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
20,690 Blog Posts

THE FLY WINS AGAIN

I’ve been busy all morning — but I will have you know, my trading account busted loose today, up more than 330bps, led by gains in CAN, OSTK, and JKS. As a matter of fact, mostly all of my stocks are banging higher. I took gains and immediately reallocated — because when I win I do so in droves — streaks that defy logic or gravity.

As you sit there stupefied by an ascendent Fly, let me remind you fuckers my quant, which has 50% of my liquid assets, is +22.3% for the month, led by gains in UPWK (94%), MGNI (+55), FVRR (+27%), and ENPH (+28%). I have 11 others stocks up between 10-25% for November.

This is what happens when high IQ meets work ethic in the markets.

Still bullish, incredibly so, heading towards National Festival.

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Back to Winning Again

Big fucking day at House Fly — large dicked gains all around. I gained 160bps in my trading — in and out of a flurry of stocks — all broadcasted live and in color inside Exodus — the world’s greatest trading room with the biggest tits in North America.

I have innumerable chores to tend to this evening, so I’ll make it brief.

I waded into margin today, at one point 10%. I eliminated that debit, but finished 100% long. My days as a “Value Guy” are all but over, having only a few value stocks left on the books. Today’s BIG PUSH was in EV — names like FUV, SOLO and KNDI breaks dicks to the upside.

No idea how long this great trading environ will last — but I’m not in an rush to see it end.

MTD: My long term is +8.2%, Quant +20%, trading -0.6%

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No Stopping Thru Black Friday

Next week, starting Monday morning, Le Fly will begin drinking in earnest. I will drink while playing tennis, trading stocks, even while trading. I will end my alcoholic binge on Thanksgiving and then give it up till St. Patrick’s Day, where every single Irishman in the world cooks bland food in beer.

I am having a fine day, +200bps ++ and pleased with my trading positions. I do not believe we’ll trade down until Black Friday. The expectations are so low, I doubt we’ll trade down until Cyber Monday. You should, however, prepare for fuckery. The COVID numbers are getting worse and we’re not betwixt the reality of shutdowns and the euphoria of MOAR.

While comforting, do not rest on your laurels, otherwise you’ll get shot out from a cannon and directly into a concrete wall.

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Raging Fucking Melt Up

Momentum stocks are back in play, especially in the EV sector. Shit like FUV and SOLO are roaring to new highs, as America braces to toss their engines into the trash in exchange for a battery operated cuck-mobile. Exxon
mobile paid me to say, “gas is cool, so get yourselves a nice big world killing fuckhead truck.”

I tool various trades today, in and out of BLNK, DMYT, JMIA, NLS, and AYRO for profit. I cut losses in stocks that did nothing, such as HSY, CYH, GME, and GME.

I am fully invested, up 140bps in my trading, no longer a value man — more oriented towards fucked up growth stocks.

In my Quant and new Long Term Dollar Cost Avg account, things are even more degenerate, +2.1% and +2.2% respectively.

Things have a way of working out at House Fly, amidst the tumult and the drama; in the end, I always win.

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COLLAPSE!

The market was doing fine up until all of the sellers showed up. The Dow closed down a staggering 300, whilst the NASDAQ castrated for 100. In my previous blog, I had boasted over my timely efforts rotating back into social distancing plays.

A general update on my trading account: ruins

I closed out the session off by 160bps. The details of that horrid performance isn’t important. What is important is my ongoing struggles to find a semblance of normalcy or forgiveness in this market. I am deserving of more and do not like having to wait for it. I have been extraordinarily patient with the market and have waded into her for the better part of two months now, only resulting in loss.

How long do I have to wait for some sort of gain? When does the agony cease?

I have tried every which way but loose and my options are henceforth dwindling, as I coddle and care for this bitch of a market, this mountebank whore whose glacial bosoms caress the faces of unappreciative short sellers with collapse after collapse.

Granted, we’re more or less at record highs and I am up rather sharply (+17%) in my quant for the month of November. However, I exist for more and when I do not get it I get very very angry.

GOOD DAY!

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A PLAGUE IS COMING: NYC SHUTTING DOWN

Listen to me small pleb,

NYC just shut down their schools because of the plague. Once this blackness infects your lungs, you’re through. It’s not a big deal, really. You can only die once and nothing could be better than departing to heaven — right Christ bros?

Nevertheless, because I am a money crazed degenerate, I acted quickly on this newz and cycled the fuck out of some of my “value stocks” and into STAY AT HOME stocks. You will all cease having fun, at once, and remain indoors wearing your masks. Once the vaccine is prepared and enough doses produced to create a profitable situation at the NIH, then and only then might you go outside again.

In short, order stuff online and watch the teevee and if you need a doctor, do it online.

That’s the narrative.

