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
20,626 Blog Posts

Stupid Because I’m Wrong; Wrong Because I’m Stupid

There’s no escaping the folly I’ve just placed myself into, a man who swore to try the bear raids every single time — because fuck Tesla and fuck all of the overvalued tera cap crap. Instead, like a dog, I bought into the dips and REDOUBLED my efforts this morning. The net result has been ruinous. I am diving lower now and the only way to stop it is to liquidate and start again.

I had been up 5% earlier this week and now I am down 2.5% for the week. While this drawdown isn’t exactly life changing, it adds to the recent slump I had been in since the market rally narrowed and was relegated to 10 stocks in the NASDAQ 100.

My hope is for a miraculous rally — but this is more folly and more weakness. The truth is, as you readily know, stocks are GROTESQUELY overvalued, bought lock stock and barrel by presumptive idiots who gamble at the desk and believe this entire rigged business is a game.

It is a game until things go wrong, and then panic hits, which comes with pain, eventually despair and finally acceptance. This is all rooted in hubris, the belief in everlasting greatness. But everything fades and we all peak at some point, markets are no different.

What I am supposed to do is accept being wrong and understand that my cost for XYZ is irrelevant. The larger picture is simple. There are varying degrees of risk that are acceptable, based upon one’s financial outlook and current situation. Because I’ve had such a great year, I’d permitted sloth to replace intelligent thinking. I even re-started by Quant fund at the very top, not because I capitulated to FOMO — but because I wanted to participate without having to manage such a large sum of personal worth.

My mistakes are for all to see and critique and that’s part of this financial blogging experiment. Today you will think I am stupid — because my actions suggest it. By next week, I will once again be a genius — because I nailed a trade or two. Thus the recency bias of this business — a “what have you done for me lately” relationship has and always will exist in money management.

For me, I can only remind myself to “do better” and “think better” because mistakes cost money and money costs time and time is invaluable.

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MARKETS CRASH THRU LAST WEEK’S LEVELS; PANIC ENSUES

I mock the stock Gods because there is nothing they can do to stop the Fed and the upward surge of stocks. The idea, mind you, that people can lose money in stocks is laughable. In the olden days, I’d sell this tape and go short, eagerly awaiting capitulation. However, from my vantage point, today was an excellent time to sell the trash in exchange for quality.

That’s exactly what I did, as well as get long some 3X ETFs.

Today’s drubbing, off by 4.5%, wiped out my gains for this week only. I am fortunate in that regard and will keep focused on making it all back, and much more, in the coming days.

Yesterday’s retarded tweet by Trump might’ve irritated the level pullers and today’s decline is merely ironic. But let’s not forget, shit went up with GDP tracking at -50%.

Relax, eat a sandwich and fuck off.

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HUBRIS COMES BACK TO BITE TRADERS IN THE COCK

This is a well deserved beating. I hope each and every TikTok investor gets wiped out. Getting wiped out, or “zeroed”, builds character and makes you hate the world. Later on, you can use that hatred to power your path towards greatness. But first, you must be destroyed.

Seeing that I bought back into the Quant hours from the top, I’ve concluded that I am, in fact, the main character in the simulation. There is no other logical explanation for this occurrence, both selling the bottom and buying the top in an otherwise chaotic mess of randomness. I did have to take losses today; and for that I am saddened.

Truth is, I realized I was wrong the second the market opened. I had two choices — suck the markets dick and wait around for something cool to happen, or become the man I was destined to become and take losses like a fucking man.

Needless to say, I chose the latter.

SABR +10.1%
LCA +6.7%
RVLV +2.6%
(SE -9.7%)
(ZI -4.9%)
(DDOG -6.3%)
(AAOI -7.3%)
(SPT -8.8%)
(VNET -8.6%)
(AMBA -9.8%)

Cash is 55% in my trading. I am still moronically 100% long in my Quant, which is 50% of my assets. That is a BUY n HOLD for 1 month. So, I will watch it melt down into the fucking ground — mocking me with its heinous losses.

SAAS is -6.5% now. It’s easy to believe anything now — further weakness or upside reversal. I will, however, bide my time and try out a few things before making a determination.

If you want a good laugh.

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LET ME EXPLAIN SOMETHING TO YOU

There are two types of people in this world — those who make money and those who do not. The ones who do not end up on the ass-end of a tear gas canister, the ones who do travel in luxury and often frequent resorts and belong to country clubs.

So you know, Le Fly has never tasted the scent of a tear gas canister — because he is a man of distinguished qualities. You bore witness to the markets up 467 today, as breadth steadied all day to close at 64%. Everything of substance went higher, with a few high momentum names taking a break. In the morning, I was down — but then I went to work and traded like a long dicked stallion and came out up more than 200BPS.

See pal, that’s who I am and you’re nothing.

Good father?

Fuck you…go play with your kids.

These were today’s closed trades.

(RIOT -9.1%)
(APPS -7.7%)
FEAC +6.3%
SPAQ +5.6%
TRNE +7.1%
(BYND -2.9%)
PLNT +0.4%
UONE +15.4%
OPESW +14.1%

I ended up 100% long, creatine coming out from my ears — zero fucks or reservations — indeud.

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Rotation into Value and Also SPACs

Just when you thought markets were assembling to rotate into value, seeing TSLA down 8% and KO +4%, a wide pastiche of fucking SPACs broke loose.

Admittedly, I am fully long these SPACs, positioning for more degeneracy.

My booked trades so far.

(RIOT -9.1%)
(APPS -7.7%)
FEAC +6.3%
SPAQ +5.6%
TRNE +7.1%

Many of my other positions are LOWER due to rotation — but I’ve been making some of the losses back with well timed day trades. See pal, this is the difference between you, and a person — such as myself. I went into today with cash and will leave with cash — always prepared for eventualities. Markets offered me lemons, so I made lemonade. That’s what winners do. That’s what The Fly does.

