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
20,622 Blog Posts

SPACs Are Wall Street’s Latest CRAZE

NKLA is the new TSLA. FMCI is the new BYND. And OPES is the new SHAK. This is the way of the market, led by millennial FUCKHEADS via Robinhood. I can play a long and will indeed. I sold FMCIW for +17% this morning and then it ran another 20%. It is a fake meat play. You saw NKLA go from 20 to $100 — now larger than F and GM without ever making a fucking car.

Well I’ve got another one — OPES with warrants OPESW. The company to be is BurgerFi. I’ve eaten at them here in NC and they are solid. It’s not like SHAK — but ok. But that does not matter, pal. See, all that matters is the stock and right now — due to the success of VTIQ, which became NKLA — everyone is looking for the next SPAC to run.

Back in the day, SPACs were for fucking retards. If you bought them, you got it at a boiler room. Now these Robinhood investors love the — sopping them up with gravy.

Admittedly, I am long OPESW and I own another one in the pot space. This is the market we are in now. Do not ever fight it — for you will only miss out and lose.

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Futures Are Lower, So Expect Stocks to Trade Up

I have a busy morning and probably at a bad time — having a bunch of absolute shit on my sheets with Dow futs -325. The Nasdaq is merely down 48, but I feel like I could get fucked if I’m not careful here. The market is up so much as of late and all of the fucking MORONS are at the trading turrets, blessing the tape with their inane stupidity.

Nevertheless, the overarching trend has been for SHARPLY HIGHER prices — all dips bought twice over — head stomping all short sellers until their bodies turn into dust.

Let me be clear: WE ARE ABSURDLY overvalued — but will it matter?

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Markets Post Up Another Four Hundo — Money is Easy to Make and Fun

I strolled into work whenever the hell I felt like it. I did not bother looking at the time, but awoke from my slumber when I felt like doing so. For breakfast, I had had eggs on a toasted brioche, with a latte, and some greek yogurt. I helped myself to three cups of coffee, not because I wanted to — but because I could.

After achieving +200%+ for the year last week, I decided that I wanted even more money. In the morning I had just 4 stocks, all up, so I sold them.

TPR +2.8%
JMIA +9%
BBBY +5.2%
WMC +17.2%

Then I decided I wanted to make more money, so I bought several others and sold them later on — one or two within 10 minutes. Pardon my lack of detail, for I do not abide, nor do I recognize, your form of time measurement.

CSU +24.5%
IZEA +23%
ZAGG +18.5%

Some might argue I am greedily swimming in the market and perverting the stock game to fit my needs. That is precisely what I am doing. Let me be clear, I am trying to lose money. I closed out the session long 45%, all fucked stocks, SPACs, warrants, bad bad companies. You will watch me sell these names tomorrow for obscene profit. Money is easy to make and fun — nothing at all can stop me from acquiring more of it.

DO NOT TRY THIS AT HOME!

Even though market rocked for +461 today to new record highs, this isn’t for the faint of heart. As a matter of fact if you’ve been following me for months, stop now and just watch me. This is the part of the show where you watch in awe at the spectacle, peruse others performing acts of amazement for a gob-smacked crowd.

It takes large testicles to trade in a market like this. I just so happen to have the largest balls in the world.

Good day to you and see you tomorrow in Exodus.

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BACK IN FOR ANOTHER FORAY

I just need 1 more day to fulfill my needs, my destiny to achieve something great in this fuckery. I bought 4 stocks, all low brow runners that would have FINRA knocking on my door if I was still in the business. Frankly, this is where the money is being made — so as long as money is to be made here — I will continue to buy them.

The Dow is +233 and the present trend is to buy ANYTHING that is down for the year. We are at the bottom of the barrel, where pot, mortgage, and oil stocks are leading higher. Most of the mega cap tech is down or doing nothing — because this is the point in time when young punks with negative knowledge of the market shine.

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Closed It All Out — 100% Cash Into This Fucking Rip

I have an immense case of FOMO. I want to buy it all, so I went to cash. The final foray of the rally is now upon you — massive outsized moves in oil drillers and mortgage companies. This is what hell looks like.

I had just 4 stocks on the books into today and blew them all out. My last 3 trading days has been remarkable, the best stretch in about a week. The streaks keep piling on top of one another, as I am 16 for my last 17.

