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
20,080 Blog Posts

The Secret Crash Continues to Crash

I should’ve heeded the warning of the great polar bear who kept eating me in my nightmares. That feeling of “impending doom” has turned into a reality, as I stare, almost helplessly, at a screen that defies reasoning.

There aren’t any bids in the NASDAQ right now. None.

From AMZN on down, this is a rout and I have no idea when the selling will pause.

Over the past month, the “best stocks” of 2013 have been taken out to the woodshed and executed. There isn’t a better way to describe it. You are looking at how a bubble looks when it pops. The constant selling, the sheer spectacle of the unknown coupled with the unbelievable causes people to freeze up and just watch.

It’s bid less, no hope. Hedge funds, without a doubt, are being liquidated over this secret crash. Over the weekend I will do some digging into who is being hurt the most and try to deduce what stocks might come under further pressure due to forced liquidation.

I envy the day traders, the degenerates who get flat every day, only interested in making enough money to pay the rent. I am losing a fortune here and I truly do hate my job, more than anything else.

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34 comments

  1. matt_bear

    the broad markets are like that brand new hardwood flooring, while the momos are termite invested rotting subfloor.

    truly strange to see the indexes so propped up. where is the money going?

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  2. juice

    Flea, sacrifice a position or two .. partake in the secret crash festivities

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  3. MarshalN

    Fly, I think you’d enjoy this one with Tim Sykes getting exposed

    http://instagram.com/p/mSmZDYTUXy/

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  4. Jeff

    **Initiate emergency ‘take a drive’ mode

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  5. Henry Blodget

    “Tech Bubble” articles get written every day. But this one kept me awake last night:

    http://www.thedailybeast.com/articles/2014/04/02/bubble-trouble-in-silicon-valley.html

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  6. Metalleg

    Manipulation at its finest.

    On the 6 o’clock news, the market recap will state “and the Dow Jones Industrial Average closed down 0.3% to finish the week just off it’s record high. And now, for the weather…”

    The real story will be purposely ignored.

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    • it is showtime

      The real story for the last couple weeks is final-hour-manipulated close making the indices look fine with lot more so called ‘negativity’ underneath

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  7. og

    Thought we capitulated and recoved this morning only to get to work and find this. Freaking deer in headlights mode.

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  8. xxxhuggiebearxxx
    xxxhuggiebearxxx

    Bought more YELP at $67.

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  9. J

    I bought FEZ and sold Euro yesterday. I reckon it’s the trade for the 6 months as the Euroweenies are going to QE.

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  10. J

    If the Euro closes well through 1.3700 today we’re doing much lower next week.

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  11. snoozemr

    so true, to an extent, about us degenerate day traders. LOL. My day has involved buying and selling MJNA 4 times. although intraday makes up about 50% of my trades on average. in terms of my investment portfolio, I would love to catch the bottom of amazon. not going try it today though. thinking about getting in on ZOES pre-IPO. Keeping lots of powder in case I do. just growing wary of IPOs – JC has been blasting them for weeks. Please STFU Jim.

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  12. eagle

    $FDO

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  13. bood

    it’s friday

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  14. bood

    you can buy some puts or inverse3x if you fear a crash

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  15. Flanki

    we need some circuit breakers in the naz

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  16. Metalleg

    Maybe there’s a war coming soon. The rotation is defensive, no?

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    • DirkD

      $PALL $PAL are your war tells. Russia controls most of the world’s supply of Palladium.

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  17. just fell off a cliff...
    just fell off a cliff...

    be nice to just get this over with today… let’s drop about 200 on the nasdaq, flush it out and move on. i promise looking back 6 months from now, we will laugh.

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  18. Honest ABE, nohomo
    Honest ABE, nohomo

    does anyone have any questions for me today?

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  19. Bart Smith

    YELP will close green. I bought 2000 shares at 66.

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  20. Danny1980

    Wow!! Talk about whiplash!! This is the most aggressive emotional roller coaster I’ve ever ridden

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    • it is showtime

      Have kept saying bears will have their day. We will have our day

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  21. Mr. Partridge

    I don’t understand how people can buy this tape…

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  22. Flanki

    According to my “fucktarded” lines..FEYE will probably gap fill around $45.

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  23. crazyfasteddy

    Just this morning I was being ‘schooled’ by a co-worker on how easy stocks are.. just put $300K in some high yield telecom, live like a king for the rest of your days. Taxi drivers handing out stock tips. As per Pete Lynch, shoulda known this signalled the top..

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    • it is showtime

      The whole thing, easy money for banks, (which is what it was primarily built on), is a ‘joke’.

      How this society didn’t learn, after it happened TWICE, recently, that easy money is in the ‘too good to be true’ category, is, absolutely amazing

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  24. widespreadpanik
    widespreadpanik

    Tradable bottom is close at hand into next week. AAPL/TSLA/FEYE are your three bounced signals. Also watch TLT (long bonds) flirt with a TRIPLE TOP above 109ish next week. If it is indeed the triple for rates, watch tech/growth rip the tits off these new FEYE/SCTY bears.

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