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
20,868 Blog Posts

CRASH EEEET

Small Caps were de-legged today, off by 3%. The world kept spinning and mega caps barely felt the difference between today and last week. All the while, the disruption in momo stocks has taken on a 3rd day. Some might argue that this time will be no different from before. I ended up down 200bps, in spite of having 50%+ cash the whole day. I made a quick sojourn into LGHL at a 15% weighing and came out +11%. If it wasn’t for that, I’d be down more than 3%.

Into the bell, I hedged via SQQQ, another 3 times the size position. I did this, not because I wanted to hedge, but because I want the market to crash.

Now my timing on inverse ETFs has been perfect as of late, perfectly dreadful. Each and every time I buy — market places the bears onto a skillet and SEERS them. To be honest, I expect nothing different this go around. Nonetheless, I remain steadfast in my ability and willingness to bet against this market every single chance given to me.

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4 comments

  1. tradercaddy

    Maybe you should have spent the day at the Country Club where the tea is sweet, the Southern Gentlemen are made of honour and tradition, and the Ladies smell like peaches and cottonwood.
    On the other hand, as Groucho Marx said, “I refuse to join any club that would have me (Fly) as a member.”

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  2. it is showtime

    couldn’t get the
    Stalk Mawrquet
    up today

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  3. tha pirate

    Iran tested the US resolve and had one of it’s terrorist proxies kill a US citizen in Iraq 4 days ago:

    So what was the Biden administration’s cuck response? Lift sanctions of course! So is it now that ANYTHING that Trump did, whether good or bad MUST be undone by the idiots running foreign policy now?

    https://www.washingtontimes.com/news/2021/feb/18/officials-us-rescinds-trump-move-to-enforce-un-san/

    waiting for ‘Purdy the Ayatollah lover’ to chime in with his defense of the worlds largest state sponsor of terror and murderers of US servicemen in 3, 2, 1.

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