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
23,329 Blog Posts

DEBAUCHERY IS BACK

I sold all of my margined positions at the open, many of which soared higher. I have a feeling of uneasiness about a market like this, extreme exuberance supported by retail. This almost always leads to some great big collapse. It doesn’t mean once we fall we are done. It only means, once we fall and the momo halts, those caught leaning will hate life for a day or two.

I’m still leveraged, although I also have a hedge now. I can see how the open was sold by most and now we are in the middle ground of greed and fear. I had been up 2.7% at 9:31 and as if write this now at 10:06, I’m merely up 0.93%.

Some new additions include JMIA, HOOD. I had to stop myself from buying more, remembering that I already had a fully long book. You can’t buy everything and you’re never gonna trade perfectly. With gains of +20% in early Feb, I really should shut the fuck up and be content. But I want more. I feeeeeeel as if I need just 1 more trade, just one more before I’m careful again. The market might collapse headlong into concrete cinder blocks. But if I could just have one more day of ebullience to grab more gains and more money, that’d be great too.

After all, I’m a good person, great even at times.

If you enjoy the content at iBankCoin, please follow us on Twitter