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Friendly Reminder: Never Sell Short Stocks into National Festival

I realize Thanksgiving is illegal in many parts of the country this year. However, the point remains, thou shalt not sell short US equities into the haze of National Festival. It’s simply inappropriate to think and to behave with such malice, at a time of year when we stuff our faces with cranned berried sauce and drink whole bottles of wine straight from the bottle.

I will have you know, I am SUSPENDING my booze free commitment next week thru Thanksgiving, in order to drink all the time. I have every intention of drinking all the time, maybe even during trading hours.

Today’s tape is of course good but I have been out again. I will be back to normal trading hours soon enough. My Mother In-law is scheduled to arrive here tomorrow, which will last for what I imagine to be many many months.This is fine by me since she is a big Fly fan, even taking my side often against the sometimes evil Mrs. Fly.

My accounts are all up, trading +55bps, a rather somber and milquetoast showing due to my value stocks predisposition. I sold NKLA today for +12% and I ought to venture out into more risky assets; I really should, but a value man cannot discard his convictions just because the market is handing out free money. I have a job to do, not exactly sure what that is anymore, but I am going to do it nevertheless.

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Markets Drifts Lower, Everyone in Exodus Made 10% Today

No thanks to me. I was actually down in my trading account. But, apparently, all of those SUPREME FAGGOTS made 10% for the session, long RIOT, FUBO and whatever the hell else was up 20% today. What a wonderful planet I live on, where people inside my own trading room cuck me to bare witness to their elaborate gains — all of them circle jerking around their returns, probably cramming sushi into their fat faces as they grin at the screen where I wrote: “But I was down today.”

No pity, no “hey Fly, scooter, you’ll get ’em tomorrow.” Instead, I see one comment after the next +806bps today — “best day eva, thank yooo Exodus.”

Well Fuck off. I’m a value investor now and I scowl at your 10% daily gains. I was down 2% and liked it very much, aside from the part where I lost money. But it wasn’t my fault. Jeff Bezos and his evil Amazon destroyed WBA, MCK and CVS, all were doing fine until Amazon decided to sell drugs.

I am sure, as God is my witness, I will have my revenge, very bitter but also sweet, sometime in the immediate future.

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Citi Predicts 20% Decapitation in Dollar, Post Vaccine

Let’s not pretend everything is okay. Citi issued a note yesterday, brushed under the rug because Citi generally sucks. However, seeing the rise in Bitcoin, now almost $18k, coupled with RISING RATES during a time of collapse — one has to seriously think if it’s at all possible. A 20% drop in the dollar, post vaccine.

The widespread distribution of vaccines to combat the coronavirus pandemic and ongoing monetary easing could cause the U.S. dollar =USD to weaken as much as 20% next year, Citibank said on Monday.

“When viable, widely distributed vaccines hit the market, we believe that this will catalyze the next leg lower in the structural USD downtrend we expect,” the U.S. bank said in a research note.

The idea is massive denigration of the dollar due to wanton stimulus, which in turn will cause stocks, especially foreign stocks, to trade up. Back in 2008 we had a situation like this, the crushing of the dollar and precipitous rise of commodities, including food, just prior to the housing collapse. The environment was surreal — and everyone was placing bets on multi-nationals, oil, farms, potash, dry bulk shippers etc. The inflation trade worked double in Australia, where commodity related stocks there had the double win of rising currency and commodities. Aussie stocks and real estate were smoking hot. But then all of that ended and the kangaroo fucked himself.

The idea of the $100 tomato was something I often fantasized about. All sorts of regulations are scheduled to be enacted soon, such as NO MORE NATTY in San Fran and no more gas powered cars in Cali by 2035. All of this seems suicidal — because it is! But during mass suicide events, the coffin makers and the gravestone makers bank coin, so I’ll be keeping my eye on all of this stuff for the rest of you — as you slovenly sloth thru the markets, fat and slow, hoping for more Federal Reserve bucks to bail you out. Well guess what, Bozo Trump is trying to squeeze in one last fucker into the Fed before he heads out to build his big beautiful library. Her name is Judy Shelton and she wants to get back onto the gold standard.

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Value Stocks Slumber While Momentum Barnstorms Ahead

I got fucked a little with Amazon’s latest foray into healthcare, sending shares of MCK and CVS sharply to the downside. I sold both and moved on, -7 and -9% respectively. I don’t hold anything, lest I’m super confident, after -10%. This was close enough for me.

I rolled the proceeds into two ancillary crypto stock plays, as BTC big dick moves higher, steamrolling towards new record highs. I am, as you know, very bullish on ETH and expect it to trade into the thousands at some point this decade.

Overall mixed bag for me, quant up, trading down. I’m not at the home office, so I’m not slaving in front a series of screens today, jerking off to moving averages. Nevertheless, I see momentum is back in play with alt energy and EV stocks popping off, leaving my old man stocks in the fucking dust.

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