Best Rally of 2024 Achieved

You were all warned of an impending rally yesterday. I told you to get 100% long and not to be fooled — but alas I can only do so much as to direct you to the water. I haven’t figured out a way to force you to drink.

After enduring early losses of 60bps due to an errant $TNA position gone astray, I concluded a COVID afflicted week +49bps in easy and genteel positioning — as market chugged higher almost continuously from the opening dump.

I just got back from $SHAK where I gobbled down a double cheeseburger, fries, and a custard. I am afforded this luxury because I am now attempting to gain 10lbs, after cutting for several months and shedding 17lbs. I hope to complete my recovery this weekend and back to the fucking gym on Monday, initiating my first creatine cycle in years — wholly fixated on strength training with the stated goal of being able to crack humans bones in half with my bare hands.

For the year, the market has been dour — highlighted by high beta stocks down 11%. We are only saved by the “Mag 7” son of a bitches up around 7% YTD.

As per usual, we are in a traders market and I am the very best trader you’ll ever come across in your entire pathetic lives.

My portfolio returns mid-month January, 2024.

I didn’t want to blog because I’m fixated on my $TNA position. I should’ve sold it numerous times this morning and now it’s near session lows and I’m thinking this rally is cooked. I might’ve misjudged the weakness of the bears for the small caps. It seems this divergence between large and small caps will last forever and that’s just the way it has to be, rather emblematic of our society.

The smalls get nothing, not even scraps. The smalls get jail and misery, whilst the elite chosen few expand and enjoy life to the fullest. Those who bet on the smalls join them in prison.

My losses have ranged from -10bps to -60bps for the session. Like I said earlier, I don’t think I’ll make it. But, maybe just maybe we can get one of those lunatic intra day 20 green candle in a row rallies? I’d like that.

Listen to me —

The NASDAQ surged by 200 but more than that — breadth progressed throughout the day from 30% to 50%, and even small caps rallied. Given the backdrop of HIGH BETA stocks down 13% YTD, it would BEHOOVE you to not give it the old college try here, aggressively long, into what could be the first real melt up of 2024.

I closed the session +99bps, in yet another slow but methodical session. My trades are down in number by 2/3rds because I have zero patience for errors in the month of January. I am +2.77% YTD and intend to keep these returns and build upon them throughout 2024, as it is my custom to do so.

My theme is to be long stocks out of the grasp of the canaille, the unwashed $HOOD trader using Reddit as their main source of information. I spit on these people and hope they lose all of their money and spend the rest of their lives as actual slaves.

GOOD DAY

You pussies had it good in 2023, coming to work and effortlessly making coin off the backs of the stocked market — always rigged higher. Well it’s 2024 and all of that shit it out of the door, as your benefactors at the FOMC find themselves in an intricate pickle of higher rates in the face of zero inflation.

What gives?

WHO THE FUCK KNOWS?

All I can tell you is, in all of my years doing this shit — it’s never obvious and my assumptions in the beginning of the year are rarely, if ever, prevalent at the end of the year. If you took my predictions at the beginning of every year since I started blogging at iBankcoin circa 2007, you’d lose all of your money and be sent directly into the poorhouse. I work best as a reactionary, no different from the time I played baseball and could hit your hanging changeup over the wall and beyond into the fucking bay.

As the afternoon wanes on, you see the market is now shooting straight the fuck higher, perhaps 13 green candles in a row. We will soon be entreated to a FUCK YOU red candle and the entire good feelings will be ruined. Into tomorrow, I am cautious but bullish on select stocks. The type of stocks I am buying are institutional favorites, aka smart money. I’ve always been smart money, even when relegated to retail. I will of course contemplate a hedge into tomorrow — but the risk I apply is best mitigated through the duration of time I intend to hold — not the components itself.

+98bps with 1hr and change to go.

Observe how $NVDA, $AAPL $META, $AVGO and all of the high priced stocks are up whilst the smalls collapse into their graves again. At the open, I sold all of my stocks — booking a gain of +97bps. I booked the gain because I didn’t trust the market and made enough for the day. I was not greedy, unlike many of you. I have since spent my day in peace and tranquility as you’ve been bedraggled by stocks like $SAVE into an early coffin.

I will tell you this — this is just about the worst market in the world for some stocks — but pretty good for others. You’ll have t accept this fact and play the prevailing trends.

I’ll probably delve back into high priced stocks soon, setting up for tomorrow’s bounty.

We are not close to oversold yet. As a matter of fact, as you can see by the chart below — we are barely at early Dec 2023 levels. There isn’t any panic in this tape, especially a tape that is holding up the tera caps.

But let’s have a look at which notable stocks are in a BEAR MARKET for 2024.

