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
23,495 Blog Posts

Hoping for a 2021 Redux

I ended up getting sucked into some low market capped trades, successfully, and closed the session +94bps. My losses have been reduced to under 60bps for the month and I will not rest until those frowns are turned upside down.

I ended the session with a super aggressive portfolio of shit, mostly geared towards quick flips. This can work out very good or very bad for me, all determinate upon the Gods.

On the whole, the market was extremely lackluster, other than the fact that $GME, $AMC and other meme related stocks blew the fucking brains out of short sellers. I am not negative on this move because the nature of short squeezes implies people to react to fear and/or pain. After such large directional moves to the upside, there are many many hedge fund managers praying to God for respite right now. If in fact we see a continuation of the $GME/$AMC rally, we might begin to see a truly ribald tape, whereby short sellers are executed in the public square and normies stream out from there hovels to declare themselves to be day traders again.

I truly welcomed this possibility, reflecting on fond memories of 2021 when the world was upside down fucked but money was extremely plentiful and markets magnificent.

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