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
20,859 Blog Posts

What the Fuck is Driving this Lunacy?

A few working theories.

Massive “wealth effect” causing risk assets to surge. The wealth effect occurs when stocks are way up and degenerates peruse markets for greater gains.

Fed and government stimulus which has increased the money supply causing excess risk taking. This is classic inflations and we’re seeing it in RT in the markets.

Low rates. With rates this low, it pays to borrow to speculate.

The ancillary beneficiaries of the soaring market, presently valued at near $60 trillion, is the surge in cryptos and other non-traditional assets like art and other collectibles. The knee-jerk reaction is to fade this idea — because manias come and they go and they always go a lot faster from whence they came. But what is thew catalyst in the near term? We have a government on the cup of doling out another $1.9t and the ball is quickly rolling downhill.

At the end of it all is the notion of confidence. There is hubris embedded in this tape — extreme confidence. You cannot will it away. In order to break this spell, you’d need some significant damage to important momentum sectors.

My advice: keep going until it stops working.

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Listen to me. I have ascended to new levels of winship whereby I forgo bothering myself with pedestrian returns in exchange for the grandiose. I have numerous irons in the fire now and have been trading since 4am. I am presently soaring +570bps thanks to larger than life gains in KIQ +45%, DNN +14% and a pastiche of day trades that is frankly making my head spin.

GMBL +10.2%, BSQR +19.7%, EAST +15.2%, USWS +14.3%, GSAT +10.5%, KTRA +6.4%, BTBT +10.7%, SNDL +10% and lastly ANY +11.3%.

I could of course head back into the market now with the materials I have and make $15,000. Can you? Can you?

Playing a bull market is easy. We’re all millionaires and geniuses. We delve into shit stocks and come out smelling like roses. But can you complete on a level such as I am on? I severely doubt it.

Markets look to want to fade a little here. I am not going to predict a pullback again — because why bother? But I am 50% cash.

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With all of the wealth creation taking place, coupled with the vaccines and the prospect of normalcy, taking a shot with some low priced oils could be the next play. There is so much excess and hubris now, I cannot help but to feel doom is casting its odious shadow just around the corner.

But truthfully, even if the market collapsed 20% in a single day, I’d still come out way ahead.

I’m +96% YTD and was up 500%+ last year. Normally when someone says something like that eyes should roll — but given the absolute fuckery in this tape, I know you can see how it’s possible. I have never made more money than I am making now and I don’t want it to end.

My advice is to continue putting money into areas of the market that are working. I can help all of you morons if you like — but you’ll need to be inside The Pelican Room every day via Exodus.

God speed.

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This market had elevated all parties and anointed all to be masterful stock traders. I, for example, used to be content with 0.5% daily gains, equating to 10% per mo or 110% per annum. A fine return, no? However, I shit on those returns now, as I deem them to be both disgraceful and laughable. I now return a minimum of 5% per day, or 100% per mo, or 1,100% per annum.

Based upon that math, I will soon be a billionaire and with said wealth I do all sorts of fucked up shit. Can it last forever? I’d like to imagine it will. Why would I second guess it?

As we ebb into the final minutes of trade find solace in the fact there is a person out there, such as myself, winning at such extreme levels.

Into the bell, I like Biden plays and biotech.

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I started trading around 4am today. Being a man of distinction and panache, I of course traded out from DOGECOIN last night, via Mrs Fly, and can report back profits. This morning I sold out of everything and locked in 420bps of gains just before stepping back in for even moar.

Bitcoin and all other cryptos are careening to record highs, as well as gold, silver and just about everything else. I booked a 2min day trade in GMBL today for +11%, only to see it run another 15% in seconds after my sale. After I sold LIFE for a 15% gain, it too ran but even greater, up 30% from my sale.

This is the life of a top shelf day trader extraordinaire, profits are but a foregone conclusion. The only challenge is knowing when to pull the trigger and how much profit to extract from the masses.

I’m presently in hunt mode, 45% cash, intent on being all in by the close.

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Happy Super Bowl Sunday 2021 — Dogecoin Edition

Lots of movement in DOGECOIN today, presently trading above 8 cents. Mrs. Fly and my son are long and envision it going to 10 cents, all the while every other real crypto gets wrecked. This is all thanks, in large part, of Elon Musk — who keep tweeting about it. His pervasivness has turned this meme coin into an even greater meme and it’s now valued at more than $12b.

Meanwhile, Super Bowl Sunday 2021 is here and I am treating it as a national holiday here — cooking wings, beefed stew, mashed potatoes, guac, hoagies, an assortment of cheeses and dried meats and of course copious amount of Red Breast Irish whiskey. America’s champion, the goat, Tom Brady presides of the Chiefs in what is sure to be one of the greatest foolsball tales ever told.

