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
20,579 Blog Posts

Encouraging Tape — But Losing Money Thus Far

The day is young, but I like what I see. The breadth is more or less at 50% — both Dow and Nasdaq sharply higher. Commodities are dead — and I closed out my hedges for small losses. Still, I am off by about 1% this morning, thanks in large part of a pastiche of stocks not doing much of anything but trade lower. But I like my chances catching a seam today — because it’s Friday and because God has designated me as his go to money making machine on this flat flat planet.

In the event I am wrong, I suspects I could lose up to 3% today, given the shit that I own. But let’s not think about that and instead focus on the fact that I am 50% cash, with 100% of my balls intact.

Lots of momo stocks are getting hit and it looks like a giant raping out there. Nevertheless, I remain stoically optimistic!

Comments »

Markets Crash into 9/11 Remembrance

The day everything changed in the simulation and America transformed into a big fat retarded country filled with fucked faces is tomorrow — 19 years since the crime of the century. And to that end, markets PLUNGED 400 after opening up cock-strong.

Le Fly vacillated betwixt positions all day — trading his way into a stalemate, in order to preserve his gains. I was up 2.5% at the peak and ended up 1.65%.

My trades.

OSTK +14.7% x2
EXK +5%
DRIP +2.7%
DMYT +6.1%
YELP – wash
(PING -2.2%)
NOVA wash
JMIA +1%
ICLK wash
DDOG +1.6%
BLNK +0.4%
(BE -1.75%)
(FEAC -4%)
(RXT -4%)
(DPHC -4.8%)
WTRH +8%
(VISL -5.7%)
CODX +9.3%
AGEN +5.3%
CEMI +3.1%
ERY +4%
(MRNS -3%)
(UPWK -1.9%)

I closed the session hedged with inverse ETFs and some runners, 40% cash. I suspect markets will want to tank soon — really go lower in order to apply the blade to TikTok investors. In case you’re curious, this is your typical TikTok investor.

Fuck these people.

Comments »

Markets Churning — Be Mindful of Your Positions

This is where you get off the ride. It was a nice run — but the professionals will take it from here. Junior at the trading turret is back to fetching lattes for the PMs and you, Sir, are back to reading blogs about people with seemingly unreal super powers when trading.

I will have you know, as markets flatline and churn fuckers into fatty butter, Le Fly stands before you at SESSION HIGHS. How did a man, such as myself, achieve this great feat? Simple: I adapted to the winds. Do not try this at home — for you are more apt to blow yourselves up and zero the accounts out. You watch, and join Exodus, and you sit down and eat fish.

I am the fisherman. Sometimes the seas are choppy and I catch carp and it ends up biting off one of the arms of the weaker members on the fishing yacht. But lo and behold, you give me a market like this and BAM! +250BPS for the day.

I am not done.

It’s been a busy day.

OSTK +14.7% x2
EXK +5%
DRIP +2.7%
DMYT +6.1%
YELP – wash
(PING -2.2%)
NOVA wash
JMIA +1%
ICLK wash
DDOG +1.6%
BLNK +0.4%
(BE -1.75%)
(FEAC -4%)
(RXT -4%)
(DPHC -4.8%)
WTRH +8%
(VISL -5.7%)
CODX +9.3%

I sense a turn here. We are seeing money slosh into COVID-19 virus plays and there is a pervasive weakness in the tape that feels and looks like a trap. Be careful out there — for it will get worse before it gets better.

Comments »

THE BET PAID OFF; THE FLY IS VICTORIOUS

It wasn’t hard to do, for me. I simply envisioned where I wanted the stock to be and it would be so. Today I sold out of my oversized $OSTK position — not because I hated the stock — but because profits must be harvested. In this market, you are only as good as your last trade and if you’re not trading — you are not training.

The results so far.

OSTK +14.7% x2
EXK +5%
DRIP +2.7%

Markets are blasting off again, albeit on weak breadth. Nevertheless, this is precisely the sort of tape I wanted — the day after squeeze — the long stare into the souls of your enemies making them quake with fear.

Both my Quant and trading are up more than 220bps today. So far, a good day — but anything can happen.

Watch crude for leadership to the downside. Cryptos are back in play, and SPACs, well, are what everyone wants these days.

Comments »

THE GAMMA SQUEEZE IS BACK ON

This is so fucking stupid. I can’t even lie convincingly enough to talk myself into finding reasons to love stocks here. I fucking hate stocks here and want them lower, by about 90%. Sure, it was fun on the way up, but elevators are fun too, especially when the cables snap and the car freefalls to a splat.

THERE IS NO JUSTIFICATION FOR ZM TRADING AT 85X SALES.

I am whining now and even thought I hate stocks, I am a servant to the trends. Everything I am buying is rich with ABSURDITY and although I lost 0.8% trading on my own accord in a market that wielded a 700 move unto unsuspecting morons, I managed to make money nonetheless. This is a sad tale for you, but one often told in these halls and shall repeat until the end of time. The Fly wins again, even while losing. His quantitative fund soared 3.7%, which houses half his money.

The band plays on, spearheaded by the clowns caked in cosmetics — a fanciful affair of liars and thieves. It will soon end and you will be relieved to find the facade lifted and the gruesomeness of what you permitted to occur laid bare for all to see and endure.

Until then, 75% long, 100% willing participant.

