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I see the market is down just a little bit. But, once again, there is an indescribable evil in this tape, one that I haven’t seen in some time. Naturally, I had foreseen such an event and raised some cash, made COST my largest holding. But even I can’t escape the horrors of this grinder. With positions in SHAK, TWTR and XON, I am not enjoying today’s tape.
A lot of people compare today to 1998. That’s great. The only problem with 1998, for those who traded it, is that it sucked. I lost my first stockbroker job in ’98, being an early investor in internet stocks. No one liked internet stocks back then and I got hammered into pieces. I wrote about my life story in three parts, here.
The Fed is most likely interested in bankrupting some bad actors with their rate hikes. I see no other reason why they’d be so foolish as to tighten now, during the most fucked up part of this little recovery we find ourselves in. Tread carefully and remember that 1998 was not as cool as the charts said they were. It was 1999 that kicked ass, made short sellers regret the day their idiot Fathers took Mom to the movies.If you enjoy the content at iBankCoin, please follow us on Twitter