I watched you smug bastards on the teevee declare “the bottom is in” to “head back into the shark infested waters” because the sharks like people who bought dips. Had I taken your advice, I’d be strewn across the pavement with vultures picking away at my carcass.
It’s not that simple. Bottoming out is a process and to buy this afternoon was the equivalent of buying into an 800 point melt up. No thanks.
Now we descend into hell because that’s where China resides. We gave up our country a long time ago and transferred it to China. We enjoyed the frugality of cheap labor and goods. Now that cost savings will wreak havoc upon this nation for generations to come.
But don’t worry. The central bankers are owned, lock, stock and barrel. The syndicate of global oligarchs will pressure them to act, in order to reflate things again. You’ll have another shot at liquidating at reasonable levels, another shot at “playing the bounce”–because that’s what we are: “players” in a sordid game.
We’ve replaced human beings (cost savings) with the ability to think and react rationally to outsized moves for computers, prone to break and bust loose Armageddon on the capital markets every 5 years or so. We are reaping the seeds that we’ve sowed. I know this sounds awfully dramatic and the markets aren’t even down 15% from their highs. But we have 19 trillion in debt and the majority of our industrial output is done outside of our borders, exposed to fucked currency moves and the caprices of maniacal governments.
Regarding the markets: look towards China and Hong Kong this evening for signs of encouragement and get those handy-dandy (extra Blue’s Clues) buylists ready for a possible opening cascade tomorrow morning.
I closed the session with over 60% cash and I still got my brains blown out.
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Isn’t it way oversold ?
No such thing in crash mode.
You sound like The Donald.
How do you know I am not him?
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Can’t imagine YOU with THAT hair !
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Flys bald?
yes Fly has shaved head.
Purely for sanitation reasons while performing surgery
of course!!
This week looks like it could be similar to the Black Monday week.
https://www.youtube.com/watch?v=b-Hgd5gHWbA
Indeud……..we have come to a sad place when we resign ourselves to seeing what China does overnight.
Masters of the Universe?……….We are no longer He-man against China’s Skeletor……
China probably falls another 6.5% to support and then starts bouncing because of China rate cuts, SPY opens at $186.02 and proceeds to bounce up to 197.48.
I say this because they were large block trades throughout the day.
This is their design.
Or you could flip it. Watch those numbers tomorrow though. It’s stupid, lol. I kick myself in the ass for not keeping them right in front of me to remember them as very high % resistance and support intraday… hmm.
Haha if -6.5% was the max drop for it today I’m buying some lotto. (Then again 3000 was pretty obv support)
Skeletor is one ugly mutha whose flat screens we no longer need. What else they got to sell? I say nothing of which we want, and very little of which we need.
Fuck Skeletor, I say, and all 15 of his corrupt castle friends trying to keep a lid on the monster they created.
“We gave up our country a long time ago and transferred it to China. We enjoyed the frugality of cheap labor and goods. Now that cost savings will wreak havoc upon this nation for generations to come.”
” I know this sounds awfully dramatic and the markets aren’t even down 15% from their highs. But we have 19 trillion in debt and the majority of our industrial output is done outside of our borders, exposed to fucked currency moves and the caprices of maniacal governments.”
And there you have it in a nutshell.
Tomorrow the wheels come off in China.
The good news is that Jim Chanos is now at break even for the year.
The syndicate of global oligarchs will pressure them to act, in order to reflate things again. You’ll have another shot at liquidating at reasonable levels, another shot at “playing the bounce”–because that’s what we are: “players” in a sordid game.
Beautiful prose articulating the trader’s condition.
I hate that this sell-off has been so violent. That leads to violent swings back up, which ruins my planned UVXY trade. Had to exit tonight
It’s time to put $$ to work. Period.
Fear Greed at 3.Maybe the masses are right this time.
a perfect release of sarcasm and despair to mark such a day; excellent post fly