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
23,491 Blog Posts

Smooth Sailing Till BLACK FRIDAY

Don’t expect much this week, as America girds into large vats of brown gravy. I’ll have you know, I escaped this morning out of most of my positions and made back what I lost on Friday, +66bps. You might then ask aloud “why well Fly, if it’s “smooth sailing” like you said, why the fuck sell?”

The answer is as obvious as relevant to the tape: I’m afraid to give it back. I’ve been in too many morning reversals to just hold onto a book filled with trading stocks. I feel like doing so invites calamity and the times I have held — markets reversed on me and punished me for my obstinacy.

This why I get to slow things down and hand pick new stocks, probably stupid and probably unnecessary. Nonetheless, my trading is CRUSHING the static quant portfolio of mine, which only trades once per month.

I suppose my methods will not change unless I start performing badly. Until then, I’ll sell every fucking open, no matter the circumstance.

For now, I own $RUM, $ILMN, and $UBER. In my opinion, UBER is a 10 bagger from here, my fat pitch. The RUM story is based off the censorship at YouTube and the stock, in a normal country, would be soaring — as people love free speech. However, we live in an evil country that punishes free speech making RUM risky for that very reason.

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