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
21,906 Blog Posts

CONGRATS: TIME TO CELEBRATE #SUCCESS

What you saw today was classic oversold pattern caused by fear and forced liquidations turn into greed and a rout for overzealous shorts. The feeling of doom is contagious and it’s easy to believe in more downside. But when things get dicey like this it’s important to NEVER SHORT and only buy. If you were on edge it was only because you were too exposed.

We traded like gentlemen scholars inside Stocklabs today, full cocktail attire with tux, top hats, canes, and monocles were mandatory inside our halls as we traded out from deep crevasses and into success. At the lows of the session, I was down less than 2% and I closed +3.5%, with roughly 42% cash for more buying tomorrow. My algo account based on our mean reversion signals was up nearly 7%. We bore witness to a short oversold rally and now everyone is wondering what will happen next.

SIR.

Greed will happen next and panic buying, especially if the Russian crisis is resolved with only giving up HALF of Ukraine.

We trade without emotion and we do not get chopped. Tonight we shall celebrate over bottles of Champagne and gratuitous carbs, marking the day when people looked into the abyss and decided to dive in. We did not and now we’re flying high and nothing can stop us — you fucking faggots (no offense to my large gay readership).

 

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7 comments

  1. tha pirate

    (Macho Man Savage voice): “Oh YEAH!”

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  2. Mr. Cain Thaler

    Australian CPI numbers just reported. Higher than expected. No topping in the land down under.

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  3. Mr. Cain Thaler

    Wow, futures…

    We really aren’t getting a relief rally yet. Are we?

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    • iflyjetzzz

      Well, that dead cat didn’t bounce very high.

      Back to cash and wait for the next oversold dead cat bounce.

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    • discoordinated

      I am uncomfortable with both sides. I bought SQ puts at the close and I’ll probably sell first thing. Happy to have any winner in this mess.

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