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
20,415 Blog Posts

As the Final Hour of Trade Nears, There is Only One Thing to Do Now

Listen to me, stocks will go down after they’ve exhausted the upside and enough people get rigged into fucked positions. You look at me and must wonder ‘how the fuck does he buy those stocks — they suck?” Look here bucko, I have 50%+ cash most of the time and each position is more or less 5% of my holdings. I can afford blowups. My gains YTD are off the fucking charts. I don’t mean to brag, but I’ve been trading superb for about 5 months straight, nothing ordinary about it at all.

I used to wait a week for a 10% winner, now it’s all in a days work.

 

The Russell is still down 13.5% for the year. That’s a big amount and could equate to further upside for a number of stocks. As much as we HATE this rally and what it stands for, disconnect yourselves from the reality of the situation and treat it no differently from a night in Vegas.

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The Show Continues

I kicked out RNWK this morning for an overnight +31% profit. I know — boring that I come here to talk shit. Deal with it. I also sold RIOT for +5.4% — upping cash to about 70%. Markets only go up now, which makes me reticent of intra day RAPES. It’s best to hold off on the 10am purchases for a bit in order to see if this market wants to sell off first.

I am now 25 for my last 28. Full disclosure.

EB +7%
SOXS +1.5% x3
VTIQ +9.2%
MARK +5.5%
RVLV +7.6%
ZFGN +24.4%
ZIOP +4.1%
SONO +1.8%
HTBX +9.7%
ORGS +3.6%
LK +16.1%
SPCE +6.1%
(FAZ -9.4%) x2
X +4.5%
GNC +12%
MARK +17.6%

SIG +9.1%
NYMT +2.8%
RUBI +2%
FRSX +9%
AMC +6.4%
BZUN -wash
(TLRY -11.4%)
RNWK +31%
RIOT +5.4%

How’d I do it? Pffff — fucking magic that’s how. All it took was some balls, sane position sizing to spread out my bets, and a good sense when to sell. I cannot teach you these things — once again. Just sit back and enjoy the clown-show.

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STOP SHORTING STOCKS YOU FUCKING MORONS

Didn’t I warn you before? You are not smarter than everyone else. You cannot time the top. Quit trying to be a hero by making outrageous trades and fall in line. The problem with most people is generational poverty, coupled with aspirational thinking. You all want MOAR, fame, success, WHORES — drugs etc. You do not want to work hard, but smart. You think you’re smart because you’ve achieved a modicum of success and now you think you can parlay that ‘it factor” into trading — because the world is your oyster and your eyes do not deceive you.

WRONG.

The answer to your ideas is always WRONG.

No more ideas. No more schemes. Away with your biases. FALL IN LINE and shut the fuck up.

I closed out the session 65% cash, 35% wanton degeneracy.

I am 23 for my last 26, with 6 positions on the books now — positioned for further profit. I have achieved these results, not because I am better or smarter, but because I am compliant and I’ve adapted to the market — humbled myself into neutrality, and traded with the winds.

Market was up 550, Nasdaq more than 70, erasing a 190 point deficit.

SORKIN FINALLY SNAPPED AGAINST KERNEN

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BEHOLD: Another Grande Winning Streak Approaches

Shut the fuck up.

Here were my fish from yesterday.

X +4.5%
GNC +12%
MARK +17.6%
SIG +9.1%
NYMT +2.8%
RUBI +2%
FRSX +9%
AMC +6.4%
BZUN -wash

All of those fish on top of the previous days fish place me 23 for my last 25, my only loss being FAZ x2. Stock picking game is on point and of course 100% fire. You can go into the kitchen yourself and try to whip up something to eat. Or, you can sit down and eat the fish you are served. The choice is yours.

Market reversal looks nasty, both tech and oil in the dumps — black candles everywhere. I am 90% cash.

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Not Fearful of Buying Into COLLAPSE

I am closing out my day 45% cash, the rest long a sundry of low brow momentum stocks. This portfolio I’ve concocted deserves to the whipped across the gibbet. But I am not afraid. Nothing can stop me and my gains are ordained by God himself. There is nothing in the way of MOAR and greatness is something all of us can claim title to and enjoy the fruits of no labor.

The market is showing some weakness in tech late day — BUT FEAR NOT — because everything else is fine. If you are selling short here, you are all but guaranteed to be made into a fool. Everything you learned in school and at your firm is meaningless now. Present market conditions only value the power of MOAR. Do you understand what I am saying to you?

