SHORT SQUEEZE BONANZA

I write to you from the confines of Fredericksburg, the last true bastion of Confederate glory. I was driving all day so I was unable to partake in many of the shorted squeezes. It all started with BBBY and then it spread of FUBO and also REAL, which I was able to snag and still hold.

The common denominator in all of these squeezes is they are consumer facing piece of shits. I have no idea if this means this is the end of the recent rally. As a point in fact, the more bearish I feel the better the market begins to look.

We’ll take it day by day and reserve predictions for morons. In the meantime, let’s enjoy the market in front of us and extract as much as we can while it’s offering us volatility.

I was up 75bps for the session.

It’s no surprise to anyone who has read this blog for any decent amount of time that whenever I decide to leave the confines of my home — markets collapse. I was prepared for this eventuality and in spite of the NASDAQ -100 and risk on stocks off by 3% today, I’m up 16bps. Even so, the Gods attempted to kill me this morning with an out of nowhere on no news crashing of BROS for 7%. Despite all that, my 5% positions ensure limited destruction on a stock by stock basis.

The pin action looks poor and since I’ll be away until Thursday, expect markets to continually decline.

BBBY just went from $4 to $23. Meme stocks have been lifting off in recent weeks. It’s all about short squeezes and groups of people pooling together to propel stocks higher. This is the oldest trick in the book and Wall Street has been doing it for decades. But now with the internet, civilians get to do it and so we diminish their achievements by naming it something stupid like “meme stocks.”

UPDATE: As soon as I published this the market blasted off. Ok back on the road.

There is no need for analysis as to how or why I lost 2.3% today. It’s just one of those days, unacceptable of course — but I have no one to answer to — as I manage my own money. GRANTED, there are folks inside Stocklabs who mirror me — but you must understand that I do not trade for you. I trade for me and you are lucky to have access to -2.3% down days in upward spiraling up days.

I fixed my allocations and should be A-OK into tomorrow. Then again, I depart for DC tomorrow and will be on the road for much of the trading session. Later on, I’ll frequent some of the “hot spots” in Georgetown and then I’ll meet the President in the evening.

Bottom line: I lost coin today because I am a fucking idiot. HOWEVER, on a long enough timeline I cut through your returns like fire through butter.

Ciao.

We have hourly seasonality data inside Stocklabs that breaks down returns by the hour. It is clear as day that all morning dips have been getting bought for months, as well as market closes. In the early days of 2022 the opposite was true. We’d crash the open, crash the close and fuck off for the rest of the night watching futures careen lower.

You’d think with today’s bad economic data we’d get some sort of “consolidation”; but it wasn’t meant to be.

QQQ hourly returns since 8/1

Right now the market is slowing down and the momentum from the morning pump slowing. This is where bears get trapped, betting against the tape during the slow hours only to get rotisserie’d at the close.

I entered today with a bad hand of retarded stocks and took losses. It was just the wrong hand for today’s tape. I have since swapped out of them for names working today, but still find myself down more than 2% for the session. I am tempted, of course, to hedge and limit my losses to 2% and prevent a potential rout should markets crash into the close. But I don’t think or feeeeeeel that will happen, seeing certain areas of the market up and breadth relatively stable.

From now until 3pm, I will pray to the Gods to provide me with an afternoon pump, so that, I might, perhaps, expand upon my recent successes — which should be, naturally, all so important to the creatooooor of the universe.

Chinese semiconductor orders shrank 17% last month. Their economy, ostensibly, is in shambles, which causes them to surprise CUT interest rates. That’s quite the juxtaposition against the backdrop of worldwide hikes. This, once again, has caused oil to Mcplunge into the ground, off by 4%+.

But it’s not all bad, since the US economy is seemingly ok. Then again, factory orders came out today and they were abysmal and the housing data is suggesting RECESSION.

There’s a lot of cross currents to take in and hopium is causing me to stay long without hedges. I figured since oil is crushed lower the retail trade is back on. We have seen this retarded trade happen all year, turning a blind eye to risk in favor of feeeeeeeeeeel good bullishness in consumer facing brands. After all, Amazon bought iRobot and people still enjoy drinking coffee, and back to school means the shopping malls will be brimming with maskless folks out and about in search for new stylist threads.

Mrs. Fly often ATTACKS me with wild eyed ideas that the stock market, for all intents and purposes, is a scam. Whilst there are elements of the stock market that are scammy and we all know very well indeed that pools of money commingle with one another to enact squeezes or sending stocks straight down to fucking zero and into the bankruptcy courts. However, and this is the part of finance MORONS never understand: the stock market is for raising capital and permitting companies to use the proceeds to grow.

In recent years the cunts in the VC sector have all but stolen the value in the IPO market and have left us with over priced scam stocks, the overall mechanical purpose of the market is to finance growth.

