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
20,695 Blog Posts

Encouraging Tape — But Losing Money Thus Far

The day is young, but I like what I see. The breadth is more or less at 50% — both Dow and Nasdaq sharply higher. Commodities are dead — and I closed out my hedges for small losses. Still, I am off by about 1% this morning, thanks in large part of a pastiche of stocks not doing much of anything but trade lower. But I like my chances catching a seam today — because it’s Friday and because God has designated me as his go to money making machine on this flat flat planet.

In the event I am wrong, I suspects I could lose up to 3% today, given the shit that I own. But let’s not think about that and instead focus on the fact that I am 50% cash, with 100% of my balls intact.

Lots of momo stocks are getting hit and it looks like a giant raping out there. Nevertheless, I remain stoically optimistic!

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12 comments

  1. purdy

    Do they want Trump? If they do, they will keep the market up until November.

    But they’ve got to be concerned about this particular off-script violation committed by him earlier this week https://www.youtube.com/watch?v=-wQKpXabtUs

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  2. snoozer

    NKLA long just above 31. shorts will be taking profits and de-risking into he weekend.

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    • purdy

      Hope you’ve got stop in place. There’s not much risk holding short if one knows in advance that more evidence of fraud will be published over the weekend.

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      • snoozer

        there is much of a chance that supporting news comes out over weekend. but this is just a trade. already in at 31 and out at 33.49 once. back in at 31.06 ..

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  3. ha

    Business Opportunity
    Simulcasting sporting events such as the US Open.

    Much of the broadcaster’s commentary is insufferable. Rambling on about social issues and other nonsense. At least McEnroe is on topic, if subdued.

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  4. og

    Was riding high on PTON in the morning, but then the whole market tanked…

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  5. heckler

    One thing I’ve noticed is you stonks traders all seem pussy wipped AF right now

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  6. heckler

    Also fuck you Fly for spreading rumors I can basically guarantee you the Oregon fires were started by rednecks

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    • tradercaddy

      Probably.
      But they were in Oregon long before the California refugees, the hipster doofus types, and the pajama soy boys hanging in Portland and Eugene.

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      • heckler

        Shooting guns trucks that spark fireworks leaving campfires and the GAYEST OF ALL gender reveal explosions.

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        • tradercaddy

          I never understood that gender reveal stuff.
          But then again, I am finding I don’t understand much these days.

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  7. maxx2000

    As long as SPY closes green today, America is safe.

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