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
19,909 Blog Posts

Let’s Assess the Current Situation, Shall We?

Apple and Netflix, two vital components of the tech growth narrative, are under siege.

Valeant Pharmaceuticals, and similar aggressive drug caitiffs, is death spiraling towards oblivion.

Retail is in tatters, complete fucked from crown to foot.

The banks are a joke, hamstrung by onerous regulators and shrinking margins.

The sole bastion of hope, and cocaine fueled joviality, can be found in the oil patch.

With crude angering its way higher, a great merriment will sweep the nation. People will rejoice in higher fuel and power generation expenses, while stockpiling  copper tubing.

With oil going higher, industrials seem to work too. They’re interconnected.

In summary, to be long this market with any semblance of confidence, you must pray to the ghost of John D. Rockefeller, hoping that he can provide succor to the price of crude from Elysium. If crude fails here, the market is going straight down like swill in a sieve.

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12 comments

  1. trumpmeister

    I’m actually rooting for crude to go higher in order to destroy the US consumers and render the FED useless. Yellen isn’t going to do QE or lower fed rate with crude over $70 while the economy is done.

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  2. mad marsupial

    Nothing like the possibility of a recession in an election year. Operation Twist anyone?

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  3. stockslueth

    Meanwhile, the Fed is planning for a June interest rate hike. It’s going to be great.

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    • trumpmeister

      Doubt it. It’s all bs.

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      • frog

        Yes, jawboning about hiking rates is the new hiking rates.

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      • stockslueth

        I’m quite confident it will happen because it’s precisely the wrong thing to do.

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  4. hftongue

    I thought we would slowly trickle to the downside, but the large drops in retail has me surprised on how much consumers are holding back.

    Only solution is to cut taxes. We need another GWB style payroll tax cut.

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  5. Marc David

    We need diversity in the FED now! #FedSoWhite

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  6. it is showtime
    it is showtime

    These phantom rebounds occur because they’re using Vix, easily using Vix, as one of a Few conjectured tools in manipulation. Problem is, [for them], getting harder to stuff that thing down at low 14. One of your primary manipulation tools is Not gonna keep working as effectively forever, schmucks. You are losing. I am outlasting you.

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  7. 99 lead balloons
    99 lead balloons

    Seems like gold is the play? $1400 next level… Triples already this year and getting greedy.

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