I have no market insight for you other than to strongly suggest booking gains in DOGE before the superbowl has ended. Rumor has it that Elon took out a Super Bowl ad to hype it. I don’t think he’s that crazy, although I could be wrong.

Enjoy the festivities.

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As the Nasdaq Approaches $14k, I am Once Again All In

I don’t give a shit if I lose money on Monday, so I assembled the biggest piece of shit stocks I could find — all rippers — and I bought them for Monday surprise! Will I bog myself down 10% or up 10%? Only time will tell. I am +87% YTD and do not have any fear that it is even possible I could undergo a drawdown, of even a single day.

Today I traded up to +400bps and then fucked myself after taking the dogs for a walk — entreated to a -27% raping in AMBO. I had to book the loss — since the stock comically collapsed on me. Now had it been a large position, a trade like that might’ve ruined my year. Trust me when I insist and tell you — keep your positions sizes at 5%.

In the end, everyone gets that they deserve — and I deserve great magnificent things. There are maybe 10 of me in the whole world and we deserve to win on a continuous basis.

Have a great weekend and remember to thank the Gods for our large bounty and fortune.

I am 97% long and eager to remember how it felt to lose a little.

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House Fly Undergoes a Most Unfortunate Event

For those who read me for a long time know that I barely sleep. I sustain myself on 2-3hrs rest per night, as I enjoy the night owl life and all that comes with it. Yesterday I ventured off to buy myself a new HORSE HAIR mattress — because this memory foam shit I have now is utterly ridiculous and is killing me. While at the store, I ventured upon a nice pillow and I bought it. Last night I went to sleep on said pillow and it was so comfy — it caused me to oversleep. In the pre-market I was up 5% and because of this fucking pillow — when I awoke at 10am, I was barely up 75bps.

The thing to do in circumstances like this is to sell everything, so I did. I locked in the gains, punched my pillow in the face, and continued to jog on with the intent of getting it all back.

As of now, after a series of brilliant buys, I am +3% for the session. For the year, my gains exceed 85%.

Those are my gains in comparison to my other long term account — not even close eh? How am I doing it? I day trade very often, 50+ trades per day, and never hold onto losers. I will often cull anything that is down and I rarely hold stocks longer than a few days. I take gains just as fast and really depend upon Stocklabs to give me volume breakouts (it’s coming soon, I promise). My position sizes are always 5% and I rarely fully invest. My trades are constant and I am always moving. This process is highlighted in our live trading room in real time, Exodus. I am not the only one crushing and some are doing better than me. However, when this shit-show ends, and it most certainly will, I can assure you that I will play the downside with effortless sublimity.

I like small cap oil, Chinese burritos, and anything with momentum near session highs right now.

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The Carousel Continues to Whirl, Spitting Money Out Along the Way

Massive speculation in biotech and Chinese burritos were the highlight to today’s tape — also the fading of Chamath and his stupid fucking SPACs, thanks to Hindenburg. Truth is, billionaires can fuck right the hell off (extra Bernie). When I become a billionaire, I will fuck off too.

The unfortunate part about the rally was the unpredictability of the moves, intra-day. Typically the runners continue to run; but today they shot up and faded, which made it difficult to day trade. I took scores of small losses today, which is necessary when trading. I was lucky to awaken to massive winners in AVLX (+77%) and SKLZ (+24%) and I pretty much did my best to squander that throughout the session. I ended up 365bps, left with 15% cash — long a pastiche of degenerate vagrant homeless man stocks which looks more like a cry for help than a plan to make money. Nevertheless, and this goes without saying, the stock Gods favour me.

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Millions of brand new investors were baptized by fire this past two weeks, as the machine on Wall ground them up into chopped meat and grilled them to be eaten by some of the hungriest hedge fund managers around. The idea that a decentralized group of FUCKING MISFITS could form a phalanx and HOLD THE LINE amidst record chicanery is the most laughable thing I’ve seen since TLRY peaked at $300.

Let this sink into your thickened skulls.

No one gives a shit about you, especially not here. When you fail, no one will bail you out — because you’re just not that important. You eat what you can kill and you never trade out of emotions or idealism. Fuck your politics and fuck the mission you think you’re on. The only thing that matters is getting from 1st base to second and then third and then home. Your enemies are ill defined and your friends are non-existent.

Now take your losses and learn from this experience and I don’t ever want to hear from you again, Mr Diamond Hands. And shame on the media and all of the fucked faces who pandered to that group of inexperienced fucked for faces on Reddit.

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