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
20,629 Blog Posts

ABSURD SEQUENCE OF EVENTS — NASDAQ CLOSES NEXT TO UNCH

There’s no bargaining with this sort of fervor. The Dow closed down more than 500, but the fag-heavy NASDAQ was only down 14, reversing what seemed like an endless pit of grease and fat — down 200 at the lows.

Midday, at the very lows, I felt like liquidating so I instead bought a fuckload of inverse ETFs, in order to “hedge my longs.” The result was instant loss. I ended up closing those trades for a 100bps loss. Other than that, I went on a 12 for 12 winning streak trading intraday and did a whole lot of shuffling back and forth for what is now a paltry 1.15%. I had been up 1.6%, but was raped by those “hedges.”

On my Quant side, I was up an astounding 3.4%.

What is the net result MTD?

Up 12.2% in my trading, down 7.4% in Quant.

I am, without question, better than the machines.

I closed the session 15% cash, all longs.

All my trades:

(LIVX -8.5%)
(JNUG -7.9%)
(APRN -4.9%)
(CLNE -3.7%)
(VERI -3.6%)
(PLUG -3.3%)
PIC +14.45%
ZM +8.6%
XERS +8.4%
PTON +8.3%
NLS +4.1%
OSTK +3.54%
SPOT +0.2%
STMP +1.4%
(BLDP -3.5%)
ACRX +14.75%
DOCU +3.16%
NLS +1.6%
SFIX +1.4%
QDEL +1.3%
AXGT +3.1%
PEIX +4.3%
ACI +2.25%
FSLY +2.1%
PD +2.9%
HOLX +1.2%
MVIS +4.1%
(SQQQ -4.4%) x3
(FAZ -2.7%) x2
(LABD -0.7%)

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7 comments

  1. it is showtime

    it is showtimeSeptember 2, 2020 at 5:55 pm
    – Hi inner wall st CB circle

    – 3590.

    – I just named a number
    – you cant get the S&P
    – to hit. Can’t even touch.
    – have a good day

    – -it is showtime, September 2, 2020
    ibankcoin.com/flyblog/2020/09/02/let-explain-something/#sthash.KryvCm7P.3ERxydfq.dpbs

    Beat you.

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  2. frankie

    Good Evening Dr. Fly

    I’ve been reading your blog for a long time. I love how you break down the market and explain to your readers what’s going on in the market currently. You’re very good at it. You’re the only blog I read.

    My question is why did you choose trading over buy and hold long term?

    Your figures on the pulse of the market and your research skills are top notch.

    Wouldn’t you make more money buying an undervalued stock and hold it for the long term?

    Sorry if this is a stupid question or something you have answered before.

    Best of luck trading this crazy market and thank you for your awesome content.

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    • purdy

      That is not the way to phrase your question if you want a response. I’ll help..

      “Fly Spec, you’ve been jackin’ yourself off boasting on your day trades and overnighters. But my cousin bought a bunch of stocks in 2008 ..and now he’s up like five-fold; beating the hell out of your 1.278% gains-offset-by-losses.”

      Fly 101:
      – Challenge the ego.
      – State stuff that is easily rebuffed and understates his performance

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      • frankie

        Thanks for the reply Purdy. So are you saying your cousin way is better than trying to trade this market?

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  3. soupbone

    Liquidity. Rush to the $US provides runoff to very liquid equities? It’s all new like always..

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