XSPA +51.6%
CDR +18.6%
UAA +10.7%
DAN +4.1%
GT +15.8%
KIM +10.9%
FNKO +16.1%
CC +14.6%
OLED +3.8%
DDD +3%
CREE +4.6%
(UAVS -5.2%)
FRAN +37%
TPR +2.8%
JMIA +9%
BBBY +5.2%
WMC +17.2%

The highlighted ones were today’s trades. I suspect the market will do fine — but just in case it reverses lower and starts heading down again, I am 100% cash. I am the text book definition of winner.

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Business As Usual (BURNING WEST EDITION)

If you lived in the 1940s, you probably would’ve thought the world was really fucking nuts, same as today. The upside now versus then, at least we’re not killing each other on an industrial scale. There’s lots of humiliation and nonsense FUCKERY taking place — all designed to make people feel bad. None of what you see happening is making anyone feel good. Letting off steam and becoming violent leaves a person feeling worse, after the adrenaline dissipates. We all feel good when we’re building towards growth and renaissance.

The market has been ignoring the COVID-19 shut down and of course the riots, which have all but destroyed the fucking economy. Never has there been such a wide chasm between Main Street and Wall Street, which is probably fueling the riots with a little extra gasoline.

Business as usual for us — the heat from the gasoline will get even hotter as the summer months deepen.

You can view my Twitter media stream for up to date videos of the global race riots. Very entertaining stuff.

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How Much Money Are These Riots Costing America?

You can’t put a price tag on human rights — but that’s exactly what I want to do. FUCK OFF — this is a stock trading blog. Take your riots and have fun with them. I endeavor, all of us endeavor, to profit from that brick left on the side of the road into and out from the window.

The LA riots cost an estimated $1.2b. That was mostly isolated in one city. This fucking riot is contagious — displaying its angry face in all major cities in America — more or less upwards of 400. Taking into account these fucking looters stole and broke and burned just about everything in their path, I am obliged to presume damages are in the $500b range.

You have to estimate inventory loss, materials, labor, and all of the downtime. Business will never be able to open, as long as there are rallies every day — for fear of that little communist group lighting it on fire in the name of ANTIFA.

As markets rage towards new highs and we watch the country literally burn, I am reminded that this behavioral study we’re partaking is tricky — always throwing curveballs — changing the rules of the game as we go. In trading, at least from my vantage point, the only rule is there are no rules — believe nothing and assume everything.

Enjoy your weekend riots.

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I BOWLED ON PEOPLE ALL DAY LONG AND HAVE NO IDEA WHAT’S GOING ON

I could easily project myself to be a genius today, shilling like a motherfucker about my SHREWDNESS and how awesome I am for nailing some trades. Truth me told, my process is now automatic. You know what it takes to make money in this market?

IT TAKES BRASS BALLS TO MAKE MONEY IN THIS MARKET.

Look at me this morning — talking shit, showing you these trades.

XSPA +51.6%
CDR +18.6%
UAA +10.7%
DAN +4.1%
GT +15.8%
KIM +10.9%
FNKO +16.1%
CC +14.6%
OLED +3.8%
DDD +3%
CREE +4.6%
(UAVS -5.2%)

Then what did I do? I made even more money.

FRAN +37%

See pal, those gains you see there have nothing to do with anything on my end — it’s all the market. It is a gigantic clown show of monumental proportions. I cannot stress this enough: I HAVE NO IDEA WHAT IN THE FUCK IS GOING ON HERE — but have extreme faith in following along like a dodo-bird into the crevasses of Wall because I think there is food and water there. Maybe I die in the crevasse, maybe not. Either way, it’s only money.

Into the close, I bought some other stuff and raised cash to 80%. My stock picking is strong, but I’d say my discipline to sell quickly is my greatest strength, alongside my keen awareness of the winds — always knowing how to monitor risk and the feel of the market, embedded in the behavior of the tick. These are things you cannot know unless you trade. You cannot learn these things from a lesson, so do not come here for advice.

I am a fisherman. I fish. You should probably just sit down and eat — because no matter how hard you try — you will never be as good as me.

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THE HAUL

I am only a fisherman.

Today’s haul.

$XSPA +51.6%
$CDR +18.6%
$UAA +10.7%
$DAN +4.1%
$GT +15.8%
$KIM +10.9%
$FNKO +16.1%
$CC +14.6%
$OLED +3.8%
$DDD +3%
$CREE +4.6%
$UAVS -5.2%

95% cash, only FRAN left. This is what total victory looks like.

Thanks for playing.

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