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

GIGASPIKE INTO THE BELL; THE FLY’S REDEMPTION ARC BEGINS

Markets opened dispassionate and early going we saw proper rotation out from tech and into retail. I positioned alongside for there ride, selling my tech and industrials, and bought names like $BBY and $TGT hoping for a continuance.

Before the afternoon meltup occurred, we had various drops that I expertly played on the short side. My goal wasn’t to make money net short but to reduce my losses of current longs by 10bps here and 20bps there with the intent of eventually finding the pivot to ride it higher.

That’s exactly what I did and to be honest I haven’t been this focused on my trading in a long time. I had previously been sloppy and unfocused, taking for granted my early success and allowing my methods and discipline weaken. But these last two days were intense, as I micro managed my positions and built them using theories and shifted out of them for specific reasons, whether it be technical resistance or desire to lower or increase portfolio beta.

I say all of this shit as if it negates the fact the market did this into the bell.

There is some truth to the futility of our efforts when it comes to markets, but I am living proof that individual expertise can and will make the difference.

Nevertheless, I gravely underperformed my own Quant for May, booking a gain of 0.65% vs the once per month algorithmic based system Quant of +5%.

I can lament on that, just like I can lament on the overall condition of my country but that wouldn’t do me any good. Instead, I am focused on the future and optimistic things will go my way, because I am manifestly intent on bending the will of my singular fate into the positive.

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2 comments

  1. Orson

    12:30 PPT charade?
    Yes, I still fully expect it to crater. How else will we reach price stability.

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  2. soupbone

    Orchestrated 100%.

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