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
20,570 Blog Posts

I MAY BE HOOKED

Yesterday I got the idea in my head that it was over. I cleared out my positions and truly put my money where my mouth was and bought inverse ETFs. Knowing full well this was likely a stupid idea, I kept 80% cash to avoid the likelihood that I was about to fuck myself.

Lo and behold, as God is my witness, I fucked myself.

Full disclosure: I own SOXS, LABD, SQQQ, and FNGD — because owning SQQQ wasn’t good enough. I needed direct exposure to Apple, Facebook, Netflix and Google.

Markets are now ripping. But I got to be honest with you, I don’t see it. There is no strength in smaller names. All of the gains is concentrated amongst larger capped stocks. This, of course, might be another trap I am laying for myself, the root of a psychosis to make me believe danger is imminent — when it fact we are seeing merely more of the same BULLTARD movements to the upside.

At least my LABD is higher and my entire basis isn’t too poor. Net net, I am only down 10bps on this whole thing. See, there I go again — trying to convince myself this bad trade might turn around.

What I need to do is close these out and begin anew — pick overpriced pieces of shit for rapid fire trades to satiate an audience of craven money grubbing monsters.

More on this later.

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7 comments

  1. heckler

    Fly is the wind and also ? full time LARP

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  2. ha

    just got off the phone with Andrew, an Australian whose Amazon FBA business has taken off like a rocket ship lately. The good news: Andrew plans to do more than $2.5 million in profit this year. The bad news: the Australian tax office will ask for, by his calculations, about 42% of that. That means that Andrew’s Australian company is going to cost him $1 million.
    And that’s just this year.
    https://nomadcapitalist.com/articles/

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    • ericbakerbruce

      Dear ha (a/k/a Andrew),
      Your website blows. You’re a charlatan. However, I love the photos of the whores you have “working” for you. Mostly Eastern Europeans (based on their fake names), so they are animals in the sack, too. Kindly GFY.
      Cream

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      • ha

        I should have put quotes. It’s not my site. I wanted to post a link to that particular article, but the link was dead.
        The purpose of the link was for info.
        What beneficial info did we get from your post?

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        • ericbakerbruce

          Dude you’re a hack. You were hawking some stupid website a few threads ago (Katusa Research). We know….get rich quick. And then live in a low tax country (where the closest dentist is 300 miles away). Gold, gold, gold, crypto, crypto, crypto. Nobody on this site wants or needs your advise just like nobody wants or needs my advise. That said I am long IDXX starting today. Will sell at $486.

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          • alty

            You mean cheerleading the best asset class from the previous week isn’t helpful? Ha.

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  3. maxx2000

    Vol always increases at tops. You are hooked temporarily at best. Should be easy to wiggle off.

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