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
21,387 Blog Posts

Redemption

The turned started yesterday, when faced with harrowing losses I ceased socializing with the losers inside Stocklabs and went to work. I ultimately failed to make money, but I CLEAVED my losses in half and traded well. This morning I adapted to the market with proficiency and moved all the way long into old man dividend paying stocks, which were immune to today’s fucked tape.

I traded gently for the session, closing out +72bps in a tape that normally might’ve festooned my guts all over Wall. Instead, with resolve and panache, I elegantly traded higher — capstone’d with a miraculous series of trades in the cannabis space that is going to make me coin on Monday. It started with FLGC and it will end with stocks like HITT, OGI, CLVR and AGFY.

I am 17% cash, and 25% long pot stocks. Smoke or be smoked is my motto.

Enjoy your weekend.

Comments »

Small Caps Wrecked Again

I was fortunate to have been long crypto derivative plays CAN and MARA this morning and ended up selling out of everything — locking in a 40bps gain. My quant seems to always do well during this sort of tape and is now at highs of day +78bps and my YOLO account was only long UDOW and is now in cash, +55bps. All around, a gentleman’s day, with austere gains, nothing too ribald or unsavory.

I have since redeployed my assets into OLDE MAN stocks — canned soup vendors and person’s interested in the Kraft of ketchup. I am 58% cash, the rest old man — eagerly looking towards the coming CRASH in markets to justify my austere position.

We will likely do nothing today and I have been trading poorly, so I doubt very much it’s a good idea to risk too much in a tape as cancerous as this. Gains are concentrated in RISK OFF names today, Utes, divvy payers etc. We are seeing the 10yr COLLAPSE in yield today 5bps to 1.32% and it’s also notable that Consumer Sentiment plugged lower to 11 year lows, even lower than peak COVID crisis.

The world is in disarray and everyone is of course concerned about catching the virus with a 99.85% survival rate. You will be fine and your family will be fine — be smart and be vigilant and also buy olde man stocks.

Comments »

Winning While Losing — StockLabs Demo is Tonight!

I teed off 65 trades and skipped my afternoon blog and hadn’t eaten or drunk anything for the entire day. I was fixed on making back the losses from this morning and, once again, I came up short. I got within -85bps to only slide back down a bit to -1.09%, placing me about FLAT for August.

Now I tell myself “Fly, you’re in a slump and still +10% the past 3 months, so STFU” — but it doesn’t make me feel better. Nonetheless, I am not dispirited by today’s tape, as there were an interesting pastiche of stocks hammering higher. For the most part, the skims where tight, as I was booking trades with gains of 1-3% max. I had to do a lot of trades and get out fast in order to make back more than half of my losses.

I closed the session about 47% cash, with a slight bias towards crypto derivatives. Should BTC-ETH recover tonight, I should awaken from my slumber to gains of +50 to +150bps.

TONIGHT IS THE FIRST EVER Stocklabs DEMO — hosted on a Zoom call by none other than the venerable Citizen Squared. He is thorough and well worded and intelligent and can walk you through our platform and make you feel at home, unlike me who often succumbs to periods of salt and lashes out at others for asking bad questions.

If interested in the product, which I can tell you now is the only thing you will need when trading, email me at [email protected] gmail. I am closing the invites at 5pm est. The event will be at 7pm est.

Ciao.

Comments »

RAKED OVER COALS

My trading excellence continues, unabated.

I am getting skinned alive now, off by 230bps and nothing can stop the bleeding. I’ve given up my MTD losses and now stare at the pale horse down 1.3% for August. I can blame the market and get really mad at the Gods for cursing me in such manner, being otherwise flat for the past several months from my highs — but what use would that do? I am in a trading slump and I’ve been in innumerable trading slumps during my career and the best way to get through them is to accept the circumstances for what they are — and trade through it.

I won’t help myself by hiding or ignoring losses, failing to close out losers because they make me feeeeel bad. For whatever the reason, I fucking suck right now and the methods I am using are failing to provide me with the sort of returns I am accustomed to in order to come back here and boast about them.

Wallowing in self-pity won’t help either, neither will walking the fucking dogs at noon, which almost always disrupts my flow.

Today’s market is dreadful, with exception to SAAS and healthcare busting out. Also there is some strength in recent IPOs, internet security stocks like PLTR, and COVID-19 vax plays.

I will attempt to trade back to green; but truthfully I’d be better off drinking soda pops all day and waiting for tomorrow.

Comments »

Max Effort; Minimum Results

I traded real hard today again, eagerly watching my screens in an attempt to capture some lightning. I managed in and out of dozens of stocks today, netting a result of -24bps. I’d rather throw myself into a pit of fire than continue this for much longer. I need a break away market, down or up — doesn’t matter.

In my YOLO account where I do one trade per day, whole account, I was +162bps.

FML

Ended with 33% cash, doubled sized in two positions — all disclosed in Stocklabs. Sign up now you fucks — so you too can shed 24bps for the day after booking 60 trades.

We’re doing a live demo tomorrow at 7pm. If interesting learning about Stocklabs — email me at [email protected]

Comments »

How Do We Avoid Another Lockdown?

