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
22,571 Blog Posts

SHITCAPS SURGE

I don’t have much to say and really didn’t feel like blogging this morning; but I have a job to do and one of those jobs is to come here to toil each and every day.

The market is being led by SHITCAPS and SHITCOINS, the more obscene the better. TSLA is busting loose and that angers me because I have a long term accumulation plan and I’ve only bought a little so far. I was wishing for lower prices to buy more but you permanent bulls had to ruin it.

The action is bullish and it feeeels good. But feelings change and everyone falls out of love eventually. This is NOT the bottom.

Nevertheless, I’ll allocate 100% to the long side after 12:30pm today, as I always do on the first trading day of every week. I’m up just 21bps so far today — but that’s alright and I really don’t compare my gains to anything else. I’m content being up nearly 6% for the month. Why wouldn’t I be?

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The Dollar is the Enemy of Stocks

It should amuse you to learn that when the dollar is in highest demand — the economic system breaks down. Asset classes perform best in a WEAK DOLLAR environ, whereby globalist scum are able to manufacture abroad and bring items back in American for the slave-cattle to consume. The forex advantage is readily visible on all corporate balance sheets during periods of dollar decline. The very best case scenario would see the dollar lower by another 25% to the Euro — which would almost assuredly mean the market would rise by 50%.

Due to the pivot concept at the Fed, the dollar bottomed in November. Below is a series of charts, which all make sense except for the fact that the Russell and the NASDAQ (which is not featured here) have greatly underperformed all things considered. It’s also worth noting the weakness in crude — which is likely more to do with Russian Ural crude selling at a $30 discount to Brent — flooding world markets to support their war.

If I didn’t have a brain and only looked at charts, like all technical analysts function (without brains), I’d argue stocks need to catch up to other asset classes and that the dollar is heading even lower. The dollar is down 9% over the past 3 months, so fuck off with your dreams of vacationing in Europe for cheap.

Dollar

Bitcoin

Gold

Treasuries

Russell 2000

Crude

Stocklabs Pennies Index

Stocklabs Terracap Index

Copper

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Current Market Has Glimmers of 2001

The SMH is up 11% month to date, wiping out the -10.5% loss is took in December 2022. We are all hooked, sold even, on the idea of soft landing. Back in 2001, I recall with great vividness feeling the same in January of the year, which presided over a gain in the SMH of +20%.


Those are the gains in January for SMH dating back to 2000, courtesy of Stocklabs. This year’s returns, as you can fucking see, are the biggest since 2001. We are all happy and boastful, cruel to the bears — hitting them with socks filled with flour.

But guess what happened in Feb of 2001? Fucking guess.

The SMH plunged by 29%. Later on that year the Federal government destroyed the World Trade Center and made it look like some Saudi Arabians did it in order to start wars and empty the treasury for the next 20+ years and by then the market was completely cooked until 2003.

Bottom Line: I’m gonna close out my positions come Tuesday, which is a reallocation day for me anyways. But I’m gonna close out the leverage and the extra stuff, and really consider some heavy hedges. I don’t see how the market could extend too much more for January and I’m very skeptical of what THEY might do in the Ukraine, as the war inevitably turns in favor of the land power there and threatens to displace our dominance on a global stage.

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FOMO

Big rally in shit stocks today kept me busy trading nonsense for a gain of +132bps. I had gains of 1.75% and then lost a little in errant late day trades — but ended the session just fine and also with 125% leveraged LONG book into the long blackened weekend.

I will have you know, the market looks very bottomish — giving me feeeeeelings I experienced during the COVID lows. Although I am reticent to admit Jim Biden successfully navigated a soft landing, that is the thought process to close the week.

Stocks are up roughly 8% for the year and most recently the gains are concentrated in heavily shorted/most down names. Whilst some believe this action occurs near the end of the rally, I’d like to remind people that froth also occurs during bottoms — as people scramble to sop up stocks they thought were barreling for zero.

My opinions are subject to change based on real time events. But for now, I am extremely bullish.

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SHIT FLOATS TO THE TOP

Overall, the market is middling today. We were supposed to tank based off the JPM words — which hurt the soft landing crew. Nevertheless, we went straight up since the open and the gains are heavily concentrated in small caps.

Have a look at the gains intraday by market cap.

All of the shit is rocketing now, especially names with big short positions in them. I have made it a point to apply leverage to my account in order to capture some of this lightening and have gains presently of +130bps. I am not, however, content, and feel almost like I am down for the day. I just pressed another hedge on top of my portfolio of shit, which is like attempting to stop a boat from sinking from a torpedo strike by taping the gaping hole with masking tape.

It’s very possible the market will REWARD me, since I am a good person and I do deserve to be treated fairly. But you never can tell if the market is going up or down.

Bottom line: I am up more than 6% for the week and have room to gamble here, and will do so, as it is my custom to press gains and act foolish in the face of horrifying reversals.

