Equities: Pray For The Fly, He Appears To Have Lost His Mind

Or Prey on,
Some nice money can be made off the madness of others.
Your call.

One of the things they teach you in junior trader school is: don't double down, double up.

Another lesson is: Do Not Be The Black Knight!!!

Monty Python Does Finance  

                            Black Knight:    "It's just a flesh wound!" 

 

                             King Arthur:      "Look, you stupid bastard, you've got no arms left!"

         Black Knight:    I am invincible! 

          King Arthur:    You're a loony!  

        Black Knight:     The Black Knights always triumph!

From The Fly at iBankCoin:

TRANSFIXED BY $NIO — AVERAGED DOWN AND GAMBLED MORE

I was going to either sell it or double down, so I decided to buy more. The notion of buying this is painful, especially since it was down 20% today. But, this sort of action has preceded many a rallies. Once the sellers get flushed the fuck out and the weak hands have been executed, the stock can run in the wind, naked, cock out — strong.

My basis is $11.40. Should I end up with a mammoth victory here, I will once again declare myself to be the greatest trader alive.