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Dr. Fly

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.

NFTs in Play Again

Ethereum had a monster move over the weekend, likely due to the coincidental craze in NFTs. The notable news was Gary Vaynerchuk stepping in for a crypto punk to the tune of $3.7m. I know, I know. Nevertheless, this purchase has gotten people excited about the space again. With ETH above $2600, I am not complaining.

I am playing the NFT boom in the stock world via TKAT. There are a slew of them to play, such as PLBY, OCG, DLPN and HOFV to name a few. The point here is to catch a wave and move on. Barely anything I trade I am loyal to or believe in a long term time period, with exception to stocks like CELH and YOU.

Early going markets are strong, fairly broad based rally that has potential. I love the fact cryptos are popping and I like the fact Chinese stocks are up alongside NFTs and certain EV stocks. All of the risk on sectors appears to be going, so hopefully we can enjoy a fruitful August as opposed to the very arid and salty July.

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Recapping July: Abysmal Hellscape

Like most things today, the market was in fact abysmal for the month of July — masked of course by mega tech monopolies whose share prices are on auto-pilot to “space.” A brief look under the hood, you will find skeletons of former traders now social media death-traps for plebs who wanted to believe in something.

Even greater detail uncovers what truly happened in July — all moments of glory in momo stocks gone — making room for risk off equities and an acute aversion to growth.

With the AHs spike in cryptos, my gains for July pushed close to 3%. Aside from my innate abilities to identify trends — how did I escape the wrath of a market born from devils and in hell?

It’s simple: I never held anything past 10am. I bought stuff and ripped them out Intra-day for trades and my overnight holds were sold at the open, permitting me to begin anew every day.

The only account I was down in for July was my Quant, which is a buy and hold strategy, one set of purchases on the first of every month based on the Stocklabs algos. My YOLO account simply goes all in on one ETF based on the SL Intelligence algos, which are designed for momentum.

All of the diamond handed troglodytes that were featured gurus in early 2021 are now revealed to be less than cubic zirconia. “The Fly” is an everlasting trust that defies time and gravity, withstood all tests thru time and has risen above all as a beacon of success and prosperity, in spite of the many tribulations that plague him and inordinate obstacles carelessly tossed into his path.

A great man once say “ FISH LESS, EAT MORE FISH.”

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JULY IS IN THE BOOKS — LE FLY FASTENS ANOTHER W INTO THE LEDGER

It was dicey all day for me — but I made it out of July a winner by just 1.7% — an etch that increases my winning streak to 9 months in a row. Like last month, I traded better early on and then gave it up the last two weeks. Heading in August, expect more of the same as we ebb slowly and then right away into lockdown.

I like IPOs, COVID mask plays, and a variety of China and crypto stocks. The market no longer gives a shit about all of the things you cared about in January. This is a different market and if you’re not keeping up with the times — you will lose.

How can you do that best? Join us in Stocklabs you absolute pavement apes.

Ciao

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FUCKED FRIDAY

I was doing fine up until I had a meeting for an hour and my stocks went down — creating an air of FUCKERY in my portfolio. I am down 130bps and I should be up. I deserve better. I an entitled to more.

The market doesn’t seem to give a shit who I am and what I am entitled to, however, and it’s frustrating as fuck to trade in a market that doesn’t really give a shit what’s going on. I am whining and complaining like a little bitch — because that’s what I do when things do not go my way. I lash out and argue with the Gods and curse them for plaguing me with misfortune. I was supposed to enter today with my dick dragging on the floor, ingratiated from the splendor of my genius. Instead, I am RACKED with losses and now find myself with the task of somehow trading out of it in a market without volatility and one that looks rakish as fuck. GOOD LUCK WITH THAT PAL.

There aren’t any narratives to weave into, other than MAYBE COVID lockdown/drug stocks and MAYBE crypto derivative stocks heading into the weekend. Lord knows what can possibly happen over the weekend. Why — we might see ETH melt up to $2500 and then on Monday all of the crypto stocks will prance higher.

If only life were that simple. What is likely to happen is nothing, other than casted gloom and doom filled news stories that barely give light to anything but perhaps a mask play. Get your N95s handy plebs — the COVID is going to run wild this Fall and you’re all gonna be forced inside your homes — tracked by $YOU.

On a side note, long term hold CELH still looks great — as they eat away at Red Bull and MNST.

Off to trade now, then walk the fucking dogs. As sure as I am here now typing, when I go off to walk the dogs, I will be bogged lower again.

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BOGGED BY BANANAS

At around 3pm my wife happens upon me with a question “do you love us?” Without thinking, I said “yes” and then found myself in an inexorable situation as an active volunteer en route for a bag of bananas. I had been trading well, but not great. I managed to twist and turn myself into a profit of 35bps before heading out to Whole Foods.

When I returned home, as I took the paper bags out from the trunk — two of them gave way and I had to scramble and pick up the items off the floor before concrete variant of COVID-19 permeated the packaging of my provisions. My wife entreated me with an AVOCADO toast, topped with bean sprouts, which I hate. I turned on the PC to the horrors of loss — down 15bps I was and still am and I woefully regret heading out for a bag of bananas. I know that had I been here to overlook each and every tick without pause, I would have made sure that I profited for the day.

