Mid afternoon I decided to cut loose my shorts. The breadth was too strong and my dreams of fire and brimstone were not be realized. It’s a hard thing giving up on a dream — but something it’s for the better. Heading into today I was all long and short at the same damn time, so I unwound a bunch of positions and rejiggered and then reshuffled and then did it again at the end of the day.
Here were the results.
CAR +5.3%
WORK +6.9%
PINS +4.65%
BE +0.8%
(HEAR -9%)
SPCE +4.1%
(DRV -4.4%)
(TZA -13.3%)
(FAZ -5.2%)
(DRIP -9.9%)
NGD +4%
GMAB +2.3%
FTCH +6.9%
SPLK +1.3%
GWRE +1.3%
SIG +12.1%
GLUU +5.6%
I closed the day roughly 35% cash, a gentleman by all sorts of measures, beaming with promise of fortune. Members of Exodus are making too much money and quite honestly our servers cannot handle the amount of new FUCKED FACES signing up, so until Stocklabs is launch, I might need to limit the amount of new subscribers. The situation, sadly, has become untenable. We are, quite honestly, making too much money to be interfered with by the unwashed public canaille.
Good day and I will see you on Monday inside Exodus — where fresh bowling balls get tossed at the heads of the innocent daily.
The Dow closed up nearly 500, WTI 5%. Who gives a shit anymore?
If you enjoy the content at iBankCoin, please follow us on Twitter
IDK, I didn’t start shorting till lunch time so I’m feeling pretty good being mildly short the Russell till at least Sunday night. Will be ideal to get shorter if there’s another push higher before Monday morning.
Whatever happened to Fryguy? Wasn’t there a discussion to have him host some chat room for futures traders?
Fryguy is in exodus now under pseudonym Kdiddy
Hi. My name is Holden MiPenus. I am a 25 year veteran of some of the biggest Wall Street trading firms. I want to teach you how to make up to $5000 a day using this one secret insiders don’t want you to know. The Holden MiPenus system has been proven to make equity curves explode upward at a 90 degree angle. I can’t give you the exact details but I will give you two words to wet your beak. Male. Prostitution.
Whoa. Still salty as fuck.
His insecure ass probably still thinks I have some “system” to sell and/or any intention to take his customers from him, but–to the contrary of his insinuation of me pushing some nefarious scheme–I do not.
I have already clearly stated more than once I’m doing better than well on my own hook (even still can get it wrong sometimes) and I have nothing bad to say about the $59 membership he’s been selling. (In fact, I have no doubt it’s helpful to some.) However, the optimal number of customers (tantamount to amount of liability) a good trader needs is zero if he can afford to be self-sufficient.
Moreover, I would have spent the time on sites that have higher traffic if I needed to hustle that badly.
This is a good summary: https://www.bloomberg.com/news/articles/2020-05-08/s-p-rally-reaches-escape-speed-amid-worst-earnings-since-crisis
“But at 22 times forecast profits, the S&P 500 is trading at a multiple not seen since the dot-com bubble.”
It’s pretty remarkable.
As the article say, the market doesn’t like unknowns, but in this case, the market thinks it knows what will happen:
a) V-shaped recovery, all is well, and the Easter Bunny is real; or
b) slow recovery, “there is an infinite amount of cash in the Federal Reserve,” and the FED will use if the market drops more than 10%.
I hope Powell, InfiniteKashkari, and the rest enjoy the position they are in: damned if they do (buy more overpriced assets), and damned if they don’t. Hstory will judge him even harsher than Alan Greenspan.
PS for ignorant fucks that think racism in the US is thing of the past, note how two white guys murdered a black jogger in broad daylight, recorded a video of the whoel thing, **sent that video to the police department**, and got away with it for more than two months before the video was made public.
I knew that the uniformed police could get away with shit like that, but still surprised that the Blue Shield extends to PoS ex-cops as well.
Some Lives Matter, Some Lives Don’t. That’s the Georgia that “peaches” is living in.
Get the fuck out of here with your “financial numbers” and at the same time trying to extrapolate your u.s. is racist agenda with a single case under the microscope, while ignoring the rest of the billions of people on the globe
It isn’t an “agenda” because it isn’t planned. However, institutional racism is a fact of life in the US and most countries worldwide, and – just like in every other country – institutioanl racsim ALWAYS favors those in power. This is why racism always get more heated when the balcance of power shifts and why countries with “no race problems” tend to be more homogenous.
Take a look at CEOs and Congress and tell me: who is in power? Older white men.
No coincidence that a 50-somethign African American was repalced by a 70-something heavily supported by the exact demographic that is losign power.
The US is probably one of the least racists countries out there. Still, stereotypes are fundamental to human nature (and not a bad thing). However, we have to recognize the racism if we actaully want to get to a more colorblind society. I have postive and negative racist stereotypes, but at least i am aware of mine and not in denial. (And no, “recognizing the racism” does not mean direct reparations).
That’s all complete bullshit. Where in the world did your quote, And no, “recognizing the racism” does not mean direct reparations) even come from?
I quoted myself, dipshit.
I felt that was necessary because your reading comprehension skills are so limited. I didn’t want anybody to draw the wrong conclusions about my opinions (“your u.s. is racist agenda “) so I felt further clarifing my views woudl nip that in the bud.
