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
20,688 Blog Posts

Avoiding the Chop — EXODUS CHAT IS DOWN, Due to Mystery

Innumerable stocks I owned yesterday are roaring higher today, as I am left with my dick in my hand and some TZA. Markets are gently lower, which means they will soon rise up and flame broil shorts. I do not think I will make a single trade today — plus StockLabs and Exodus are down today — and my IT is AWOL — no idea where he is in Germany now. Perhaps he’s eating some schnitzel and having a large frothy beer? I’d like to believe that. Why slave over a computer when you could be eating something greasy and getting drunk?

Parts of Exodus appears to be open, except the chat room where all of you trouble makers plot and scheme to bring down elections. Maybe it’s a good thing for you too. Get out there and smell the autumn skies and enjoy this Friday as a gift.

I, on the other hand, will keep busy — presently listening to Bach… was listening to Beethoven earlier.

My morning routine is somewhat unremarkable — coffee, croissant, maybe a phone call or two, and then classical music. I find voices to annoy me in the morning and there’s a reason why Bach and the greats are still listened to for centuries.

My hopes and dreams entail me resuming my trading greatness. Yesterday’s debacle kept me in bad spirits all day long into the night. Markets, as I can see, are already whipsawing around. This is caused by sell stops and HFTs fucking retail with their digital dick chopping guillotines. Truthfully, it’s best to avoid this chop and I only say that because I failed yesterday. Had I not failed, I’d be THE CHOP MASTER today, telling the world about my greatness.

The Dow is -55, NADAQ +15. No fucking idea where we head next.

I’ll get Pelican room back up as soon as Ze Germans materialize.

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WORST TRADING DAY IN YEARS

Hard to explain what exactly transpired today. It started with missing out on a runner, SUNW went from 0.85 to $9 and I missed it by minutes yesterday. Today it gapped higher and a cadre of like minded alt energy stocks took off with it. What I thought I was seeing was the beginning of a trend, when in fact it was topping out. The malevolent nature of today’s chop-fest had a profound effect on the way I was thinking. I could feel the pressure in my stomach and head elevate, almost to the point of desperation. If you’ve ever had a truly large position go wayward on you, you know what I mean.

But it wasn’t just one position, although I did have a double down debacle of -17%. In total, I executed 67 trades and while I started to make some back mid-day, I ended up on the wrong end of the chop and acquiesced all of my positions for the sake of my own sanity. I had lost the confidence to take risk, after a foray of losses, so I opted out. In total, I lost 5.3% for the session — which is dreadful and my worst showing in many years for a single day. Month to date, I am still up 7%; but I imagine there is a much more profound thing to consider when looking at a loss of 5.3% for the day — such as people who followed me into these burning homes. I know for a fact, most people do not take positions sizes like me, of only 5%. I also fear their losses are considerably higher — if they mirrored me to the T — for that I am sorry.

Just yesterday, I boasted about being up 12 consecutive days, in a seamless end of wanton hedonism — the whir that made it all the more worthwhile is when gains were enjoyed at will. Such an occurrence is rare and indeed destined to revert back to the mean. Today I was ugly, a truly odious monster who ate himself for the sake of greed and avarice. I will not drink today because I do not like to drink when I am feeling bad. Instead, I head to the gym, lift until my fucking arms fall off, and then get an early start tomorrow.

If today’s tape tells me anything, it reeks of fragility — the manner of which the indices moved today and the stocks that led to the upside are possible signs of topping out. Then again, what the fuck do I know? Mr. -5.3% for the day.

 

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HORRIBLE TRADING UNDERWAY

I had stepped into today cocksure and strong, feeling the vibe of downward spiraling markets. I had inverse ETFs and the NASDAQ was down 100. But then markets began to turn higher and all of the alternative energy stocks, led by SUNW, started to triple in value. Quickly, like a fucking moron, I followed suit. The next sequence of events can only be learned from a complete moron, so play close attention.

I ran some screens and chased whatever moved. If It was energy related, alternative energy, I gobbled it up. If it was up 50% on strong volume, I deemed it to be a good value. Almost immediately I was rewarded with gains, as the TIKTOK/Robinhood cadre of investor chased with me. I was one of the kids now. I wasn’t too nuts, still 60% cash, but beta was off the charts.