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TIME TO GAMMA SQUEEZE

The mood is correct for a nice GAMMA SQUEEZE, coupled and accompanied by the retards piling back into stocks by way of FOMO.

I will not sully this blog with words, for I have now moved and transcended beyond them. “The Fly” stands above you with sword in hand, severed head in the other — victorious in his dealings with the market. I gained +328bps today in frantic trading and ended the session 130% LEVERAGED LONG. I took a basket of trash stocks into the close and I will give them to you now, based solely out of generosity and kindness of my blackened heart.

FUBO
PLBY
REAL
VRM
MTTR
JMIA

Those are the very worst stocks a man could buy, let alone own. I have made it a point to extract maximum levels of milk whilst possible and fully intend to extend my cock into the morning rip tomorrow — but will of course pull out just in time for the eventual collapse.

GOOD DAY

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THE SOFT LANDING NARRATIVE IS HERE: EVERYTHING IS PERFECT

If per chance you missed out on this rally, you are trading emotionally and should be banned from accessing your brokerage accounts. I recognized a deep ugliness in myself several months ago and about a month ago took action — AGAINST MYSELF — to concoct a scheme that would relegate me into the 100% long camp. I know this sounds insane for someone who goes online every day and calls for “the end of western finance as we know it.” But that is exactly what I did — because I knew the tricksters would eventually win, pull rabbits out from their assholes, and all would go up again as if nothing had ever happened.

Well well well. Here we are STEAMING higher once again on news that the Fed is only going to twist their little knives in us a bit more before taking it out and seeing us bleed out on the ground. I am +250bps today, in spite of my candid belief that markets should in fact trade lower by 100%.

About mid morning I applied a 15% hedge via SQQQ and am down 3% on it and yet my gains are still bountiful.

The reason for all this is simple. I am a professional investor who understands how to comport himself in various tapes and places. I am mature enough, seasoned even, to understand when my feeeeeeelings are irrelevant and when my instincts might prove to be profoundly life saving. Indeud.

I am now +3.1% for the year, averaged a return of +191% since 2020.

This account was launched live inside Stocklabs at $100k back in 2020.

Markets have surged. Rates have collapsed. Nothing can stop the new bull.

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CPI AS EXPECTED: MARKETS COLLAPSE

Good morning

The CPI came in as expected, 6.5%, which led to an initial spike in futures — especially after Fed’s Harker said they’d pause after hiking to 5%. Presently, they guiding rates to match inflation, so the expectation is for the CPI to moderate further during 2023.

Markets don’t seem to give a flying fuck. The NASDAQ has reversed lower, now off by 112.

What’s important to note is the disappointment in the faces of the permanent bulls, truly priceless.

As for me, I bulked up on SOXS, then SQQQ to hedge against pain and quickly closed them out. I’m now hedgeless and not in Seattle, up 34bps for the day.

My algo account is +4%, all in short via SQQQ predicated on the overbought signal that has typically led to sharp reversals lower.

My sense is for moderate pain here, with a potential for a rout. I will be monitoring the market closely and will hedge again if it looks like we are heading for another leg lower.

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I WANT TO BELIEVE

Everyone is having fun but me. I chose to be a bastard bear, always with the hedges — missing out on all the fun. It seems, and this is just my FOMO speaking, everything about this market is perfect. Oil and gas are moderate, materials soaring, stocks soaring, and rates are going down.

The CPI numbers loom and it’s clear to me there will be no pivot, not now not ever. Nevertheless, we want to believe. I want to believe in American appled pie, a period in time when the trannies are gone and we have nothing but baseball and cracker jacks. It also seems I have golden aged thinking caused by FOMO. Ergo, I have a very bullish position heading into tomorrow.

I made just 32bps today, mostly because I am a GIGANTIC FAGGOT who likes to miss out on rallies. Nevertheless, I will get my act together and start trading great again, as I always do and customary of a man in my position and stature.

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SHORT SQUEEZE NEXT

The ball of the bears are now inside of a vise being squeezed tight. The idea of a rally sprang upon them like a Jack in the Box armed with a dagger and now with the market busting loose from every single aspect of asset class — it would seem appropriate to position into stocks heavily bear’d up in order to kill them.

I traded out of UPST for a 5.5% gain — but that one is still good. In addition to my normal holdings, I took half positions in a number of heavily shorted stocks, truly hated names, for the absurdity of the rally to come.

It seems, and this is most unfortunate to me, the bear case is dwindling fast. I have all but given away my gains in 2023 in inverse triple fuck you you’re dead ETFs in a valid attempt to stop America. But I have failed with that venture and must come to grips with the idea of trannies trading inside of heavily shorted stocks and winning and then said trannies heading on over to the Wall Street bull statue to cut its balls off and make it one of their own.

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