Comments »

Change Your Sentiment; Markets Want Higher

Yesterday we were mired in the worst economy since the Great Depression. Today everything is ideal. Stocks are higher by 700 and nothing can stop it. However, breadth is fat and weak and I have tried and failed to produce intra day trades of any varying success, mired in a 0.9% decline. Luckily for me, the Quant is +3.5% and has made today profitable, albeit at the expense of 10% losses since the month began.

We are, undoubtedly, in an odd market, where breadth is narrow, but momentum is infectious and pervasive. Retail participation is at decades high and TikTok investors are leading us towards a grim ending. Before that happens, however, I expect even more depravity and wanton chicanery.

I have 40% cash and I am interested in going all in before the end of the day. Why the fuck not? Who is going to stop me?

On an unrelated note, my local tailor turned my $150 pants into fucking high waters and I am going to kill her now.

Comments »

WE’VE BOTTOMED!

Congratulations to all of those who had the eternal fortitude to hold tight during that two day bear raid. As you can see, the Dow is +400, NASDAQ +200, and it’s all over now. The misery and the pain of being in anguish has dissipated and replaced with an acute sense of greed.

I had been long inverse ETF products — and luckily got out with my account at breakeven for the day — thanks to various longs.

The results so far.

SDC +6.4%
(SQQQ -2.7%) x2
FNGD -3.8%

I am now in the process of fishing in the sewer for runners. I’ve seen this sort of tape before and it’s trickery is permitting you to believe it cannot last. WRONG. It shall last the entire day. Anyone who bets against it gets shot.

Breadth is steadily unticking from 55% to 67% and you should expect a slow melt up throughout the day, pressing the faces of shorts onto a very hot griddle.

Comments »

“The Fly” Is Winning While Losing Again

The most important thing a person can have, especially a trader, is confidence. Today exemplified my magnificence, coming off a ‘Miracle Session‘ on Friday — where I turned lemons into lemonade and erased a 600BPS deficit.

Today is no different, only such that I needed to maintain my gains instead of making anything back. I came out of the gates running with a +13% winner in SQQQ. I then and quickly went on a trading tangent, yielding a net positive result — but a dreadful slog of trend reversals. The main goal by 3pm was to preserve my gains, which has been 200bps. I hedged with inverse ETFs and then added to them with conviction as the market waned.

I then took some overnight longs just in case — but my position is net short and I ended up 0.75%.

My trades.

SQQQ +13.3%
(SVXY -3.6%)
WORX +9.6%
CODX +16.8%
SABR +1.7%
SPCE +3.2%
MIK +0.4%
(LITE -2.9%)
(GSX -3.4%)
BLNK +7.8%
(APRN -2.9%)
(SPAQ -1.3%)
(OPK -1.2%)
(GMHI -0.6%)
UBER – wash
APT +0.15%
LCA +0.75%
WORK +1.65%
(CLSK -3.4%)

Sounds great, right?

WRONG.

Because I reimplemented my Quant on the first of September, I have been getting my ass hammered, as it is a market perform allocation of some of the ‘best’ stocks in the world. It fell by 3.5% today and is OFF by more than 13% for the month. I cannot stress this enough when I say — losing money in a quant model feels so much better than when I do it myself. I know the money is the same and my wife certainly won’t appreciate being driven to the poorhouse in an antiseptic quantitative fashion. But I still feel good. That has to count for something.

We are in the midst of a dreadful rout and although I’d like to tell you, for the sake of my fucking quant, all is going to be well — I cannot. The air has come out from the FAANG trade and Tesla is finished — off by 20% alone today — because it wasn’t added to the S&P 500. Whatever.

Truth is, there is a reckoning coming and it’s all because of you — the faggot TikTok investor who trades thru Robinhood. You sirs are scourge and shall be cleansed from this pallet, cast far away from the gentleman market and into something more of an abyss. The Davey Day Traders of the world are limited. Enjoy them now, for soon, they will will transmorph into fucking skeletal dinosaurs to gawk at and show your kids where once a moron lived.

Comments »

PREPARE FOR ANOTHER LEG LOWER

I changed my mind. I am still allowed to do that in this country, am I not?

The decline in oil is deleterious. The plunge in Tesla and other leadership names is obvious. Softbank and their cohorts are finished. Now the only thing we can offer them is the black flag.

I traded like a magician this morning. My results.

SQQQ +13.3%
(SVXY -3.6%)
WORX +9.6%
CODX +16.8%
SABR +1.7%
SPCE +3.2%
MIK +0.4%
(LITE -2.9%)
(GSX -3.4%)

See pal, there is a difference between a person like you, and a person — such as myself. I aim to maim and then kill, while you only aim to avoid conflict. I am now calling for a RESUMPTION of the leg down. I am not positioned for it, however, and have 1 hedge and 30% long exposure. I will wait until the later hours to double and triple up my bets. I do of course reserve the right to change my mind again, as this is a fluid situation. I might also continue to trade throughout the day, taking money from mom and pops and using it for my champagne collection.

Comments »

Lows Retested — That Might Be It

I stepped into today 65% cash, hedged with SQQQ. I sold it today, like a man, for a 13.3% profit. It’s important that you know this and how much I want markets to dive. However, we retested the lows from Friday, having plunged 400 NASDAQS at the open and it’s entirely possible that is all we will see…for now.

The temptation to sell short is palpable, but SPACs and bullshit stocks are running again.

I will be taking on some long bets here, hoping for a rally. If we fail and markets weaken, I will bet heavily against oil.

Comments »