My previous blog was written whilst I was disillusioned by the market’s overwhelming allure of upside faggotry. Like many of you, I LEANED IN hoping for just 1 more day. I would sell at the opening tick over a large plate of eggs and smoked salmon, laughing with a mouth filled with food. Why, I might even day drink and get that warm fuzzy feeling going when content and buzzed with the sun shining through the windows and onto my pale face.
But none of that shit is happening, for after the close of trade The Google Corporation and Microsoft Inc tried and failed to match expectations, solidifying the fact that the economy is more or less doomed. It’s all fun and games up until your favorite companies dump the fuck lower on a warning.
### NASDAQ FUTS CLOWN PUNCH LOWER BY 250 ###
Responding to this, whilst out shopping with Mrs Fly for some super awesome and amazing “beach cottage” lamps, I stepped in and bought an 8% position in SQQQ. One of the faggots inside Stocklabs immediately said “BOTTOM” after I posted the buy — but of course he’s wrong and I closed +2% on that position. Due to my longs and the quality of them, even with my DRIP and SQQQ positions, I expect to BLEEEEED out by 1% by 4am. My stratagem will be to navigate the market in a way that more or less stops the bleeding and preserves my monthly returns.
Let me say another thing here.
I am fully transparent with my trades inside The Pelican Room. People see my flaws and my attributes. I am +50% for the year and I am having a hard time. Do not be fooled by people on social media who aren’t accountable for their trades and just show you their highlight reel for the effect of gaining your trust so you can join their service. I would love new members inside Stocklabs — but I’ll never shill and deceive people into thinking I am a guru with all the answers — infallible. I cannot find comfort, even with all of the resources available to me, going all in long or short. This is the type of tape that requires large cash positions, no loyalty to a bias, and extreme nimbleness. I don’t hold anything past 9:45am and that’s the way it ought to be — because opening down 200 often turns into +500 and vice versa.
The average stock is down 40% this year. Do not be discouraged by what you see and how you are feeling. I have been trading since I was 10, seriously since 16, and this is hard for me. It will get easier. But you need to be careful with dreams and theories. Throw the playbook out of the fucking window. Russia is on the verge of lighting up your city with a Tsar Bomba, courtesy of Cadaver Biden.If you enjoy the content at iBankCoin, please follow us on Twitter
One doesn’t have to trade every day or week or month. That’s the secret of profitable trading. Takes 20 years to learn that lesson.
Beijing fucking with the global yuan this morning–global intervention on currency markets…. Pay no attention to that man behind the curtain