Instead, I boast of nothing but stupidity largess — barreled and assed into the close — fat slow greasy and avocado’d.

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Trading is a Mood Sport

TREAT YO SELF to some steel lads. The market is a meaningless vehicle of greed and fear, whereby the participants are lured into life destroying gambits for a chance to make eeeet. The long term specter of compounding returns is something that is considered hateful to many young and enterprising FUCKED FOR FACES, who’d rather “YOLO” with their “DIAMOND HANDS” all the way back to the housing tenements.

While it’s true, one could make a terrific sum of money in a rip-roaring tape — this is not that and if you’re reading me nodding your head — it is because you’re not very good yet and haven’t figured out how to extricate your balls from your brains. I wrote two short books about this ordeal –back when ancient Fly was in his 20s — a swashbuckling broker in NYC trying to make eeet. I did until I didn’t and then I was fucked until I wasn’t. It really is a never-ending cycle of boom and bust up until the point you realize, dare I say, the winners have already been chosen and the rest of us are simply here to mop up the crumbs. One can find great equanimity with accepting this fate. One could enjoy a long fruitful life, if one eschews the pleasures of grandiose materialism promoted by scum and also forgoes degeneracy on a wanton scale. Many of you are unable to do this — due to your programming. You’re weak and lack discipline and need things to feeeeeel better and you also just want to fit in.

Confidence is a very fragile thing and often the people who exert it most are the one’s most susceptible to drawdowns and depression. As traders, it’s imperative we remain stable and happy, or at least not sullen — because trading is a mood sport and once your mood sours the gloom takes over and it makes you trade poorly. The best way to stay happy whilst trading is to plan ahead, which means position sizing and taking very fast losses and never being in a position where one has to stare at the screen in the hopes your prayers would be answered by some greedy goblin God who gives a shit about whether or not you can afford a new Porsche Cayenne. Sell fast, even faster when your ideas don’t work.

I’m +45bps early going, 85% cash.

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INFLATION IS STILL TRANSITORY

I don’t give a fuck what the Fed is doing — as long as people are without stimulus checks — inflation is a phantom. We will and we shall REVERT back to deflationary times after supply chains normalize, most likely early 2022. Naturally this could be extended if we lockdown again and MOAR stimmy checks are mailed to the poorest dumb motherfuckers who’ve ever walked this earth.

I gained 2.13% today, thanks in part to a large mammoth styled run in Chinese stocks. I played them and I continue to be long into tomorrow’s blades. I do not give a shit about risk, since I am attempting to turn around my months from an otherwise moribund and disgusting showing, +3.5%. If I am to trade and trade well, I would kill myself before only booking 3.5% monthly returns. I do not do this everyday for a little bit of fucking money. I want a lot of bit of a fucking money and I will not apologize for my greed.

The NASDAQ was +100 and we all feeeeeel good again. I cannot commit to a feeling now, other than to suggest rather emphatically — keep buying Ethereum.

Ciao.

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Doing Fine Now

All of the Chinese Burritos are running HOT AS FUCK this morning following a week of collapse. They’ve all fallen 66.6% and now they’re bouncing. I took this opportune to ingratiate myself with money and now stand before you +165bps. I am not boasting, since I got ass-hammered yesterday. I am merely stating facts.

Facts are, I am a GIGANTIC pussy now, 90% cash, gazing into the market through yellow lenses. I’d step in for some more action, if it weren’t for the indelible fact this MARKET FUCKING SUCKS. There, I said it. It’s rotten and no god damned good. You can bore yourselves to death or plunge lower in momo stocks — up to you entirely.

I like my chances sniping some more Chi-com trades and think I’ll do that. More later.

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RAN INTO SOME BLADES

I thought I was going to make it — had it all figured out. Little did I know, the VAX plays were only up into the CDC meeting regarding mask recommendations. As such, I ended up WORSENING my losses by 120bps and closed out the session 52% cash, -3.1%. This is significant because now my MTD gains are 1% and I now face the specter of losing money for the first time in 10 months.

Can I avert this disaster?

I do not think so.

I find myself challenged by this tape. Even on up days my gains are never RIBALD, always genteel. I have been drifting into and out of this tape, thanks mostly to the absence of true momentum. The era of Biden EV/Solar plays is over. We get nothing but mega cap rallies, followed by intermittent spikes in crypto and COVID related plays. The idea of doing this forever, in exactly this manner, is revolting.

I took a doubled sized position in a Chinese EDU play GOTU — because I am being reckless and almost desperate to improve upon today’s dreadful session.

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COVID PLAYS ON THE MOVE

Market is shit except for these COVID plays, reminiscent of early 2020 when the good folks inside of Exodus aka Stocklabs made large fortunes betting on the demise of its fellow citizenry.

Plainly, you might want to ingratiate yourselves with shares of drug and mask makers, companies shilling nonsense in order to buck their stocks higher. I am presently long APT, CODX and AHPI — but might expand upon that into the close. The idea here is to maximize profits as the scourge runs rampant and people with vaccines soon realize they aren’t any safer than a small birds inside of the cage trapped with a feline.

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