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
23,417 Blog Posts

CANCEL ALL ORDERS

We are about to go negative, reversing a 400 point move.

Here are some scenarios that might play out.

We close at the lows and everyone blows their brains out tonight. Then, after you’re dead, China rallies 10% tonight and we re-rip higher by 400 tomorrow.

Or, China tanks again and we dive into the blackest and hottest areas of hell tomorrow, reversing any semblance of decency and decorum, retesting the lows from yesterday, down 500.

Or, Asian trade is unremarkable and we sort of trend sideways for the next week or two before moving higher.

Like I pointed out in a blog in Exodus today, a V shaped recovery isn’t in the cards, based upon previous algorithmic readings.

I am still 55% cash and only bought back some GG today, thinking gold might reassert itself as a safe haven. Truth be told, the more I look at the facts, the more I believe we are entering a long, painful, period of market action, aka a bear market.

 

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47 comments

  1. alf44

    .

    ROCK … PAPER … SCISSORS !!!

    .

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  2. bensteinsmoney

    Primary Wave4 downside = 1830-1870 SPX

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  3. xxxhuggiebearxxx
    xxxhuggiebearxxx

    This is a disaster.

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  4. gappingandyapping
    gappingandyapping

    That guy in the video is a complete cock sucking faggot.

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  5. bood

    it seems 14000 DJ is inevitable

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    • bood

      took less then a week to wipe 2000points on DJ , it’s just another 1500

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  6. joyous__ending

    Some financial entity, somewhere in the world is melting down.
    Until it is identified and euthanized, no bottom possible.

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    • bood

      it’s just big bad bank selling + shorting

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    • it is showtime

      Oh and: (sarcastic) that’s not what bears said would happen, bullshit ever-increasing global equities wouldn’t result in systematic failure somewhere

      get your heads out of your asses, bulls, your game is being proved for everything it ever was

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  7. traderconfessions
    traderconfessions

    Even though I assumed the market would sucker punch those jumping in this morning I’m still shaking my head. I have three stocks in the green and under normal circumstances I would add. But not today. Fuck the market gods.

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  8. alf44

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    This quite a little Stocked Market we got here !

    Just about the craziest shit I’ve seen in a while ! Oh wait … yesterday was pretty damn crazy too !

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  9. it is showtime

    oops

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  10. og

    well NFLX held up?

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  11. badduck

    Please tell me that screaming dude died of a heart attack at the end of that video.

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  12. Steve

    typical bear market action

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  13. sloop

    “Truth be told, the more I look at the facts, the more I believe we are entering a long, painful, period of market action, aka a bear market.” CAN I GET a …..”Hey Sloop! you called it right”

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  14. BlueStar: Contrarian Investor
    BlueStar: Contrarian Investor

    Welcome good Sir to the bear camp! good to have you aboard. Just so you know yesterday was like 10/24/1929. Huge gap down then reversal up on volume. Today was actually worse than 10/25/1929. The chance that we crash 20-25% by Friday are greater than zero and that should cause a brown stain in your pants right now.

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  15. sloop

    BlueStar whats your guess on the bottom? or do we trade down all the way through October?

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    • BlueStar: Contrarian Investor
      BlueStar: Contrarian Investor

      I don’t know but the timing band for the next intermediate low is October Novemeber.

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  16. sloop

    “Your comment is awaiting moderation” Why is this? I never say anything that is an insult or demeaning to others.

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  17. mx2101

    I believe the video is Ben Lichtenstien.

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    • gravestonedoji

      Agree…Ben Lichtenstein. A classic, sounds like a cross between calling a horse race and the Hindenburg tragedy.

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      • gravestonedoji

        I meant his Flash Crash audio…comical stuff for a stocked market.

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  18. Po Pimp

    I wish you fuckers would quit trying to shake me out.

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  19. sloop

    Alf, the best thing you can do now for all mankind is VOTE FOR TRUMP BABY!!

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  20. Dr. Fly

    Tune into a special ibankcoin “Count Dracula” edition tonight, presiding over China’s demise, at midnight, est

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    • braveflaps

      It should be your highest show ever.

      Communist Partied Fucks!

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  21. fryguy15

    CNBC said the last hour was retail! Ba! They have truly become a puppet show

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    • Quality Control Inferno
      Quality Control Inferno

      CNBC today was the worst I’ve ever seen it. It was borderline financial media malpratice. I never saw one person on there all day even mention the possibility of another 15-20% leg down other than Grasso. They brought on “expert” after “expert” to tell the masses that all is well and to buy the dip. I had this shit on in the background all day other than when I went to grab a sandwich.

      CNBC needs to provide better quality analysis than that to all 4 of their viewers.

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  22. xxxhuggiebearxxx
    xxxhuggiebearxxx

    HUGGIE BEAR IS DEAD….DOWN GOES HUGGIEBEAR.

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  23. narwhal

    That’s the best live trading video ever. That man lives life to the fullest, trading by day and collecting carnival tickets by night.

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  24. Bullish

    Hi Fly! Buy everything!!

    I’ve missed you dearly… I’ll be tuning in more often to read your commentary.

    Your long lost pal,
    Bullish

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