Clearly the vaccines are not doing what they intended. You can blame pre-vaccinated people all you want — but these fucking numbers suggest the vaccines are shit. Aside from the occasional vaccine lotto death and/or heart attack, they’re not preventing people from contracting COVID at the rates once promised. As such, we now have a heart shattering COVID breakout nationwide in the middle of the fucking summer, when vitamin D levels are highest.

Do you hear me you fucks? If 70% of the available pool of people are protected against the fucking virus, the numbers of infected lads should of course be appreciably lower than what is being reported. The stated excuse is this “variant” is so much worse. Well now.

What will happen in the Fall when vitamin D levels collapse and we get a real breakout in COVID cases and deaths? Under what circumstances can we possibly avoid a lockdown?

Answer: we cannot.

Nothing can stop the virus and it’s here forever — because some fuckers thought it was a nice idea to make a wonderful bio-weapon for the world to enjoy — the very essence of globalism personified.

Heading into the final hours of trade, I am more or less breakeven. I was up 90bps and the down 90bps and now I am in between, but motivated to at least make some money.

Comments »

SMALL CAPS COLLAPSE AGAIN; CRYPTOS JOG ON

ETH is trading mid $3250s now and nothing can stop it. There is a DEFLATIONARY vortex happening now in ETH, following the London Fork, which has produced excessive burn. Coupled with gas fees, you are now looking at ETH deflation at -3.2%. While all of you clamor for the next JPEG file NFT to place inside your hard drives, demand for ETH is at record highs, with volume in value outpacing BTC for the first time ever.

Into this chicanery, I like crypto stock derivatives like BTBT, FTFT and HVBT — but I also like gold because even Peter Schiff deserves mercy.

Overall however, markets are a calamity, with strong selling in small caps and concentration of wealth in large. Nothing more can be said about this, other than we have a profound sickness in many of the popular trading stocks and the idea of getting more than 1 or 2 days of continued upside is somewhat foreign, unless you’re long larger capped names.

Which begs the question: if larger capped stocks are easily trending — why do we keep chasing small?

I’ll answer that in the next blog, fucked faces.

Comments »

Pacing Slowly in a Summer Slumber

Last month I made +1.7%. This month I am +1.3%. Back in June I made 7.6%, but way off the highs of +16% which I achieved mid-month. It seems I am being hard on myself since I am +220% YTD and making money each and every month. But the past 2.5 months have been slow, real slow like hot molasses dripping off a table in the barn.

I am fully equipped to crush the market with the high speed volume tools inside Stocklabs and I shall at some point BUST LOOSE, as I always have and always will possess the ability to assert brilliance upon my trading accounts.

We will trade great again and when we do, there will be outrageous galas and palaces festooned with the guts of our enemies and also money, lots and lots of money.

Until then, we continue the process that has gotten us here, at a point in time, after so many years and so many poor markets, with accounts at record highs.

NOTE: We are doing a live demo on Thursday 7pm to display the Stocklabs Market Intelligence Platform. If interested in seeing what it’s all about and why it’s so much better than our dearly departed Exodus — email me for an invite. We are doing first 100 served.

[email protected]

Comments »

Bogged Down by Malevolent Forces

I like to blame celestial circumstances on days when I underperform. I was bogged from the start, adrift at sea in a YALA position gone to trash and a 15% position in CLOV down 5%. These two things set me back by nearly 200bps. I then traded wonderfully and got within 90bps of breakeven — only to once again slide down the bannister like a whore into losses.

I am off by 150bps, which isn’t a catastrophe but it’s the repetitive patterns that are grating at me. In the past I was able to trade out from holes and cleanly command gains without much effort. To do so now seems like a tall task and one that is often begotten by lucky chances and surprise breakouts. I find this market to be difficult and the patterns too chaotic to make coherent sense of it. It is the type of market, plainly, better designed for longer term cap growth. You keep a diversified blend of stocks and eloquently stir Chobani yogurts all day.

I won’t give up; I can never give up. I will keep trying until I am blind.

Into the final hours, I will close out the losers and attempt one more gambit.

Comments »

The Reflation Trade is Back On!

Who knows what the fuck is going on anymore. Just last week bond yields were heading to zero and now they’re STEAMING higher, with the 10yr above 1.3%. It makes no sense to attempt to predict anything, since it seems indelibly clear to me there is no rhyme of reason as to why things happen — they just do.

Today we have infrastructure and reflation trades back on the table. The inflation boogeyman is back and WTI and commodities are running with this theme. Will it last? HOW THE FUCK SHOULD I KNOW?

I can only abide by the currents and adapt and have done so, placing most of my trades in commodity related plays. There isn’t much else to do, other than to play the stocks of the day and try to extract 1-3% every day for as long as we live.

I got corn holed early in YALA -13% and my CLOV position collapsed on me and I watched in horror as a 5% gain turned into a 5% loss. Nevertheless, I jog on, backs against the current — trying ever so desperately to make it all back and more.

Stay tuned.

Comments »