By the way, the significance of that case wasn’t that some white guys murdered a black guy, but that the police departemnt had direct eveidence of the crime for two months and di nothing. That is basically the definition of institutional racism.
DIE NIGGARLOVER
Fuck you my pillow guy. Why did you all of a sudden create a fake account to pretend to be racist? You got issues dude
It’s amazing the word ruse doesn’t enter -any- of your summaries.
Your summaries are -sometimes- some of the most comprehensive
You have a. and b. but no c. where c as a fakeout does have probability.
The pre covid final leg was a ruse. No? Supposedly there was historic liquidity problems requiring large scale repo, yet the indexes go near vertical, and a suspiciously appearing black swan is also waiting right at the exit. That final leg wasn’t a ruse?
(With the backdrop that indexes are moderately to slightly heavily tethered to ppt or cb, and shadow ppt, buy programs)
This interim leg couldn’t be a ruse?
With reported cb buy programs even more, and certainly a much bigger daily volume percentage?
Where, a notably high percentage of daily gains are generated overnight into gap open. Where, overnight futures often have a ridiculously detectable upward subroutine with a stay in place subroutine and others.
The market must believe, 22x is assignable or futurely assignable, and couldn’t be taken there by the feeder mechanisms, clearly present?
Are you kidding.
The initial prognosis of such a setup normally -leans- to a ruse, scam, scheme, fraud.
(Your use of word market is still abhorrent. If feeder buy programs are priming most overnights, that’s not a fucking market with beliefs. jezzus)
The retrace after Oct 1929 was 60%?
Do you not fucking think there’s actually precedent for fakeout or ruse?
No offense and with camraderie are you that fucking stupid?
Where there’s precedent for these manipulation overseers to want as many people manic about gains and loaded up as possible, into a black swan…?
All the articles about a wall st disconnect?
That disconnect is just natural? Just organic disconnect.
And the very very approaching middle finger, to the avg citizen experiencing slowdown and contraction, if they get [the indexes] much higher
They Ain’t Getting Much Higher Without Revolution Sparking
Show, are you still in stocks?
Yes, there’s a possibilty that “they” want the market to rise, to pull suckers in adn just crash it again.
However, that reduces confidence in the market itself, and could lead to deflation, ie, loss of control.
Now I stil lthink we carsh again, when 27 million people don’t get back to work in 3 months, but that’s a whol differnt story.
That’s possible Showtime and I lack confidence in this market too, for those and other reasons. But what if we’re wrong?
I’m not leaning all in on anything right now.
I agree with your summarization, it’s all well planned by a few TBF banks. The EVENT provided an opportunity. But FLY is not stupid, he has been shorting for a few days.
Our BiPartisan Congress wants to raise the Free Money to Corporatiosn from $5000/employee (good for 2020) and $500,000 per corporation (100 employees max) to
$48,000/employee/year and $72,000,000 per corporation (1500 employees max).
That shoudl really help the wealth gap, by having taxpayers pay the salaries for corporations.
Does this also mean that the $600 * 8 weeks unemployemtn bonus check will be increase to $1000 for 52 weeks?
Shame! You don’t believe in the trickledown theory.
The problem with people that *beleive* trickle-down or trickle -up, is that the proper application of either is dependant on context.
For example, assumming that samll businesse do go out of business in massive numbers, then in the near future the economy would be better served giving peopel resources to enable them to satrt new samll businessese in the future, rather than increase unemploymetn payments. (ie, trickle down)
However, only a dipshit (or a self-intersted investor) woudl think that the 2018 tax cut was a good idea at the time, considering how low the cost of borrowing was/is and how much cash large comapneis ahd on hand.
It’s essential that any stimulus bill goes to people that **need it**, whther it is a formerly successful samll business facing liquidity pressures or out-of-work bartender. We don’t need to be proving taxpayer money to 6-figure consultants.
What the Democrats are planning is just as destructive to younger generatiosn and the poor as the 2018 tax bill:
1) the bottom will get to keep their minimum wage jobs
2) company owners will get free labor at 80% discounts.
Everybody gets something, but the wealth gap will just grow bigger.
If the bill is as bad as it it starting out, I will strongly consider voting for Trump to finish off the Democratic establishment. Evangelicals may not like Trump or his morals, but at least he is delivering on spreading their moral code (anti-abortion, anti-homosexuals, fuck the poor).
Simirlary, if his re-election creates another backlash to cut the head off the Demcratic party, so be it. One way or another, the wealth gap must be reduced to levels from the 1960s. MAGA in economic action, not empty words.
Unlimited liquidity ala the Fed. $2 Trillion bought a 30% increase off the March lows. $2 Trillion more to be added over the next 3 months.
https://fred.stlouisfed.org/series/WALCL
Most of the next two trillion is fiscal. The kicker is how much will be monetized, outright or through the back door.
Deficits the last time around matched corporate profit nearly dollar for dollar.
I’ve noticed that this week that new “hard news” is drying up. It’s all out there, fully discounted. Nearly nothing this AM.
Could get boring for a while.
The problem with traders on this board is they are impatient. That also includes me. To complete an act requires a lot of props, convincing, a half believable script, and so forth. That requires time in weeks if not months.