Before I talk too much shit, I must remind myself I have a mind numbing amount of exposure to all of the highest valued stocks in existence — the worst values to ever hit markets since the Carthage Exchange peaked.

I’m also short oil, so there’s always that to fall back on.

Breadth is a tepid 53% and morons are buying KO. I do not believe we are ready to roll over just yet. Perhaps I will be proved wrong and lashed across the face with a leather strap. Or, perhaps none of that shit will happen and I will sell my SPACs for handsome profit.

Either way, it’s never a dull day.

NOTE: Trades are not given to PLEBS here anymore, for they are reserved for the gentlemen inside Exodus only. EXCLUSIVE ACCESS!!

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HARSH REVERSALS ABOUND — WHAT COMES NEXT?

Listen to me. I will tell you what comes next. The god damned entire market is seconds from melting higher again. We’re stuck betwixt the perversion of men and the greed of women. Everything about the market is CLOWN world. For example, the market cap of TSLA is more than ALL of the auto makers in the world combined. When faced with these sort of realities, one cannot operate with normal decision making abilities. One must think completely outside the box and wonder what will happen next?

My winning streak ended at 10 for 10 this morning, forced to take two losses — one due to the overnight collapse in cryptos. I was long RIOT. The thing about cryptos is that you don’t have to worry about them, unlike stocks. With stocks, you can be raped at anytime. No one is safe and don’t you dare go to lunch when holding a portfolio of SPACs.

Life is grande, until it isn’t. My stated goal is to eventually destroy all of the millennial shit-head investors out there and fix them with large capital losses. But that comes later. For now, I am buying and selling things like an arab merchant at a bazaar.

Plenty of stocks gapped up and are lower by 4% now. Do not worry. Wait for the clowns to bid them up soon.

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A NEW WINNING STREAK ARISES

Bullshit breadth again of only 55%, means many did nothing but hold their dicks in hand today. However, I found my stride and kicked off the Quant again — making 0.5% there and another 4% in my trading account — smashing people in the face for sport.

I have also embarked on a new winning streak — 10 for last 10.

ZEN +10.3%
GOGO +20%
CRWD +4.1%
OSTK +3%
FOSL +1.8%
CLSK +6.7%
MARA +7.8%
WKHS +11.5%
NLS +8.2%
ZUO +4.8%

I have a lot more where that came from.

I bought a bunch of SHIT into the close — 15% cash, 100% man.

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MARKETS PRICE IN MOAR

I shuffled lots of stuff around today — booking MASSIVE gains. I am edge lording to 4% overall gains today, whilst being 30% cash. Let me tell you who I am pal. I am the type of person that fucks this market until it’s dead and then I move on. There are ZERO people on this entire planet who trade better than me when hot. If you attempt to challenge me, you will only accomplish humiliating yourselves.

You are probably here hoping to GLEAN some information to become better. Sorry, the ship has fucking sailed for that pal a long time ago. I’m not in the business of selling fish pole instruction, friendo. I feed people fish. Any questions?

Good.

Markets are beginning to price in MASSIVE RIOTS. Expect to see LA burn tonight, all of this very bullish and good indeed. What you’re seeing, actually, isn’t Americans rioting, but all Russian trolls, which is why Twitter is banning all of them.

Ah, the latter day excesses of Empire America. This bitch of a whore will do anything to hold onto power; but the time for unity is over and the time for dick chopping mechanisms fast approaches. Look at SWBI today. So many Nazis with so many guns cannot bode well for commie pig-fuckers. I am not too belligerent. Do not worry. Le Fly is much more interested in profiting off the chaos than leading it.

OFF TO EAT LUNCH

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THE EXODUS QUANT IS BACK!

Like a pussy, I cleared out the Quant account at the lows in March. I LOCKED IN a 20% drawdown and allocated the money towards my discretionary account. Without question, I crushed and poleaxed every single investment method known to the universe since then, so I made the right decision. But spiritually, I capitulated and that’s not a very brave thing to do. In my defense, it was unprecedented and I legitimately believed markets would close down for good and the economy would spiral into a depression we could not walk back from.

I was wrong. The Fed circle jerked so fast it got all of the millennial faggots on board and ushered in a new era of retail excellence.

A massive bubble is happening now and I don’t have the notion to believe we are topping yet. I see no warning signs. Therefore, I re-allocated into the Quant with 50% of my assets.

What entails the Quant: the first ever ranking system created by Stocklabs, using growth factors and our Advanced Algorithm, which is new and produces picks for longer term durations. The net result is I own all of the very best stocks.

Trading wise, I am unequivocally back and punching people directly in their weak faces again — breaking jaws like they were stale pretzels.

Today’s trades:

SAVE -6.6%
OUT -2.6%
ZEN +10.3%
GOGO +20%
CRWD +4.1%
OSTK +3%
FOSL +1.8%
CLSK +6.7%

Ultimately we all die. But before that happens, I endeavor to make as much money as humanly possible for reasons I am not entirely sure of just yet.

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MADNESS

The Dow knifed lower — but thanks to the stock splits at TSLA and AAPL, the Nasdaq managed to eek out 70 points. My fortunes appear to be turning up and I am glad for it — because I am an extremely streaky trader — going long bouts of the ups and sometimes down. The past month shaved about 10% off my gains of 300% FUCKING PERCENT. Needless to say, I am not disturbed.

Next up, 30 for 30 winning streak, as Le Fly sashays thru the market place fully erect and fully bull’d the fuck up. I am, however, SHORT PENN — because I think Portnoy has COVID 19 and could die. All of this COVID business has us all on edge. Any one of us can die at any time.

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