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

Back in the Wheelhouse of Redemption

What an insane fucking day. We went from ripping higher in the morning to sheer collapse in the afternoon to meltup at the close, with the NASDAQ +90 and the Dow mostly recovering its 400+ drubbing. In a tape like this, it’s easy to get raped if you’re playing both long and short.

I got a little bogged with some shorts initiated at or near session lows, and ended up giving back much of today’s gains. It was an indecorous day for me, since Stocklabs was down for the past two days. I am simply incapable of functioning without it and do not know what to do when it’s down. I won’t get into the details as to why it was down, just know we are back up and running now.

I finished the session +27bps and 105% leveraged long because there isn’t a reason to sell stocks, especially after seeing shorts get their hearts ripped out from their chest cavities today.

Although Hello Kitty is back with $200m in $GME and I hate the distraction, we are inexorably long and bullish into what appears to be a collision course of civilizations which is sure to bring tumult and violence of an unprecedented scale. I would not be surprised to see the planet rocked by asteroids soon, plunged into a permanent ice age and still bear witness to stocks hitting record highs.

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