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
20,567 Blog Posts

You Get the Market You Deserve, Not What You Want

Important lesson here.

Yesterday I bough NBY at 0.92 because they announced news of having N95 masks for sale. The stock was already +150% and I felt it could go higher. After I bought it, it ran like the wind and I wad delighted. I had fanciful dreams of myself dining in a deserted French Riviera coastal resort, counting my coin. The stock jumped to $1.75 in the AHs and I warned Exodus members to LEAVE NOW else fall victim to a most heinous crime, should the shares reverse lower the next day.

But I had dreams and those dreams were DASHED AWAY at the fucking rocks of hard knocks. Earlier this morning, I sold my shares, SHARPLY LOWER, in the pre-market, taking just a 21% profit. While handsome, this is not going to get me off the coast of France popping champagne corks. Now I had wanted something different, but I got what I deserved. I sold in the PM because I knew the PLEBS would immediately spill out across the pavement when the market opened and I was right.

I booked the TNA trade for a 2.5% profit this morning and now mostly have cash, waiting for a clear direction from the stock Gods.

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26 comments

  1. roundwego

    nice communication and lesson.

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  2. monkeybot

    Scratching an old scab – XAIR surging on lung treatment device…legit or muppet round-trip Act II?

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  3. numbersgame

    NMBY market cap: $8.6M (and falling)

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  4. numbersgame

    Anybody want to take the over/under on the 30yr at 1.625% (half way betwen 1 1/2 and 1 3/4)? My position on this is well known.

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  5. numbersgame

    Cash still king.

    I’m waiting either for a CURE for COVID-19 or a FAZ and furious crash to S&P 2000

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  6. helicopter ben

    Serious question: How much money could one expect on a swing trade with a low-cap stock like NBY or PRTY with success? Are these trades meant to upgrade the family car or build an addition on a house if they go well or is it possible for a good trader to make quite a good living on these trades alone?

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    • numbersgame

      Fly could probably anser this better, but it is *possibel* to make a living solely based on trading, but highly unlikely for the average Joe. You don’t have access to insider inform..excuse me, “rumors”- from your Wall Street buddies, for example and you ahve professionals with 20+ years expereiecne, supercomputers, and/or physics PhDs to compete against.

      If you are really interested, I’d strongly consider joining Exodus.

      If you prefer to go on your own ***paper tarade first***. They don’t count if they aren’t written down (and rpeferable executed in a elctronic paper-tradin account with no money at risk).

      The two most important rules:
      1) Manage your position size: 10% max, but 5% is preferable. No commision tarading makes this a lot more managemabe for samller bankrolls
      2) Have a paln for selling **before** you make the purcahse. This meanas target to cut your losses if it goes agaisnt you, and also to take full or partial profits if it moves in your favor.

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  7. og

    Wow at the casinos.

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  8. tjnyt

    Elon echos my thoughts COVID gone by end of April 20. I am up 15% today.

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    • traderconfessions
      traderconfessions

      Gone by April 20?? Not the 19th or 21st. Maybe on Mars where Elon hopes to live. Book your Carnival Cruise yet?

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    • discoordinated

      I am inclined to agree but not say “gone”. I think we will leave the panic room by end of April. Also I think at some point we get a round two.

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  9. numbersgame

    Fishing is boring. I’m a farmer who likes to wait for the crops to grow

    So if I see a company with $40B worth of city-sized ships and $9B in debt selling for less than $10B, damn straight I buy it at $9/share (bottomed at $7.90). And when it goes up so fast that it is halted 2 days later based on an idea that might not even pan out, damn straight I sell it at $13.5+ for a 50% gain on a Big-cap stock.

    I’ll buy it again at $9 if I have another opportunity. You should, too (CCL).

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  10. dchanko

    If could get AVIGAN into the USA the licencee would make a killing, and help a whole lotta people at the same time. FDA will take their own sweet time however.

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  11. edge

    A collected a few QQQ puts today and some NUGT. I intend to hang on to them. If I can.

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  12. heckler

    I’m a bull too. I think what Fly deserves is for this market to run back to 3000 or until he shits his pants for selling his retirement

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    • tjnyt

      You said it first, if Elon is right and all the octane DJT has injected it’s not all a pipedream.

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      • heckler

        “juice” the market is a bad way of putting it. More like liquid cocaine

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  13. numbersgame

    Here’s a serious question for a serious situation.

    Our medical system is on edge because we might run out of gloves, masks, ventilators, etc. Now the ventilators, I’m not sure what to do about that. But gloves and mask, the solution seems much simpler: reuse them. Now of course, this is much more dangerous than throwign them away, but is it more dangerous thatn having no protection at all? Why can’t they be sanitized with an autocalve or just high-temperature steam? Or if the only contamiantion is from possible COVID-19, can’t you jsut put them in a cardboard box and wait a few dasy until the virus dies? (of course there could be other pathogens that may survive).

    Another more risky plan: expose the healthy young doctors and nurse. They’ll almsot ceratinly survive and then may not need the masks and gloves every time they see a COVID-19 patient. This would be a last ditch effort and woudl require **volunteer heroes**, but it would still work for staff that has already been accidentally exposed (understadnign I am talkign aobut a situation where yoo onyl have enoguh masks for the older expereinced doctor that hasn’t benn exposed vs the young doctor that has or volunteers for it).

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    • tjnyt

      You gonna catch it, gloves or not & you gonna die respirator or no resp when you that sick. Very poor risk-benefit analysis at every level of our government and healthcare establishment.

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      • numbersgame

        So you’re theory is that everyone is going to catch it by April 2020 – and you’re long the market 200+% based on that?

        Is that good risk-benefit analysis?

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        • tjnyt

          Not predicting the market, just trading. On the other hand, my clinical experience tells me disease arrived in NYC in late Jan 2020 caused a relatively mild cold ( even for my elderly homebound patients) and is on it’s way out, meandering through the rest of our nation. As Elon said, we are one month behind China. The entire Brooklyn Nets team was tested, 4 tested +ve. I believe nearly all got infected, some earlier than others.

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  14. edge

    Ouch. Read the prospectus BEFORE you buy.
    NUGT due to having the snot pounded out of started off as INVERSE. Sold -15%

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