iBankCoin
Joined Jan 27, 2008
7,326 Blog Posts

KILL THE SHORT SELLERS, EVERY LAST ONE

My vacation has ended, and kite surfing is recommended to anyone who has ever wanted to try it. I have much to say, but oh so little time. No, I did not go to Miami, nor do I ever want to go to a bitcoin conference. The social media clips coming out of the conference this past weekend were downright cringe worthy, I even questioned my stance on Bitcoin after witnessing grown men act out worse than cats on Jersey Shore. But, then I remembered one thing: BITCOIN DOES NOT CARE ABOUT ANYONE. So I continue down this journey and humbly stack sats on dips.

Enough about Crypto, no one wants to talk about the blockchain anymore, President Trump even came out with a negative stance on the cryptocurrency. Let’s talk about stocks, and how shorts sellers were steamed rolled in names like $CLOV and the almighty $WISH.

Just as bad as sentiment is for crypto now, this was where sentiment was for stocks in May, the garbage can. Indeed, how the tides have turned in a few short weeks, you can almost feel a momentum title wave coming in hot like a tsunami for stocks.

Bitcoin bottoms and stocks take off right here, right now, or it becomes a complete risk off “Fuck you, YOU’RE DEAD” type of trade. I prefer the former.

Here are your names to watch. They are the golden leads, no Glen Gary. Here are stocks with a very high increasing sort percentage, courtesy of Stocklabs:

CLICK HERE IF YOU LIKE CHARTS AND WANT TO KILL SHORT (Plebs Finviz link)

CLICK HERE IF YOU LIKE REAL TIME ANALYTICS AND THE HELP OF A COMPUTER BRAIN  (Sub required, and if you are one fo the lucky ones to have a subscription to Stocklabs make sure to bookmark and save link to your profile page).

See you guys at 4am ET.

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Time To Go Kite Surfing

Here’s the best explanation of the current state of the market from Robert Chapman. In the video below, Robert explains the best way to play AMC and tells traders it’s time to go Kite Surfing.

He also goes on to say that this is the only profession where a professional can get smoked by a rookie trader. How do you tell someone how to invest after they make 600% going long MEME stocks?

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Indeed, the current state of the market is in disarray, and now we have Elon breaking up with Bitcoin again.

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And, a bonus Tweet from MUSK tonight has traders bidding up the token CUM Rocket (Market is so fucked, LOL):

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Stacking More Sats This Memorial Day Weekend

Another weekend in May is here, and so is another dip in Bitcoin. I’ve added some more sats to my purse here around $34,000. Nothing meaningful, as I am just a humble man out here trying to stack sats on every dip. Some make the mistake of selling Bitcoin, I don’t have that problem. Well, I did one time, but I never made the mistake again.

If we do indeed see some panic selling this weekend, and retest the former lows at $30,000, I believe it will only be for a brief minute. Once stops are triggered from “capitulation weekend”, more coins will likely be accumulated by long term holders. I’m sure market makers are eying those stops as I type, liking their chops to steal more coins, but it won’t be mine.

Caution is warranted however, there are some thin air pockets below $30,000, that could retrace us back to $20,000, the previous bull market highs. If that ever happens though, I’ll be selling my F-150 to acquire more sats.

As you can see from the chart above, the previous cycle gave pause at this very same time, only to catapult us to fresh all-time highs in the 2017 bull cycle. If you go on YouTube or even CT, which stands for Crypto Twitter, you will see outlandish bitcoin price targets of 300-500K before this bull cycle ends in early 2022. While, I do see Bitcoin reaching the same market cap as gold, it just might not be until 2035, the year 99% of all bitcoin mining is complete.

Happy Memorial Day weekend HOLDers! Let’s get it.

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Usual Suspects On Scan

Apparently, Reddit traders came back to the stock market today after an absolute beating in the crypto currency market over the weekend. Lucky, for crypto currency holders, we got a series of tweets from Elon Musk late in the day that helped shoot the price of Bitcoin higher, putting us back near a comfortable $40,000 per coin.

Regardless of tweets, $AMC, $EXPR, & Wall Street Bets are back on scans to start the week:

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Other than meme stocks, how about a real stock? $CLF is likely my favorite setup heading into the week, and I’m looking to buy strength with a stop under Monday’s low:

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Another name I like down here is my former stock of the year candidate, $NVTA. My, oh my, how you have fallen. I guess this is the price you pay when hedge funds are out to kill you, a la $ARKK. Let’s see if we can find our footing here, max stop would be losing $25:

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Another former $ARKK darling which has fallen from grace, $NNDM. This stock trades damn near cash after all the offerings in 2020. 3D printing is back on the scans, and this one is one to watch this week:

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Maybe there is one more squeeze left in $FUBO. The gambling stocks were hot to start the week, let’s watch for a break higher here accompanied by volume:

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If oil begins to squeeze higher, think $MRO. Fresh of the scans today, she looks just about ready to break out of this multi week range:

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If you can get a pullback in $RBLX, I think it’s buyable. My gawd, the market hates moment growth names here, this move speak volumes. Buy the dip to support:

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Fake meat was all over Monday’s scans after @Raul tweeted the ticker (halfway kidding). A move above Monday’s high can get this thing back in motion:

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And, it’s always good to keep some precious metals around in times of uncertainty. $CDE lighting up the scans to start the week, watch for a breakout:

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For a look at Monday’s full scan: CLICK HERE FOR CHARTS

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$IPOE Approved To Merge With SoFi, Ticker Change June 1st.

There is a ton a news circulating my favorite SPAC, $IPOE, at the moment. Currently, the special purpose acquisition company is experiencing a huge change in delta volume and hitting the scans inside stocklabs:

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Indeed, the recent surge has to do with the upcoming merger with SoFi. The merger has officially been approved and the company just gave us a nice flex with the recent earnings release, CLICK HERE. The ticker $IPOE has a heavy percent of shares held short for some reason, and the Reddit boards have taken notice. We were loading $IPOE on the recent dip in preparation for the ticker change on June 1st.

I hold both a long term position in the name, a nice size swing position, as well as some July 15 call options purchased on the cheap.

Anthony Noto, the CEO, is leading a solid charge at SoFI as becoming a new leader in social fintech. He has also gifted us with some alternative crypto coins to trade on his platform, keeping up with trend. The news flow keeps piling up here, I will reman long:

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Cathie Wood Gets Relief, $ARKK Bounces Back Over $100

It has been a rough few weeks for momentum swing traders and anyone trading growth stocks similar to Cathie Wood’s $ARKK fund. Indeed, the hedge funds had it out for Mrs. Wood the past week/month, but the feeling as of last Thursday felt a bit capitulatory. Friday, they let the $ARKK back over $100, but for how long?

The bulls definitely need to show a decisive bounce here or last week’s lows may be in jeopardy. Should we break those lows, expect things to get a little flash crashy as we have heavy volume pockets to fill to the downside:

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Should the bulls make a stand and the market regain it’s footing, here are some beat up Wood names that popped up on Friday’s momentum scan:

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As you can see from the charts throughout this post, the market has been unforgiving. Here are some deep oversold tickers on my radar from Friday’s scan:


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If all else fails and precious metals start to move, specifically silver, watch for the Reddit army to run with $AG. She’s ripe and all over my scans inside Stocklabs:

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Have a good weekend all!

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