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
23,011 Blog Posts

COVID Trading ( Do Not Recommend)

I’m just about fully recovered from COVID-19. It wasn’t too bad, aside from the fact that my taste buds have been converted into dirt and can only taste soy sauce. There’s no way this ailment was made in a China, given the Chinese affinity for all things soy. Why create something that would ruin your favorite condiment? I’ve concluded, this disease was simply an accident of when a man eats live bat soup and doesn’t wash his hands after picking up the bat and nibbling on its face for the delicacy.

I mowed into today with a full book of longs and I sold them all for a little SQQQ. This is nothing more than spiteful revenge trading. We both know it’s too late for do overs. Stocks are doing just about as expected following the FDX debacle. Retail is somewhat of an upside surprise and gold is always an enigma.

After two weeks of being laid out, tired more than anything, I managed to trade wonderfully. I completely lost all of my gains for September and so much more. I had been +4% and now I’m -4%. I’m at the limit of where I’ll accept losses and then I’ll force some slowing down, which is ironic since I had been trading slow anyway. With todays thump, I really got 2 or 3 days of losses all in one. Truly efficient.

One should expect a closing of the lows. I don’t see why not. Then again, you never know on a Friday, all sorts of option fags running around taking gambles.

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