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
23,541 Blog Posts

Both Trickery and Chicanery are at Play

Let’s review.

The entire SAAS sector has been upended and destroyed. It no longer exists. Shares of $CRM, a Dow 30 component, is down 20% for the fucking session. TWNETY FUCKING PERCENT. Following her down the sewer pipe are $NOW, $BRZE, $CFLT, $OKTA, $CRWD, $NET, $MNDY and many many others. Total fucking bloodbath.

The semis are weak too, with weakness in $NVDA, $TSM, $QCOM, $AMAT, $MU.

And everything else is up.

Any fucking questions?

Breadth is at an annoying 63% and all areas of the market are strong, because why not? Sure, the growth names and the BIG CAPPED tech are lower; you know, all the stuff people own. But all of the other shit, the stuff no one owns, like $WHR, that shit is up. But it’s not all soured grapes. Shares of $HOOD are flying and $BTC is doing ok. If you really look at the tape you will see that it’s laughing at you. We keep flip flopping out from one stock to the next and the random number generator (algos) keeps us dancing and working real hard for those dollars.

DANCE YOU SON OF A BITCH, DANCE!

At any rate, I think I cracked the matrix and figured it out, and have positioned as such. I will not tell you what I am doing, not out of greed or because I want you to join my service, but out of fear you will fucking jinx me. Don’t even think about it.

I opened the session down 50bps, sunk fast to down 100bps, recovered to down 35bps, and now I am right back to where I fucking started down 58bps. If I have to endure any more of this shit, I am going to lose my mind.

126% leveraged long, no hedges at the moment.

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