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
20,688 Blog Posts

HUBRIS COMES BACK TO BITE TRADERS IN THE COCK

This is a well deserved beating. I hope each and every TikTok investor gets wiped out. Getting wiped out, or “zeroed”, builds character and makes you hate the world. Later on, you can use that hatred to power your path towards greatness. But first, you must be destroyed.

Seeing that I bought back into the Quant hours from the top, I’ve concluded that I am, in fact, the main character in the simulation. There is no other logical explanation for this occurrence, both selling the bottom and buying the top in an otherwise chaotic mess of randomness. I did have to take losses today; and for that I am saddened.

Truth is, I realized I was wrong the second the market opened. I had two choices — suck the markets dick and wait around for something cool to happen, or become the man I was destined to become and take losses like a fucking man.

Needless to say, I chose the latter.

SABR +10.1%
LCA +6.7%
RVLV +2.6%
(SE -9.7%)
(ZI -4.9%)
(DDOG -6.3%)
(AAOI -7.3%)
(SPT -8.8%)
(VNET -8.6%)
(AMBA -9.8%)

Cash is 55% in my trading. I am still moronically 100% long in my Quant, which is 50% of my assets. That is a BUY n HOLD for 1 month. So, I will watch it melt down into the fucking ground — mocking me with its heinous losses.

SAAS is -6.5% now. It’s easy to believe anything now — further weakness or upside reversal. I will, however, bide my time and try out a few things before making a determination.

If you want a good laugh.

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14 comments

  1. purdy

    Naz plunged to levels not seen in a mere handful of trading days and gave a kiss to it’s uptrend line. If I were smarter I’d lighten up my short here …but I’ll watch awhile longer.

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  2. tradercaddy

    A bit violent but the rotation continues from large cap growth to value oriented (energy,financials, etc.).
    This should last awhile as these were undervalued for a long time especially energy.
    Apparently word is out that insiders have been buying drillers.

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  3. maxx2000

    Trump realizes he has to “let a little air out” because he can’t keep it elevated thru Nov. Never an easy game to play. He’s as freaked out as anyone today so of course one more over-reaction to the upside is due before any real fireworks after Labor day. Carry on.

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  4. heckler

    amazeballs

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  5. bob smith

    Q: What do you get when you wake up a hibernating bear?
    A: A very angry and very hungry bear.

    In other news… if gold meaningfully breaks the uptrend line that started on 6/5/20 with volume, look out below.

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    • purdy

      Dollar still looks to be setting up here for another leg down. Wouldn’t dump gold unless dollar short fails.

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      • bob smith

        While gold is correlated with USD, a significant market downturn will lead to liquidity issues where indiscriminate selling causes gold and other liquid assets to crater.

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        • Po Pimp

          There is no liquidity crisis when the brrrrrrttt machine is going full speed. That’s why it exists.

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  6. maxx2000

    PPT needs to step up here… margin clerks are manning the phones…

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  7. heckler

    I love how Fly took it up the bum like bottom bitch at the lows – only to come back up for the money shot at the top!

    I also think Fly is near the center of the simulation, close to myself in fact. And, that Fly and I will meet someday

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    • trumpmeister

      When you’re a used and abuse talent, you need to take it deeper up the rear to keep the grain train going to support your cocaine infusion lifestyle.

      Fly will soon be spotted at some soap house servicing some grandpas and grandmas.

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    • heckler

      He’s great with an idea that lasts 6-12 hours. Macaroni zeros longer than a day so sad

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  8. Po Pimp

    Just buy the fucking dip you stupid faggots.

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