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
20,626 Blog Posts

Rotation into Value and Also SPACs

Just when you thought markets were assembling to rotate into value, seeing TSLA down 8% and KO +4%, a wide pastiche of fucking SPACs broke loose.

Admittedly, I am fully long these SPACs, positioning for more degeneracy.

My booked trades so far.

(RIOT -9.1%)
(APPS -7.7%)
FEAC +6.3%
SPAQ +5.6%
TRNE +7.1%

Many of my other positions are LOWER due to rotation — but I’ve been making some of the losses back with well timed day trades. See pal, this is the difference between you, and a person — such as myself. I went into today with cash and will leave with cash — always prepared for eventualities. Markets offered me lemons, so I made lemonade. That’s what winners do. That’s what The Fly does.

Before I talk too much shit, I must remind myself I have a mind numbing amount of exposure to all of the highest valued stocks in existence — the worst values to ever hit markets since the Carthage Exchange peaked.

I’m also short oil, so there’s always that to fall back on.

Breadth is a tepid 53% and morons are buying KO. I do not believe we are ready to roll over just yet. Perhaps I will be proved wrong and lashed across the face with a leather strap. Or, perhaps none of that shit will happen and I will sell my SPACs for handsome profit.

Either way, it’s never a dull day.

NOTE: Trades are not given to PLEBS here anymore, for they are reserved for the gentlemen inside Exodus only. EXCLUSIVE ACCESS!!

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5 comments

  1. tradercaddy

    Not being a former investment banker or otherwise, I didn’t know what a SPAC was as aforementioned.
    I thought it was a derogatory term that perhaps Grandpa Fly used in referring to his Puerto Rican neighbors.
    I looked it up.
    Thanks for improving my vocabulary.

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  2. purdy

    TSLA off, ZM off, oil off, VXX up. Qs shooting their final load. (For the forth time.)

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    • maxx2000

      You know what they say… four’s a charm!

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    • it is showtime

      It was clear, that a vertical leg was being run, 4-6 weeks ago,
      (at least 4 weeks ago)
      Kind of corroborated now?

      (vertical detonation blowoff leg
      same fucking psyop as Jan 2018
      Sep 2018 Jan 2020)

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