The summer climes are here again and gentry of the south do not wear masks and cough on one another because only God can grant COVID-19 to people, not blue state FAGLORDS. Plus anyway, we all know CORONAHOAX and how all of the sick died from other ailments. They are all crisis actors, paid by GEORGE SOROS, who is merely creating GLOBAL DEPRESSION just to elect Joe Biden.

I wish I had more insightful things to say, other than “just rest easy and sloppily and buy shit stocks” but that’s exactly what I prescribe you do now.

Cheerio.

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Thank You Mr. Trump For This Great Big Beautiful Stock Market

It looked a little dire a few weeks back. But then Trump got our his whip and slashed Powell across the back with it and made him reduce rates and buy it all. Heck, they even own Hertz bonds now in bankruptcy. This is the new normal people — nonstop incessant feverish melt ups in between periods of rest designed to lure in FOOLS back into the fold for expeditious annihilation.

You can point your crooked fingers at a lot of things done wrong by Trump. He’s mainly crazy, but for the market — crazy is in fact good. I have no doubt in my mind his megalomanic personality has gifted us 10,000 Dow points. By summer of 2016, we were BARRELING lower without seatbelts. Now look at us, fully erect and ready to blow thru record highs amidst 40% unemployment.

For the balance of my day, I intend to unwind my hedge and get long some real degenerate shit for an overnight ripper.

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I’ve Been Trading Shit Stocks For Some Time Now

I am 13 for my last 13. Although reticent and extremely careful not to be wholly in, I’ve been trading piece of shit stocks for some time now. I’ve established quite the comfort zone in the stocks of ill repute, the underbelly of capitalism. They are neither here or there. They aren’t real or fake — just emotion running wild.

EB +7%
SOXS +1.5% x3
VTIQ +9.2%
MARK +5.5%
RVLV +7.6%
ZFGN +24.4%
ZIOP +4.1%
SONO +1.8%
HTBX +9.7%
ORGS +3.6%
LK +16.1%

The last one I just took 15 mins ago in Exodus and kicked it out for a spectacular gain. Don’t envy me just yet. As I write this I am getting ready to visit the fucking BENZ dealership for another $3k fix and my fridge and dishwasher broke last week, as I am cursed in all manners except stocks. This is the way the Gods tease me. I am nothing but a blunt instrument for finance, and perhaps blogging. Other than that, I lost my hair when I was in my early 30s.

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Dow Futs Explode Higher; America is Open Again

The cliches are so absurd they do not deserve repeating. Nonetheless, Dow futs are up 280, NASDAQ +120 and there is nothing we can do about it, as they market is closed to observe my birthday.

My gift to you of you tomorrow will be a half dozen slimy fish served in a newspaper, first thing tomorrow. I hope you enjoy seafood for breakfast.

ciao.

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Hang Seng Crashes Again Amidst Chinese-American Row Over Hong Kong

Quick rundown.

China is trying to pass new laws in HK that all but eliminates the country. People in Hong Kong are going APE SHIT and protests are resuming. Trump is equally perturbed, threatening sanctions on China should they go ahead with the new laws. Taiwan, another ARCHED ENEMY of China, just said they would provide the people of HK with assistance, if needed.

This of course is an issue of national sovereignty and the right of the people of Hong Kong to rule themselves. Will they muster up the STEEL to rule themselves and defeat their Chinese overlords — or will America intervene and get fucked in another Asian theatre?

One thing is for certain, the Hang Seng does not like it one damn bit — presently down 1.5% and sinking.

US futs don’t give a shit, presently +18.

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You Just Bore Witness to the Largest Short Squeeze of All Time

None of it made sense, which is why it happened so viciously. The global economy stopped dead in its tracks, due to a deadly contagion, and stocks rallied because of it. Barely anyone can tell you with a straight face things are going back to the way they used to be — but it doesn’t seem to matter — at least not yet.

Word of advice, look for distribution days. The good olde boys club won again and will now reopen the economy and take refuge at their summer homes, while the plebs seek adventure on cruise ships and “amusement parks”, public pools, get sick and drop dead. A second wave is already happening in areas of the country filled with flu-bros and hydroxyFAGS, including my state of NC.

While I do believe we will trade higher on Tuesday, I also believe, rather fervently, we will RETEST THE LOWS and much much more. Time has been short and the violence of the counter-intuitive nature of the rally will dissipate. In its place, by fall, will be apathy — global depression, and indifference. Once the violence ends, so will the rally.

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