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
20,473 Blog Posts

MARKET TRIED TO GO DOWN — BUT NOW WE’RE HEADING UP AGAIN

I got bored so I took out a 5% position on SPAQ and sold it 5 mins later for an 8.9% gain. See pal, there are many types of people out there, but mostly two. I am the type of person that drives a fucking RAIL-NAIL thru your head for making fun of portfolio. Sure these stocks are degenerate and not the type of stuff a gentleman of my standing and stature should be seen with, let alone invest. But we’re living in NEW TIMES now where anything goes and nothing can stop us.

My booked trades so far.

NKLAW +12.8%
GLUU +6.6%
QFIN +8.2%
HMI +4.1%
(NK -1.6%)
(IDEX -4.5%)
(APRN -4.9%)
SPAQ +8.9%

See, you have several choices in front of you as a young aspiring man in business. Starched collars, stiffened neck, soft bellies. You can head out there into thew wild and brave it on your own — ill equipped to fend off the winter elements. Or you can simply sit down and eat fish, like a good patron, and shut the fuck up.

Why, if I could take stock picks from someone like me, without being someone like me, I’d jump at the chance, an automatic money printer — a person gifted with talents of coin production — a regular man about town picking stocks so that the masses do not need to bother.

A man, such as this, dare I say, is a national treasure.

The Nasdaq reversed a 100 point deficit and is now up 25.

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29 comments

  1. peaches

    I put 3k in a Robinhood account.

    33/33/33

    TMF/TQQQ/cash for options on XLK

    XLK calls everytime nasdaq opens negative.

    Any profits get shoved back into TQQQ/TMF. You can buy fractional shares and buy $5 bucks at a time.

    Too fucking easy. This ends horribly.

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  2. peaches

    Put half of my IRAs on the TMF/TQQQ train also. Fuck it.

    Half my net worth is in gold. I got a career in tech.

    Whatever happens I win.

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    • warpig

      OK peaches I’ll play, minus the RH fuckery. 25% of my retirement account into TQQQ/TMF (2/3 / 1/3 split). I’m 31. The cash was just sitting there so who cares

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      • peaches

        gotta be 50/50 and u gotta rebalance otherwise youll end up losing everything when reality strikes

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        • warpig

          Reality is out the window. I’ve been stubbornly patient for the V to revert and pullback, with a few shorts on (slightly net long on investments but really mostly cash) for 3 – 4 months. I’ll take some ups and downs on the ride when TQQQ is a 30 year bet on tech which has proven to be pandemic/riot-proof and fundamentals are out the window. What is going to change the psychology of the unsophisticated RH trader who knows all he needs to know is the entire system has an infallible FED backstop. Large-cap tech will continue to lead the way for years while the majority of the little guys sputter along (hence short RTY, TZA).

          How often will you rebalance?

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      • peaches

        Or NASDAQ goes vertical.

        TZA was up and TQQQ was up on the same day.

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        • rantics

          But that’s no surprise.

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        • narcist

          Back in early March I said many times that the COVID pair-trade of the year would be long-NQ-short-RTY and all the decent/good traders I know are still balls deep in it.

          Just that one trade has made us huge profits in the last 4 months.

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          • peaches

            I saw you said it yesterday or the day before.

            It’s really breaking out now.

            How much longer can this happen?

            Does it mean nobody is buying stocks and that all the momentum is futures and options on N100?

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          • narcist

            https://ibankcoin.com/flyblog/2020/03/11/are-you-not-entertained-3/

            That’s one of those earlier days. But I’m sure I first brought that up at least a week before that.

            Re: How long this can last… The answer is longer than we believe it can last.

            The smart money will push this to the limit until this whole thing crashes–but that may never happen because the COVID narrative (on the many good reasons to long NQ and short RTY) is still intact.

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          • peaches

            damn… nice homie!

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  3. soupbone

    Thieves and whores is all in a zero sum game here. This can’t be helping anything.

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  4. narcist

    @Cain

    When I say “current demographic trends” without bringing up immigration, I mean the following:

    1. The Republicans have won the white demo while losing every nonwhite demo by increasing margins in every election since 2000–with the exception of 2016 when Trump did slightly better than Romney because a significant number of minority voters opted out of the election instead of voting for Hillary.

    2. Every nonwhite demo has a birth rate greater than its death rate. The opposite is true for whites. Both facts contribute to a more “hostile” electorate for the Republicans. (That’s why non-white voter suppression is so urgent for the GOP.)

    3. Look no further than Jacksonville, where the GOP is (still?) planning to have its national convention next month/September. It has been reliably Republican for decades until the city fell below 60% white, then it turned Democratic and will stay that way:

    https://www.jacksonville.com/news/20181106/how-duval-conservative-county-turned-purple-with-shade-of-blue-in-2018

    Trump has only made things much worse for the GOP. Now even fewer nonwhites will ever vote Republican. And you still haven’t got your wall. Immigrants (both legal and illegal) will still come and stay and reproduce.

    That’s why I love Trump.

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  5. purdy

    Obviously reasonable intelligent, the board’s permanent victim class shill, Narcist, is likely aware that immigrants to our welfare state are more likely than natives to vote for free lunches for anyone who under-achieves …thereby assuring that they and their children will, on average, remain forever of lower IQ and lower in accomplishment. And so, forever dependent on the political whims of those on whom they depend.

    Peoples and races are lifted by struggle. Celebrating Trumptardation or Demtardation is buying into the happy distractions of those who are only concerned with their own short-term benefit and not with the health of our people and our country.

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    • narcist

      The “victim” class is winning, dear Fly.

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      • narcist

        Another thing, the members of the “victim class” will never agree with your assessments about (native or foreign-born) non-whites having lower IQ and being otherwise inferior–unless the American citizenry chooses to keep them that way.

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      • narcist

        I do feel the need to reiterate that I personally feel blessed and not at all victimized to be who and what I am in America in 2020.

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    • narcist

      Also, most of the indirect “victims” (as in the descendants of slaves) are indeed celebrating the permanent demise of the Confederate legacy that (the new) America no longer should feel obligated to protect–and plenty of “woke”/”liberal”/non-deplorable whites are doing the same.

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  6. bennyhill

    Fly I’m going to send you my q2 exodus trade returns via email. From a guy who tries to trade from the emails while working a full time job.

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