Stocks down more than 20% for 2024:
$BA -22% $JD -22% $COIN -23% $LI -22% $MBLY -34% $RIVN -28% $ENPH -20% $VFS -31% $NIO -30% $CVNA -20%

Traders exited 2023 in love with electric vehicles and started 2024 with absolute seething hatred for them. There is nothing you can tell me that will convince me this is cogent market analysis — the “all knowing efficient market theory at play.” As time goes on and the more experience I get in trade, the more I realize the market is comprised, at an increasingly rate, abject morons. I do not mean that to come across as elitist or make myself out to be an intellect — for I am not. HOWEVER, once upon a time if a company traded at 10x sales that was considered to be an outrageous valuation. Yet now, investment banks feel comfortable pricing IPOs at 30x sales and then people wonder why $VFS is down 90% from its highs.

The checks and balances have been reduced to barely anything and the only actions the SEC are interested in are against penny stock peddlers who can ill afford to fight them in court.

I closed down 91bps, an improvement from the lows I held into 3 o’clock but another down day, low lighted by my non-stop state of ailment due to another dose of the COVID-19. I am grateful for not being vaccinated.

Into tomorrow, I’ll give it the olde college try again, mostly very long with a downside hedge against oil stocks — since those have been collapsing almost continuously for the better part of the past 18 months.

Now that I’m apart of the cadre of the transgendered bull, I was wondering when the next bailout might occur? Perchance, would you happen to know? I sit here atop losses of the large varital, down by 111bps, and was hoping that NATO would apply some of its ‘rules based order’ to this cadaver of a market. The market, for the love of God, has been bad all year.

How long am I supposed to endure this? Is it a test by God to see if I am worthy of going to heaven? Yes, that’s exactly what it is: a democratic capitalism test by God himself foisted upon each person. I am gathering that if I sell before the rally to come — I will be sent directly to hell when I perish — for not having faith in the market. If I hold on and endure the pangs of the bear — I will be rewarded with a feast and champagne toasts and perhaps some steaks. That’s right — God himself will cook me up some steaks as a REWARD for holding through the great bear run of 2024. Might I suggest in a prayer that he also make me some Pomme Frites with a fresh aioli? I do not like ketchup.

I’m trying my best to remain net long for the big run to come. I keep waiting for the turn — but it never comes. It’s like waiting for the bus in the winter cold without a hat or gloves. I have an $SQQQ hedge and none of my longs are risky — but I’m still down 0.75%.

The NASDAQ is -200 but the bigger story is the US 10YR up another 6bps. The incredible move in rates is suggestive of inflation; but I thought that was already put to bed?

I’m sure there is a rally to come and by the looks of it, I’ll probably miss it too.

For now, I remain cautious but hopeful, since the inflation narrative is dull and the bears are generally weak.

I switched my bias into the close and went fully long. The reason was simple: bears lacked the gumption to see it through. As such, it’s very likely the bulls will impale them at the open of trade tomorrow. Nevertheless, this is not a sporty tape and one should avoid adventurism.

I remain long a pastiche of very high priced stocks, stocks so high they escape the grasp of the Third Estate, who are presently pre-occupied losing their 2023 winnings long shit like $UPST, $AFRM, and $CVNA.

On the heels of the Trump victory, the democratic establishment is reeling in preparation of their prison cells to come. All will be stowed away once the constitution is placed on pause for emergency powers, the powers Trump will need to stow them all away. Rivers of tears flowed through the 0s and 1s of X last night and many more will come, as vengeance and blood revenge inch closer towards the sinners.

I took comfort in seeing it again. It reminded me of the glorious days of 2016, just before Trump was fooled into letting go of General Flynn. God willing, Trump will name Flynn as his VP in 2024, further increasing the panic and the fright amongst the sinners — perhaps even sending them to Canada or even Mexico for refuge.

I closed the session -35bps, not really trading or into this tape one way or another. I am simply long now as a matter of default since the bears are very weak people and are never able to mount any serious attack on the bulls.

It’s very easy to get caught up in the moment of COLLAPSE, fondly returning to the memories of 2008 when all was completely lost and all we had to do was wait for the end to manifest itself. Unfortunately for us, it never ended in 2008 and the world kept spinning, gayer than ever perhaps. I don’t think, in all of human history, we have ever had a more gay era than the one we’re living in now. Fancy men prancing about, moving with impunity. No risk, lots of rewards.

We look at the markets today and find joy in it’s demise but if we look even close — we can see that $MSFT is +3% YTD and most large capped stocks are in fact HIGHER for the year. Sure the smaller caps are lower — but no one cares about the small people — am I right?

Presently, I am 17% weighted $TZA against some longs because a man can always dream and they’ll never take that away from me. Soon, right wing goon squads will usher in El Duce Trump and $GEO will build special prisons for the democratic class of person — re-education centers for them to reflect upon their many mistakes and errs.

Into the final hours, I expect noting too terrific. I have accepted the fact I am likely to lose money today and blame it entirely on myself for getting sick. If I had been stronger, better equipped, I might be up today and perhaps my life would be better for it.

Breadth is 33%. Small caps are leading lower, but large caps aren’t up either. All appears to be lost again.