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
20,329 Blog Posts

Indifferent on Tape; Heated Thanks to Intra-Day Secondary Rape

I was trading like a king. I was out there in front of everyone, body chiseled like a fucking Roman statue — flexing. I had taken CODX in the 18s, kicked it out over $20 in an hour. It was simple. I merely had to tap into my God given rights and make money. I jimmied my way into SLGG and then GNUS — because Kartoon Channel and chicanery.

The GNUS was doing fine, working its way higher. My gains were greater than 25% on an intraday scale and then BAM! — off with my fucking head in SLGG. Those bastards thought it’d be nice to RAPE the entire shareholder base on the LARGEST VOLUME DAY in company history with an offering. Oh, an offering you say? Indeud.

I ended up selling for a loss of almost 27%, completely off setting my magnificent gain in GNUS, which as you know was genius. The SLGG was like an act of God — no way of avoiding such rapings.

The market closed down 500, 200 off the lows. I do not have strong convictions about tomorrow, so I am mostly cash, 65% without any hedges. I do, however, now own several insane virus stocks — hoping for some continuation.

Crazy times call for a crazy leader. I am your man.

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26 comments

  1. indie

    Amazing collapse!

    $AMZN $ZM $ETSY $TCEHY $SHOP (and other gems) closed green.

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  2. Mr. Cain Thaler
    Mr. Cain Thaler

    I’m a fan of Stocklabs. Nice work.

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  3. Mr. Cain Thaler
    Mr. Cain Thaler

    Today in “How To Lie To Keep Your Price Targets Unchanged While You Sell Stocks”, Goldman Sachs everybody:

    “…the unemployment rate will peak at 25%, up from a previous forecast of 15%, as “more workers will lose their jobs and a larger share of them will be classi?ed as unemployed,” according to a research note late Tuesday.”

    “But the recovery is also seen as faster than before with a 29% gain in the third quarter, suggesting a more “V-shaped” or immediate recovery path for the economy. They had previously estimated a 19% jump.”

    See? No matter how bad it is or how far you’re off by, just assume it’s basically all back within one quarter. Then the forward discounted earnings series revives you.

    Now, if you’re also wrong about that 19% (now 29%) instant recovery…

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  4. Po Pimp

    I joined fly in the retirement parked in cash corner of the room today. Well I didn’t go 100% cash (never do) but I went to a bigger cash position than I ever have before.

    Market will now reach ATH by end of the month. You are all welcome.

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  5. purdy

    After reflecting on the following – https://twitter.com/titaniamcgrath/status/1260666129984499715?s=21 – I agree with everything narcist has said or will say.

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    • quietstorm

      Shhh. he’s decoupaging

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      • narcist

        Instead of wasting time posting random link that no one cares and coming up with middle school insults for me all night, you should use it to promote your $59.95 service while the site traffic is still somewhat elevated.

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    • numbersgame

      I’m sure that if white cops stopped murdring African Americans or allowing them to go unpunished, they would probably be okay going to life without trying kayaking.

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  6. dragun

    CLIX makes sense as to where things are going

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  7. fxtradepro

    QQQs will be slogging higher again by month end. Too much bullish energy in tech.

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  8. purdy

    Can’t find anything not to short here. I had been avoiding biotech …as it has a ton of support between here and March’s lows. But bought some LABD for a quicky.

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  9. purdy

    ‘I wonder what would happen if we cut ties with China?’

    Interesting musing when said by your buddy at a bar. But ..yeesh

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  10. edge

    50d is a pretty good target.

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  11. narcist

    Capitulation has already begun.

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  12. edge

    I sold! Up 1 1/2 % of portfolio. I’ll be back.

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  13. edge

    Woot! UNG Jan 30c. Up 100%. Which I did not sell.

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  14. numbersgame

    https://ibankcoin.com/flyblog/2020/05/09/look-like-market-ready-drop/
    IWM down 10% in a week.

    Bulls don’t care, because they think that that investors are pessimistic because QQQ is up less than 10% in 5 months on 30 million Americans out of work.

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