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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.

Taking it Easy, Trading Slow

No collapse today. Here is the breadth breakdown in the market, via Stocklabs. Too strong in big caps to see any tangible drop in markets today. I sold my TZA and reshuffled again, down about 35bps for the day.

My daughter is graduating HS tomorrow, so I will be out of pocket. I cannot believe where the years went and I know it’s cliche to say that but fuck. I sometimes wish I could make them all (my 3 kids) little again — keep them about 8 years old forever. Life was better then — but that’s just me being selfish. Going forward, as my kids grow older, I will try my best to empower them and help them into adulthood; but as you know, life has a way of being the ultimate teacher, so sometimes the best help is to leave them alone. My entire life has been about raising my family and trying to give them a better life, better than what I had, and to raise happy children who could thrive in the world. This is a lot harder than it sounds due to all of the variables. Sometimes when you bottle them up and keep them in a bubble, it works the opposite of what you intended, so there has to be a balance. Either way, I am both sad and excited to see her graduate, as it marks an end of an era and beginning of a new one where she will be traveling far away to college to pursue her dreams.

As for the market, trading slow as molasses dripping off a summer table in the middle of a corn field in July.

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LOOMINGS LOOM

I was distracted all day but still managed to trade to a gain of 1.2%. I am somewhat bearish on tomorrow’s open and hedged with TZA, XLU and VXX.

The idea that we can freely escape the pangs of GME-DOGE cabal is laughable. Cum Rockets to your face — the Safemoon isn’t really safe. BEHOLD as we descend into hell and cycle fastidiously into the fires of summer.

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THE BOUNCE WILL BE FIERCE BUT BRIEF

We are all enjoying the splendor of the market again, reminiscent of a time and place when CHAMATH would post his returns on Twitter in between half naked photos of himself displaying his very weak and malformed legs. Those were the halcyon days of the market, late 2020, early 2021, when we all took to the market with great alacrity and made the short sellers cut off their own genitals. We’d walk into the office both proud and rich, fat from the gains enjoyed in the stock exchange. Whenever things went down, we laughed and bought more.

Then the rally become ribald in nature and the GME-DOGE losers ruined it all for everyone — mocking the stock Gods with their profane actions. Ever since then the market has been in disarray, until the past two weeks where we have once again enjoyed a respite and gains on a scale nothing short of industrial. Alas, all good things end and bad things continue eternally. Like we saw in 2014, when the great tech collapse nearly cut off my own genitalia, we are bouncing now and hard but it will be short lived and once it ends, providing you are still long CHAMATH styled stocks, you will rue the day your Mother conceived you.

Heed my advice now and forever be grateful, milk this rally to the best of your abilities and be gone at the first sign of trouble, for when it ends it will end for the balance of 2021.

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EXTREME GRANDEUR UNDERWAY

In August of last year I took a sum of $100k and dedicated it towards trading only with Stocklabs tools. This entailed eschewing any semblance of technical analysis, relying solely on our mean reversion and more importantly volume tools. My trading changed drastically, preferring day trading over swing trading. At first users inside SL were taken aback by the sheer volume of trades and flip floppe characteristics of this trading pattern.

Ten months later I can show you what people inside SL see every day, my portfolio laid bare for users to shadow or analyze, 5x since inception, +222% YTD. Rules are simple: 5% sized position, keep losses under 10%, preferably at -4%, and only trade stocks and apply leverage when needed (rare).

Is it the platform or me?

I have always been good — but not this good. Best way to describe SL is it takes my already potent talents and places it on steroids boosted by fucking rockets. Nothing escapes me and my trading is more prolific than ever. I cannot see a scenario where Stocklabs cannot improve your trading. This is both a sales pitch and testimonial — because I am more of a trader than a businessman and can only tell you of my experiences as I document my trading career live on iBC.

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FLAGSHIP DAY UNDERWAY

So many things popping off I have little specific advice for you other than to pay attention to the stocks trending on Reddit and those with heavily shorted small floats. We have palpable short squeezes taking place now and the momentum is severely against those who think stocks will go lower.

The idea that WEN is now a meme stock is somewhat hilarious, but makes sense.

I can hardly position myself with utmost confidence now since of course all that you see before you is shit. The crypto market has been up-ended and I need to point out cryptos are in crisis mode, as the Gods punish the likes of Max Fucking Keiser severely for being cringe. I hate everything about the people who shill for BTC — but of course like the concept of ETH and the COCKCHAIN.

Into the closing hours, expect more squeezes. I am keeping cash upwards of 70% as I meander in and out of short squeezes for short term gains — which stand at +400bps now.

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MEME STOCKS RUN ABSOLUTELY WILD

It’s happening. Shares of WEN have finally joined the meme stock parade of extremest winners +12% on a fever that is infecting just about all stocks heavily shorted. GME is touching down on $330 again — $AMC $60 and today’s big winner is CLOV — +65%. The common thread in all these is % of shares sold short in excess of 15%.

