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
20,993 Blog Posts

BUBBLE IMPLOSION TERRIFIES WALL STREET — ORDINARY STOCKS JOG ON — SHADOWS OF 2014 LOOM

Pro tip: don’t chase those fucking bastards heading lower. The temptation is palpable and the allure of fast money great. Back in 2014, I was long the FOUR HORSEMEN OF DEATH and barely escaped its clenches. I was succumbed by great and avarice and ended up knifing lower by 30%, hammering my clients into dust. It is a real thing, a very real thing indeed, to behold and bemuse oneself with the specter of rapidly dropping stocks. But do not permit its horrors lure you into its fold.

Simply stated: chase performance. Today my Bubble Basket underwent a cataclysmic decline of 6%. It is now lower by 16% for March, 8 days in. My long term portfolio and Quant were busted hard for 5%, all the while I performed a master stroke in my trading, +170bps, closing at session highs because I did not chase rapidly decreasing in value shares, but instead went into retail and other storms that were gathering throughout the day.

Mostly, I was in cash and closed the session with 65% of my portfolio in cash, a cowardly affair. But it’s important to fear the bear when its nose is poking around, otherwise you too might end up on the receiving end of gnashing or two.

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2 comments

  1. traderconfessions
    traderconfessions

    I bought my first digital coins today. Why? Because I was bored. The top has been marked.

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  2. soupbone

    ARK coverage by your man Tyler is a great read. A big draw down anywhere is risky to all equities including value, energy, commodities and a divergence is short lived from my recollection. How are you liking your new stiff in DC?

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