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
20,559 Blog Posts

The Snows Have Melted — Downhill From Here

Pro-tip for you stay at home traders: markets usually top out following large IPOs. It happened after FB, SNAP, and it just happened now with SNOW. It was the largest IPO on record and now it’s all fucked. The supply/demand ratio gets diluted, plebs dive in head first into the concrete, and next thing you know we’re swimming in blood.

I took liberties to TRIPLE my SQQQ position and I hold it as a hedge against my longs. I closed the session +2.8%, the highs of the day and I can honestly say without reservations — I am the very best trader you’ll ever come across your entire lives.

As a matter of fact, you could live 10 lifetimes and practice really hard how to trade and you’ll never come as close to perfection as me.

YTD gains off the charts. You won’t even believe me — steadily driving a fucking Subaru like a miser — living the life of a hermit inside of a lower level office — dimly lit and in complete solitude.

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2 comments

  1. barbee

    How long does this usually last? Buy now-or hold on till lower?

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    • edge

      Wow, Barbee. I can see that you’re very new to this. I would like to see you in cash right now.
      For everyone else I see bear flags with support at the 50d. That’s the story right now.
      The big news is that the fed is begging for fiscal help and they’re guaranteeing low rates…meaning that best case is a very weak economy.

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