You can do some scans on your own but I will tell you your screens will not be as good as Stocklabs. Presently, I am up nearly 300bps, playing stocks like VLDR, RMO, WKHS and KODK — just to name a few. I don’t know when this ends — but I know it’s stupid. Deep down, you’re all just really dumb and stupid, vapid boozehounds in search of a glimmer of hope. Why not partake in wanton degeneracy? Take 5% of your assets and buy a stock with it. Play the game until you stop winning.

I can tell you without pause that trading is as important to me as anything in my life, save my family. It offers me a puzzle each and every day to attempt to solve and I am blessed with a great community of traders who have the same goals. If you’re doing it on your own — you’re doing it wrong.

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HOUSE FLY INTERRUPTED FROM GRANDEUR

I was having a splendid day, trading magnificently, in and out with a restless normality commiserate with a person accustomed to gains largess. But then Mom Fly entered the fray, as she is visiting me for a period of 25 days. I could not escape the lectures and the incessant chatter and soon begun to trade desperately and then stupidly. At the apex of my meltdown, I doubled down in HOTH and booked a loss in it at -5% only to bear witness to an incredible spectacle as it sashayed higher with the greatest alacrity, halted trading for upside chicanery, higher by 30% on a contract news item.

My trading was thereby cursed for the balance of the day, as I registered 110 trades on a day that I only needed a few. I walked away +67bps, down 130bps from session highs, morbidly depressed and angered by my lack of presence in this tape, one custom designed for my market hand. We had great movements and volatility in a variety of industries and I only managed a pedestrian gain. Even worse, I closed out the session on full tilt, nearly fully invested into the blades of what will sure be a sharp downside reversal — since my trading is both now cursed and harangued by Mother Fly.

On the brighter side of things, I am on pace to gain 30% for June, presently and obnoxiously +8.6% MTD.

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Massive Lift in Biotech Stocks Broadens the Party

Alzheimer stocks are on fire today after Biogen got FDA approval for their drug therapy, the first break thru in decades. This trade has been simmering for weeks with largess gains in SAVA, LGVN, ACIU to name a few. Soon after, the entire gene editing sector lit aflame before cooling down a bit. I managed a few solid trades and increased my gains to +190bps. I am presently 26% cash, looking for new trades.

Interesting stat via Stocklabs. It appears buying the morning dips is an extremely profitable avocation.

Hourly returns since late May.

Bitcoin dipped a little bit this morning after FUCKED FOR FACE backwards pants man said Bitcoin was a scam and the dollar should be the world currency. I cannot express to you in simple terms how annoying Trump’s financial advice is to me. Just know, I am glad he’s out, even if I have to deal with the pangs of Jim Biden’s nonsense.

Dow is off by 150, NASDAQ +10 — but there are extreme pockets of strength in innumerable trading venues.

More on that later. If you want real time access to my calculator brain — join Stocklabs you cheap son of a bitch.

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In the Process of Breaking

Short squeeze stocks have stolen the show again, let by the pavement apes buying AMC. This moronic display of verve has spread into other names and I of course am playing them. Stocks like WKHS and CLOV have lifted the fuck off, in addition to traditional moron plays like BBBY. I am anticipating runs in other “meme stocks” and have purchased a handful just in case. I realize that what I am doing is on par with burning cash in a flaming barrel of garbage — but I just don’t care.

If perhaps I was a younger man again, filled with perverted thoughts and thought about life and went about it stupidly, I too would own AMC. But for now, I cannot get myself to do it, not even for a trade. That being said, it’s easy to make fun of the meme stock warriors — but look at AAPL: an absolute fat and disgusting display of a ticker symbol who once wore former glory. It’s all over now for traditional tech. You might as well get used to see PETS trade higher, all the while your tera-cap stocks pang lower.

I opened down 70bps but have since traded back to green, or slightly red, depending on the moment in time. I am more or less flat with 68% cash.

Yes, Stocklabs has launched. Feeeeeel free to come on in.

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Piece of Shit Elon Musk Strikes Again — CUM ROCKET EDITION

Once again Elon Musk took to Twitter to play with his marionettes. He tweets and his little minions with sub 100 IQs react and make sooooo much money. Yes indeed, life is grande when Elon tweets in your favor. However, some times bad Elon tweets mean stuff and that causes sad faces amongst the marionettes, causing them to lose large sums of crypto cash.

Today’s shit-post is CUMMIES! Yes, Elon has broken up with Bitcoin in favor of Dogecoin and is now cheating on Dogecoin with a crypto named after sperm — that does nothing and has zero utility. I hope you realize that Mr. Going to Mars Soon is playing an insidious game of undermining the crypto space by eschewing the real cryptos in favor of the one’s who everyone knows are all just fun and games. This is the best form of undermining something, equivalent to Consumer Reports favoring a make believe electric vehicle while panning Tesla for being a piece of shit that is cause for concern since they run on blood batteries that wreak havoc in the poorest places in the world.

If you’re long CUMMIES — HOORAY. Your God has made you jump over a rainbow and into a pot of gold — you little Leprechaun son of a bitch. This price movement, sort of unusual dare I say, must’ve gotten big laffs out of acid tripping Elon and his bitch wife.

 

Related: Cryptos careen lower after latest Elon pump.

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