be 5,000 plus in 2 weeks and shutdowns will be absorbed by the market.. super Tuesday wil be a super spread event and the VIX will be over 50. Let me know if you disagree so I can remind you later. Dark times coming.. and mind you I’m a glass half full always optimistic guy!!
“Nothing coming in from China.”
It may take a few weeks or months, but I suspect it will bite us in the ass sooner or later.
Shortages, https://tftc.io/martys-bent/issue-685/
It’s like when the CEO cutting costs by putting lines thru boxes on the org chart. What does this guy do? … gone. This one? gone
6 month’s months later they get broadsided. Who is in charge of this????
One of the people you X-ed