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
23,139 Blog Posts

MARKETS OPEN THE WEEK SOFT — But the Trend Remains Bullish.

I squandered an early gain of 87bps — but I had no choice in the matter. My balls, for all intents and purposes, have been CLEAVED OFF CLEAN — by way of the weekly quant allocation. I am FORCED against my will to be 100% long and trade around it — because I know betting against stocks for long periods of time is a SUCKERS BET no matter how much ethanol I drink and no matter how many nukes Putin thinks he has.

Truth is, I traded down 5bps and hedged it with SOXS at 20%. I am also leveraged to the tune of 146% — because why the fuck not?

I deserve to have money and boxes filled with cigars and large resplendent wine cellars filled with crates of DRC.

Tomorrow my algo account closes out the SQQQ short, which was initiated based upon the overbought signal. This is the first time I have made a trade based on OB — because the prevailing trend, prior to 2023, had been to fade the market. However, that didn’t happen, as you know, and Stocklabs was FESTOONED with clusters of OB signals — a clear signal of sentiment shift for those who know.

I want to believe many things and those things are ideas floating around in my head, brought on by aspirations, frustrations, and many other inputs received from my environment. But one thing is indelibly clear, in spite of today’s -400 Dow showing: risk is on. When risk turns off I will once again sigh a breath of relief and make money betting on the destruction of western finance as we know it. But until that happens, markets are presumed innocent until proven otherwise.

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