But then markets started to tank and I got left with bags of shit burning at my door. I started to stomp them out, but it was too late. The damage is ongoing, as I have several of these burning bags of shit still burning at my door. My intra day losses are now in excess of 3% and it would’ve been worse had it not been for position sizing of 5%.

There is a lesson tucked in here somewhere. However, for the moment, you can chalk it up to abject stupidity fueled by FOMO.

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MARKETS WILL CRASH

At some point, you have to ask yourselves “what the fuck am I doing?” Nothing is in your favour, Sir. This is bullshit, personified. Having said that, the circle jerk continues. Markets flagged lower today by 330 NASDAQS and all of the absolute faggots are offering opinions on the tele today.

This is what I know to be true. We are embarking on a strong likelihood of RENEWED LOCKDOWNS. Hard hit industries, like commercial RE and consumer facing businesses, have endured 50-95% drawdowns in revenues. This is not a tailwind to get behind — because once that wind arrives at its destination — you will be tossed strongly into quickly moving helicopter blades.

I fucked up, gigantically, today.  I had SUNW and sold for a 4% loss and then it immediately jumped 250%. I wanted to kill myself. I ended selling EVERYTHING, booking losses of 3% for the session, and then I loaded up on shorts. I am down 0.34% for the week, closed the session at 70% cash, 100% eager to see this fucker burn to the ground.

Added bonus: BREONA TAYLOR INSPIRED BLM RIOTS TONIGHT. Also, I won round 1 of the FINTWIT elections, amongst rampant voting irregularities. Be sure to dispatch Uncle Rico with the same verve you cast away CORDOVA.

 

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Great Tragic Tragedies Strikes Traders Down

It wasn’t supposed to be this way. Stonks, as they’re popular known amongst the idiot class of investor, are supposed to only go up. Lo and behold, the NASDAQ is now knifing lower — off by more than 200. Miserably, I only have 1 hedge, and I closed out my SQQQ when the NASDAQ was down 150. I too bought into the fervor, pretended that nothing was wrong and how wonderful stocks were, all because the Federal Reserve sucked its dick.

I am more than happy, in fact elated, to donate some of my 300% YTD gains in exchange for pain and misery amongst the TikTok investment class. To this end, I am 30% cash, triggered lower amidst a flurry of panic sales, eagerly awaiting the next leg to drop.

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STOCKS NOT DOING MUCH, BUT THE FLY WINS AGAIN

Let me explain something to you pal. There is a common thread in the long rich history of this site. You’ve bore witness to all of my ups and downs, MASSIVE CATACLYSMS and the like. But, as always, Le Fly finds a way to win — especially when he seems to be failing badly.

Last night during the overnight session, whilst you fat American bastards slept over pounds of chopped meat, my European fan base awoken to blackened coffee and croissants and VOTED FOR LE FLY in the all important FINTWIT MADNESS poll. I had been down 300 votes and now that is gone — no thanks to any of you American reprobates.

While Cordova is certainly a worthy enemy, it was never something to be concerned with and I am delighted to see her simp fanbase on suicide watch, voicing distress on Twitter with comments like below.

And for the record, Le Fly isn’t ‘ugly’ per se. I am in fact quite odious, in a gentlemanly sort of way — both malevolent and detestable, but a gentleman nonetheless. At any rate, I look forward to the next round of this ALL IMPORTANT FINTWIT contest, where I expect to douse “Uncle Rico” with some tequila and light him aflame.

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Grimly Painted Rally, Le Fly Barely Won

An interesting melt up marked by my own over-enthusiasm. Part of my underperformance, up just 0.25%, is due to overtrading. I bought and sold FROG and then it sprang for another 10%. In the morning I blew out of my losers and traded back to breakeven, erasing a 1.6% loss — but did little more afterwards. It was a lot of churning, but not much burning.

I closed the session 100% allocated. Fuck you and fuck my trades. I am tired of posting them. What difference does it make? Does me posting my trades help you? No. Does it encourage you to trade better? No. You are going to do whatever the fuck you do and that is most likely on par with losing VAST SUMS of money. I will tell you this now for your own good: quit trading. No one is going to teach you anything. Fuck those faggots. The best way to make money in this market is by copying SPACE ALIEN MAGICIANS (SAM) — sitting obediently inside Exodus and waiting for fresh fish.

