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
20,200 Blog Posts

Selling into the Fever — Booked Monstrous Gains

Yesterday I transfixed myself from the gold mine into a man of means and property. I went long a slew of REITs and mortgage related names. I took profits on many of them today, also culled the ones that didn’t work, and am left with a 70% cash position.

Here were the results.

(JWN -7.9%)
(SPG -7.3%)
(MAC -7.3%)
(VER -4.8%)

STWD +40%
PEB +13%
MTG +14% (day trade)
IVR +53%
NYMT +30% (day trade)
CMO +11.7%
(day trade)

EPR +8.3%

What else can I say? Join us in Exodus and see for yourselves.

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32 comments

  1. the_wolf

    did you not like MFA ?

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  2. tjnyt

    Just sold calls on stwd and BA.
    As the Pandemic rages on, mullahs in Iran and Paki religious fanatics are doomed. But 1.3 B strong and proud Indian people will prevail by drinking cow piss and covering their bodies with cow dung. Also please note “auto urine therapy” is completely safe and effective.”

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  3. tjnyt

    No pullback today? I could double my money from last Friday!

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    • numbersgame

      Considering your apparent startegy is more akin to buying lottory tickets than anything else, and I am willing to bet that if you do double your money from last Friday, you’d still be down **at least** 70% YTD.

      There is absolutely no way you survived the bear market up to last Friday without gettign nearly wiped out. You would have bought every single dip, with leverage with every spare diem you had. Either desperate call options that expired worthless, stocks on margin that you were forced to puke up, etc., the same strategy you are applying now in a desperte attempt to get anywhere near even.

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  4. sftradeallday23

    Today is the day to get out. We will be surpassing China tomorrow in cases and are approaching 20k cases a day with limited testing. The narrative is going from the stimulus back to the virus and people will be thinking we are royally fucked when they start absorbing how widespread and dense the spread is.. and i think they are right.

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  5. og

    People going from fear to FOMO pretty quickly.

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  6. tradercaddy

    NOW put your hands in your pocket and take your wolf dog for a long walk.

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  7. numbersgame

    LA is going to surpass NYC in total COVID-19 deaths this year, based on my complete lack of any formal medical training.

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  8. Mr. Cain Thaler

    (1) there is no way in hell we have a V shape recovery. A 30% 90 day bear market is a unicorn. Markets with this much damage don’t bottom for 300-600 days.

    (2) economic damage is cut deep and vertical. My wife is a physical therapist and now she’s furloughed. They’re saying it will be 3 weeks, and I laughed and said not until May. Big picture even the health sector is not immune. I have engineer friends with projects that are all frozen. The injury here isn’t limited to a vulnerable class of waitresses; it’s a slash that extends from upper middle to lower class, and the rich will bleed out from it along with everyone else.

    (3) the US dollar is so strong, foreign currencies are wilting around it. The euro is swooning, the pound sterling is rolling over, the Norwegian krone is imploding, the renminbi is dead. It’s a great tine for Americans to rebalance into foreign companies cheap but if there’s no coordinated global action soon we’re going to set off a fucking planet wide debt crisis that makes 1995-1997 look playful.

    (4) speaking of the renminbi, Beijing has the lowest currency reserves relative to their overall economy at any point in recent history, just as it needs them to hold their peg to the dollar. It’s one thing to say their currency was too weak. But what if it’s now too strong? They may start fighting nasty price inflation.

    (5) the world needs dollars badly and if we don’t print them we will get sucked in nto the deflationary vortex and the world sells everything to stay afloat

    (6) assuming we print like crazy to stop this, precious metals are going to go through the roof. The last time this happened silver hit $50 and you can’t even find gold right now.

    (7) 3.3 million new unemployed makes 2008-09 look like a pleasant holiday. No way is that priced in yet. Even with the improvements, going on unemployment doesn’t pay what the middle classes are losing right now. Even factoring in the free money they aren’t being made whole.

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    • sftradeallday23

      You are correct. Everyone is talking about airlines, cruises, restaurants…. Really? How about the standstill in 90% of supply manufacturing.. construction stopped.. the list is unheard of. The affect this will have on worldwide capex spending not just now but for the next 2 years is staggering. Companies that planned to have revenues to be able to spend on capex will immediately cancel anything upcoming to try and save money. How in gods name does BA think it won’t need a bailout? How many airlines are going to cancel orders? They will have to to stay in business. A large portion of the world will have their savings emptied out and they will go into debt.. how will this affect the next 1-2 years of consumer spending??? Most countries won’t be able to come close to the level of support for there population as we have. People are not seeing the big picture and the longterm impacts of this. We are going into a long drawn out recession that will not be a V recovery.

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      • alty

        Construction definitely didn’t stop. You can’t just abandon a half completed building for weeks or months. What are you basing this on?

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        • sftradeallday23

          Really??? A 12 story medical research building that is 60% through construction is empty for past 2 weeks in SF. I work at the University this is at. My friend works for Turner and all of there projects in the SF Bay area have completely stopped except their airport project.. My townhouse complex was having siding replaced and they haven’t been hammering away for 2 weeks now…What are you basing on???? Its called non essential. Do you think these smaller construction companies can keep paying them? I think not. Even the bigger ones will struggle

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  9. itsgold

    no market sell off despite bad news.

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  10. Orson

    We go lower.

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  11. flea

    I don’t get it, and it’s not natural. Volume spikes big time at 3:50 pm. Who?

    Who the hell buys at the end of the day with the market already up 5% Who?

    Munchin and the PPT, that’s who.

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  12. lapax979

    nice

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  13. lapax979

    Read following report to learn how a single mom was able to make five k dollar in her spare time on her computer without selling anything  HERE……media900.com Copy paste Now

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