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
20,989 Blog Posts


It quite literally is over. I also met CATACLYSM in my trading day. As I gallivanted to and fro, I was met with a sharp metal object to the face — bludgeoned and destroyed. I am off by 410bps now and I have all but called it a day, presently 90% cash.

My process was simple: repeat the shit I did yesterday, which was to chase high volume explosions in the crypto space. It worked like a gem yesterday, up 10%. And today, in the morning at least, I was barreling into large swaths of cash, grandiose pleasures and the fortitude to see it through. Then the reversals came and those upside down frowns because frowns again. Stocks like TKAT and OCG were met with DISASTER, as people fled the NFT sector for fear their dicks would be severed.

It’s especially SAD because I was up so much, feeling so grande. I was going to buy Tiny Tim a new wooden crutch — but now he has to die — because my NFT related stocks COLLAPSED, leaving me in a most forlorn predicament. I suppose I could look at this ordeal in a half glass full manner, which is I am +5% since yesterday. But I will not do that, Sir. That sort of thing is for weaker men. But I will go into my process of trading, now that I am here and awfully chatty.

I look for stocks within 3% of session highs, up more than 4%, sporting a 4+ technical score from Exodus, and volume greater than 500k. I look for trends and have endless baskets of categories to help me identify them before others. When I find a trend or a pattern, I jump on it unrelenting. I chase shit +50% all the time, in the hopes of squeezing out another 5-10% or so. I do this over and over and over. I cut my losses when stocks hit -10% MAX or if they look sloppy and tired and the trend quit. On days like today, off 4%, I all but shut it down. No sense it making a greater FOOL out of myself. Tomorrow is a new day. I would say my guiding principles are to be very quick in taking gains and losses and working on my volume of wins vs the size of them. I always start positions off at 5% of my portfolio, rarely go more than 15%, and I usually just stick with 5% and move on. I will average down if the stock I buy quickly drops — because quick drops are usually due to a big seller and once that fucker is gone — the stock can recover. I am quite successful in finding the right point to average down. Recently I enjoy selling everything in the morning and starting anew. The gains are so great, it makes little sense to hold stuff from the day before.

I run through 40-90 trades per day and sometimes I book 10 losing trades in a row. I am never emotional or sentimental about trades and view myself as streaky, with a penchant of wanting to risk too much. So I check myself by forcing myself to sell when my positions are heading down. Because I don’t want to sell them. In my head, I cannot lose and XYZ is only down 8% because it’s resting. Truth is, the market knows more and the market always wins. So, it’s better to cede to it, rather than fight trends, a losing battle.

Currently we are seeing the 2014 narrative play out. Bubble stocks are off by 23% the past month. Pedestrian logic would suggest we might be bottoming soon. I think we are just getting started. These fuckers will bottom after down more than 50% from the top. Meanwhile, most of the market will be fine. We might even find a week or two of severe upside reversals. My opinions are truly meaningless, however. It’s best to deal with the market day to day, position accordingly. Right now we are DOOMED.

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Anyone who owns bonds is getting their brains blown out, as yields SURGE to new recent highs. The 10yr is up a staggering 11bps to 1.75%, in what we can call yet another irrational Wall Street panic fest sponsored by morons. Have we learned anything at all these past 10 years? The Fed WILL NOT mess with markets. We own them.

The NASDAQ has succumbed to CATACLYSM, now by more than 200. At the same time, NFT token stocks are ripping heads and shoulders off. Stocks like TKAT and OCG are leveling whole cities and the people who own them (LOOK AT ME) have the biggest dicks in the world.

That being said, I pressed my luck even further today and went from down 100bps to up 100bps to now down 200bps — because moron. I bought everything that ran up, and now I ride them as they go lower. I took the Ls, cut the losses, and now have 55% cash — but the stocks inside my portfolio are still weak.

Alas, this is the price we pay for greatness, Sirs. If you want 200% gains by March, you need a really big dick and you really need to do things that others aren’t willing to do. That said, the down days are perhaps a bit grim and dark. But it’s important to associate zero sentiment with positions. If you’re in XYZ and it trends lower — fuck it and sell it.

More on this later.

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Long story short, I performed great acts of miracles today inside Exodus — up a staggering 10% via 5% positions in a slew of NFT related cryptos stocks. The whole thing is comical — but I am HOLDING FIRM into the night and hopefully will sell them at 4am 100% higher.

I closed out 10 trades for double digits gains, ranging from +10% to +20%. In my YOLO, I have gains of 60% in OCG. I stand before you, on this holy day of beer, a very successful man with a stout brokerage account.

I now depart you for bottles of beer and whiskey, an array of bland foods, all boiled for me since morning. I wish you all the best; but just know that you’ll never be as good as The Fly.

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It took all but a few hours for Mother Market to lure me back into shit stocks, thanks in large part to my keen interest in NFTs. See, unlike you, I built a watch list of NFT related stocks a few days ago and was ready and waiting for them to pop off.

BAM — they fucking exploded to the upside.

I made a shit-fuck of money, +20% here, +50% there, in names from OCG to LEAF to ZKIN. Lots of Chinese names with an acute interest in becoming DIGITAL ART vendors, selling their wares on the COCKCHAIN.

I am here for the glory, cover my shorts at +2% and went into the deep and then went deeper, into the shit, presently +450bps for the session.

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Bubble Stocks Ripped to Shreds Again; Flight to Safety

Commodity related stocks, and chems, have caught a bid today, while Bubble Stocks get their fucking brains smashed in. I am still going with the 2014 narrative when Bubble stocks got cut in half, all the while everything else went on, business as usual. That’s the funniest thing about investing, no one gives a shit about your losses.