More or less, I am trading in and out of complete fucking shit. My Quant, which is STACKED with “the best stocks”, moved higher by 1.7% today — but it’s down 5.8% for the month, whereas my self directed is +13%. Should I, dare I say, sell out of the Quant and do it all myself? Perhaps. But the whole fucking point of the Quant is to market perform on days like today — asshole +0.25% trading gains boosted by quantitative greatness.

Bottom line: go fuck yourself. Also, I am getting space stomped by a female trader on Twitter, with a vote count off the charts in comparison to the other faggots partaking. What is this poll? That is a poll of assholes, attempting to feeeeeel important. But seriously, I hate all of you and hope you lose all of your money tomorrow.

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MASSIVE GORILLA RALLY UNDERWAY

I extricated myself out from the hole I was in earlier, erasing a 1.6% deficit and now stand before you COCK-SURE, +0.2%. It isn’t much, but it marks my 10th consecutive day of gains.

The NASDAQ is +120 and this is easy. Get in and get out. Grab 2-4% for your troubles. It costs you nothing.

UPDATE: PLEASE RIG THIS POLL FOR ME, or else! Vote Fly multiple times.

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Needing to Climb Out From a Hole

I was out all morning, doing things completely unimportant. Sacrilegiously, I neglected to even look at my positions and as a result of said neglect, I found myself in a 1.6% hole when I got back.

Understand something, the vast majority of my trading stocks are piece of shit worthless pieces of paper — flimsy companies rising and falling based off the caprices of the moron trader. It is my job, as a superior intellect, to front-run those morons and subtract money from their accounts and place it into my own.

Since then I sold the biggest winners and losers — kept the stuff in the middle, and now I am attempting to trade back to green.

The high and low lights.

CVNA +32%
WPRT -24%
KCAC +6.1%
CRDF -11.3%

My opinion of the market is mostly immaterial. We’re neither here or there. Your job, if trading, is to capture moments. There are industries on the move higher today, such as online gambling stocks and degenerate pot. SAAS has been stable and I imagine many of the COVID-19 LOCKDOWN stocks, like ZM, and DOCU, will be fine. We are barreling towards another lockdown — but this time the markets will not be okay. We will cross that road when we get there. For now enjoy the market’s resilience and be sure to take advantage of its many whorish attributes, while you can.

At the time this post ended, I was down 1.1%

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ABSURD SEQUENCE OF EVENTS — NASDAQ CLOSES NEXT TO UNCH

There’s no bargaining with this sort of fervor. The Dow closed down more than 500, but the fag-heavy NASDAQ was only down 14, reversing what seemed like an endless pit of grease and fat — down 200 at the lows.

Midday, at the very lows, I felt like liquidating so I instead bought a fuckload of inverse ETFs, in order to “hedge my longs.” The result was instant loss. I ended up closing those trades for a 100bps loss. Other than that, I went on a 12 for 12 winning streak trading intraday and did a whole lot of shuffling back and forth for what is now a paltry 1.15%. I had been up 1.6%, but was raped by those “hedges.”

On my Quant side, I was up an astounding 3.4%.

What is the net result MTD?

Up 12.2% in my trading, down 7.4% in Quant.

I am, without question, better than the machines.

I closed the session 15% cash, all longs.

All my trades:

(LIVX -8.5%)
(JNUG -7.9%)
(APRN -4.9%)
(CLNE -3.7%)
(VERI -3.6%)
(PLUG -3.3%)
PIC +14.45%
ZM +8.6%
XERS +8.4%
PTON +8.3%
NLS +4.1%
OSTK +3.54%
SPOT +0.2%
STMP +1.4%
(BLDP -3.5%)
ACRX +14.75%
DOCU +3.16%
NLS +1.6%
SFIX +1.4%
QDEL +1.3%
AXGT +3.1%
PEIX +4.3%
ACI +2.25%
FSLY +2.1%
PD +2.9%
HOLX +1.2%
MVIS +4.1%
(SQQQ -4.4%) x3
(FAZ -2.7%) x2
(LABD -0.7%)

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