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

Cleaned the Slate; Markets Do Not Bottom On Fridays

I had a lot of high bets gambles going at once, several of which bogged the fuck out today. The worst is APDN. I was up 19% intra-day on a day trade in it yesterday, slipped up and held thru earnings, and now I sold for a 7.5% loss. A lesser man would hold because his basis wasn’t achieved or because he feeeeeeelt like making money in it. I don’t give a shit about sentimentality and see things for what they are: rotten and awful.

Upside surprises all around.

Here were today’s closed out trades, so far.

(IMUX -18.6%) x2
(NNVC -10.8%)
(APDN -7.5%)
NAIL +13%
AHPI +8%
DVAX +7.1%
JNUG +9.3%
TNA +7.3%

The IMUX is my worst loss in sometime — happened after I chased a virus stock on after-hours news. I’ve made money before doing that — not today fucko. Today I took an L. I could hold all of these fucking stocks are feeeeeeeeel better about myself — but then I’d be just like you — wouldn’t I?

My macro calls were on point — the mysterious late day SOXL for TNA swap that had rookies in my trading room scratching their balls wondering the meaning of life. At the end of the day, a whole lot of nothing going on with this batch of trades — which is why I cut ’em loose, raised cash to 60%, in an effort to try again.

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11 comments

  1. tradercaddy

    Hello.
    The 1970s has called.
    Silver and Oil equities.

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    • tradercaddy

      I should have added small caps.
      Specifically 1973-74.
      Stock market history does repeat itself.

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  2. rickyretardo

    SRNE was wild, repaired my whole week of shitty life choices.

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    • purdy

      Crazy moves …but their entire mkt cap after this move is a fraction of what GILD tacked on on mere WuFlu “encouraging results”.

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  3. Po Pimp

    I was wondering if anyone else played the 350% 3-week increase in oil other than me. Seems most just stood around chasing shit stocks when a no-brainer was staring us all right in the face.

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    • tradercaddy

      I bought a boatload of oils through etfs (XES,OIH,XOP,XLE) and averaged down a bit during the time period of “negative” oil pricing when the negativity was as thick as ever.
      The sign was when oil service stocks were going up on every down tick of crude oil and the energy world was “ending.” I sold out 7-10 days ago with nice gains.
      I never viewed it as a sure thing but the reaction of the oil stocks to the price of crude led me to believe the bottom was in.

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      • Po Pimp

        I got lucky and backed up the truck on XOM sub 32. Like put in over a full year salary worth kind of backing up the truck.

        I doubt I get another opportunity like that in a decade. Unless the market finally wakes up, then I may be averaging down within two weeks.

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    • the_wolf

      Bought 2 quality names, up over 70%
      Uuiuuugggge positions

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    • indie

      Last 3 weeks have been very profitable for me.

      Buying $ZM following cray musk tweet was also no brainer. SAAS names have been outperforming.

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  4. wolfdaddy

    Always remember- no one with an IQ over 90 lives in Georgia.

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    • numbersgame

      In that case, tell me: how do you like living in Georgia?

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