Listen to me.

You were positioned wrong. Take your losses like a fucking man and move on. If you would not buy the stocks in your portfolio right now, sell them. Your losses mean nothing to the market and your cost basis importance is the least important thing in the world, you dumb child.

I got lucky, rolled into today 3x short via TZA and that’s it — all cash. Since then, I delved into some commodity related names, higher quality cloth, in an effort to press my rights upon this market. However, I cannot see myself delving, mind you, back into Bubble stocks today. Yesterday was an utter nightmare for me and it haunted me the entire day. To think, I am up 175% for the year, yet felt no happiness about it at all, only the gloom persisted from yesterday’s 4% mauling.

The cause for all of this discord is the 10yr, now yielding 1.66%. Yields are rising everywhere, due to inflation. Ergo, inflation sensitive stocks seeeeeeem smart now. But who knows? Truthfully, I could be back to buying SHITSTOCKS today, given the right move here.

As an aside, my current favorite SHITCOIN, MANA, was blessed by Grayscale today, who said they would create a trust for the crypto currency. Very massive news for the burgeoning virtual world.

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I was busy throughout the session and entirely unable to make any money. I closed at SESSION LOWS, off by 4%. This situation caused me to PANIC SELL and go short. So, I stand before you 85% cash, 15% retard, long TZA. As sure as I am sitting here tomorrow, markets will flay me alive for these sins.

I had traded well today, but the bulk of my downward spiraling positions was too great to manifest any real comeback. In hindsight, I should’ve sold everything early and traded 3 positions at a time afterwards for scalps.

Big picture, I am down less than 1% for the week, so it’s not really DISASTER, although it certainly feels like it because I now enter another trading day feeling, shall I say, exposed.

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High Beta Stocks HAMMERED, Hidden Under Green Indices

Insidious. This is precisely what happened to me in 2014, hammered to dust in SAAS stocks while the NASDAQ printed green candles. I wanted to commit arson. Markets are up, but the high beta trading names are hammered into dust. The fades are real and if history is of any use at all, this will be an unrelenting torment for people holding long term.

Pre-market I was enjoying the tape, up a genteel 35bps. But it didn’t feel right with the NASDAQ futs +75 and I quickly learned what that was all about — presently in the sewers off by 330bps. I chased the rats at the open and now find myself underground with a flashlight running low on batteries. Perhaps the Gods will save me and offer me a sign. Or, perhaps I am due for a sharp comeuppance. Either way, I am in it now, 85% long fucked stocks.

In my other accounts, I am enjoying gentlemanly gains of 90bps, in line, or perhaps more, than the general indices.

What I will have to do, sometime today, is cleave the names that are causing me grief and cash up. Once in the hole like this, anymore more than 3%, one flirts with presiding over a disastrous day if trading in and out, attempting to market time. I’ve found it’s best to stem the losses and try the next day, otherwise, mentally, you’ll be fucked the whole day and night and begin to think emotionally, instead of the preferred coldness that is the disposition for all truly great traders.

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Now Watch the NFT Craze Spill into the Market

All of the hype surrounding NFTs is already being captured by the scammers who run around with their bottle hoping to get some lightening. Today ZKIN, OCG and TKAT were the hype. Tomorrow — who knows? I went long ZKIN, only because I know how people think. This is a new craze, so they will gun these fucking stocks to the moon. On a operate note, I am back into MANA, after selling it for a 150% win — as part of my NFT token extravaganza.

Needless to say, you will find most of these names coming out from China, or very small capped stocks in the states. Nothing to say, other than “get long” and prepare for another leg up.

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Stocks Strong; Cryptos BTFO — COVID Vaccine Toxic?

France, Italy and Ireland have paused their AZN vaccine due to a RARE BRAIN BLOOD CLOT thing that seems to be fucking people without explanation. They say it’s extremely rare and most people won’t have anything to fear. ‘Tis the point of vaccines. Some of you, sadly, will perish in the fires — most will live on and get to enjoy this brave new world for decades more. My interest in the vaccine is exactly zero. It could’ve went either way, since I couldn’t give two fucks if the thing kills me or not. I don’t know why so many of you are keen on living so long.

I’m just not into the whole “do it for the grander society” aspect, save a 90 year old. Fuck the 90 years olds and also fuck the fat fucks who keep stuffing their faces with cheesed burgers. You actually deserve death, so don’t come here with your treble chins, telling me to inject nonsense into my bloodstream. I am not a vaxxer. Let’s be clear about that. I just don’t give a fuck.

Moving on, cryptos have collapsed. All of the CoinFAGS were elated at $62k, counting their money, and now they’re not. Totally fucked. At the same time stocks are jimmying higher. There is not a discernible explanation other than more buyers than sellers. I have done dick since the open — still up by 250bps, effectively spinning my wheels in the process.

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I’ve been trading since 4am. I am experimenting with my fills and if it’s really worth it. I can say without a question that it is and it’s only a matter of time before all online firms offer it. I’m up 300bps to start the day and nothing can stop me.

I’d be up a lot more, however, if I hadn’t sold SOS at 4am while up just 7%. Alas, we sacrifice one thing for the next convenience.

Markets as a whole aren’t great, but we are getting decent momentum in all the usual momo stocks. I like lithium, crypto derivatives, and maybe silver. Biotech hand grenades are always on the list and I might delve in one or two alt energy or EV stocks before the day is through.

As long as the 10yr trends lower, we should be ok.

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