When trading we often see only letters and numbers, totally disconnected from the underlying businesses and macro environment. But if you’re a long term investooooor, you should view each holding of yours as a stake in a business and ask yourself if that business is one you would want to either work at or have a stake in for the long term. If you really liked Apple when they just released the iPhone and treated the stock as if you worked there, buying it every month in a dollar cost averaging scheme, you’re rich today.

The same rule applies to many consumer facing brands and if you like something — I say invest in it.

This piece of shit website has recently become a denizen for doom, war chat, and a black pilled approach to life in general. It’s all very bad for the soul and spirit, so I figured I’d mix it up a bit with some sideways optimism.

Enjoy your Saturday!

Last week Le Fly closed at recent lows — OFF 10% FROM HIS HIGHS. For this week I closed up 7.5%, within a cunts hair of new and fresh motherfucking highs.

Look at how fucking stupid you all look now, sitting there with a busted elbow, retarded, surrounded by degeneracy. “The Fly” reigns supreme once again and all of you fucking retards can dive head first into a water-less pool.

It’s worth noting, the Stocklabs quant portfolio EXTENDED its cock today by 2% and is now +14.65% for the year. This strategy doesn’t use anything but the SL algos and you’d be wise to acknowledge it and understand that my robots can trade better than you.

I stand before you towering, a great man, up 52.33% for the year — bowling on my enemies because it’s fun and easy to do.

I closed the session 18% cash, NO HEDGES, seizing Monday morning by its balls in preparation for THE BIG RUN.

WHORE!

100 years hence, absolute faggots (and I mean that in the most complimentary way) will be reading this blog trying to figure out what men in our era were like and how we traded the stock market. There is plenty of damning evidence about my proclivities on this site, 22,000+ blogs deep. But hidden from the public is a denizen of ill repute — the Pelican Room inside Stocklabs.

It is a nice and friendly place that conforms with SJW/PC culture, very woke believe me. On a daily basis we try to fight the tape whilst fighting institutional racism. It would behoove me not to at least acknowledge, at least in passing, some of the great and exceptional talents inside The Pelican Room. Bear in mind, I do not have to like these people but their skill demands that I respect them.

I’ll mention three traders here in this blog for the sake of posterity, in case I get ran over by a tractor trailer this weekend and lose the fight against carbon emissions.

K Diddy
Gap
Gotrings

K Diddy is an Eastern European member of NATO who prefers to trade futures and has never lost in a trade. I seriously have never seen him lose in a futures gambit. On occasion, he enters my turf (stocks) and crushes. As a person, Diddy leaves much to be desired. He has been known to not protest against the war in Ukraine and I have yet to see his monthly donation to the George Soros foundation, not to mention he has not boosted his COVID vaccine for the 4th time yet. Nevertheless, he’s a great trader. Hats off to you Sir.

Gap is a scorpion milker out of Florida who spends his days watching HVAC videos and nights filming porn. In between those two avocations, Gap is a visionary in the market. As a person of color (POC), Gap is provided with special treatment inside The Pelican Room — but believe me he doesn’t need it! The man crushes directional trades on a daily basis — much to my chagrin. If we ever entered a Mad Max type of world, there is no better person in American to team up with than survivalist Gap. He’s a great trader too.

Gotrings is a member of the Italian mafia and champion fisherman. During the day, he both feeds America meat and members of the Pelican Room with shady backroom penny stock deals that are most likely pumped by people he extorts on the side. Whatever the case, Gotrings is a great trader and in spite of his gambling addictions — Gotrings is a proud sponsor of iBankCoin’s pride movement and enthusiastic donor to the food sustainability movement which entails the safe and clean consumption of vermin.

Hats off to you gents!

Market early going looks solid, with risk on in all of the alpha areas of the market. Whilst yesterday looked grim and foreboding, today looks more of the same — a continuation of the recent rally.

Chips, internet, biotech etc — all bid higher.

Since it’s a Friday, expect a slow and methodical market, like hot molasses dripping slowing out of a jar placed on top of a picnic table.

I will be hedging the close, however. Even during this recent rally, Mondays have been a layup for downside action.

Show me the deflation here you son of a bitch.

I had a good day, +3.85% — only to be beset with 100bps worth of AHs losses on this fucking son of a bitch loss in ILMN post earnings miss. I was gambling on purpose and had two choices: TOST or ILMN. I chose ILMN due to the large capped nature of it and the fact that it is a high quality company.

TOST is +15% in AHs and ILMN is going to zero.

I can’t even boast about my gains today and my inflation is coming back to ball and chains your portfolios anymore. I am livid over this last minute earnings gambit that I took at 3:58pm.

I was going to rant about the inflation narrative coming back. See graphic above and come to the conclusion that any reflation will also be met with inflation, a circular fuckery that leads us to only higher rates and a complete destruction of the global economic order.