Well, the Trump administration kept bragging about the stock market successes, now they’re gonna have to fall victim to the odious true nature of it — a wild unkept beast whose only goal is to eat the testicles of those playing inside of it.
The rare air of tumult is abundant today — with the Dow Jones falling by more than 240 and the fag-heavy Nasdaq off by 110. It’s a good thing $SNAP was afforded the opportunity to come public and get liquid on all of the middle aged men who wanted to be a part of the social fabric that is shill-heavy Americana. These are the culture wars, after all. You’re either one of them, or everyone else. The good news is, there’s time left to jump over the transom and back into reality — far away from the vainglorious bedlamites who hover over us like ravenous vultures — and into the less servile quarters.
Bitcoins were higher by 6%, gold nearly 1% and everything else sharply lower.
Major losses were invariably big in almost every sector — especially banking, biotech and basic resources. Standouts included $HCLP, $SID, $CLF, $KITE, $ALNY, $JUNO, $X, $SGEN and $VALE.
Breadth stood at a pathetic 16% and the Bubble Basket found in Exodus was drowned by -4%. Since we’re running free trials through Wednesday, some of you might truly get to embrace the algorithmic winship inherent in the platform.
As far as I’m concerned, my all in position, $WLK, shed nearly 3% — leaving me in a forlorn recalcitrant mood into what could be an extended whorish move lower. Instead of permitting the market to fribble away at me like this, I might just do something about it tomorrow — via downside hedges or a full liquidation of the position. I have zero qualms about losing when the markets are hard. I do, however, feel that to lose for an extended period of time, in the face of undeniable truths, is inexcusable.
To that end, if you find yourselves in a state of ruin after this minor parlance into corrective territory, you’re likely doing it all wrong. Either way, make sure you can survive the broken elevator drops and be able to buy the blood and the pitiful state of your fellow trader — transferring his loss into your magnanimous gain.
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A+ post.
Today’s tape expressed via interpretive dance.
https://youtu.be/Pz9M-9W7B5A
at least you are owning up to your trade and how you plan to manage it….
I am more interested to have hear your view on the infrastructure/base metals plays. Are you still looking at this group for out perfermoance once a low has been established or has the boat sailed in your opinion.
The trump trades will either lead higher or lower. My bet is still higher. But we may be correcting here.
Let’s see how it pans out.
…… takeaway from the budget… no tax cuts… IWM had been pricing in a lower corporate tax rate…talk of an infrastructure spending bill was helping push along the base metals. so the lack of money thrown at Infrastructure is short term headwind.
longer term inflation is picking up steam. that will be a positive for all tangible assets so I think that longer term the base metals will outperform so if you are patient and wait for a low risk entry point the reward will dwarf the risk……
# of days without 1% decline?
# of months without 3% drawdown?
I started saying in 2013 that the indexes exhibited reactions and patterns showing only that a broad computer program was in place controlling it. I don’t believe that the action over the last few months was possible without this being the case.
SUCK IT most of my inverses are green from today SUCK IT programmers
http://www.zerohedge.com/news/2017-03-19/deutsche-bank-probability-negative-shock-high
http://www.zerohedge.com/news/2017-03-19/bank-loan-creation-crashes-fastest-pace-financial-crisis
http://www.zerohedge.com/news/2017-03-18/yardeni-warns-late-game-be-long-term-investor-stocks
http://www.zerohedge.com/news/2017-03-17/another-recession-dead-ahead-indicator-just-hit
Who is LOL now?
XD
Funny that CNBC says the move lower is about “concerns” vis a vis the healthcare plan when anyone with a brain knows this is a dollar/rates story. Inflation is being priced OUT of the market.
How about “the market ran out of retail bagholders”?
You read the BofA report on ZH. That report appears A LOT on ZH.
https://www.google.com/search?q=zerohedge.com%3A+institutions+selling+to+retail&oq=zerohedge.com%3A+institutions+selling+to+retail&aqs=chrome..69i57.8873j0j7&sourceid=chrome&ie=UTF-8
This market is about inflation expectations.
I hardly read ZH, and certainly not use it for trading decisions.
I miss the days when The Fly was always on the lookout for some easy wins, a la “The Hundy Roll”. Gone are the halcyon days, I suppose.
Buy this dip — this is price readjustment, not crashing and not recession, yet.
Wait a little longer no?
We might be about to find out how much of the rally has been driven by earnings and global growth and how much by Trump. My best guess is about 50-50. I heard somebody on the teevee some days ago talking about a Trump put. LOL, that’s a funny one.
If the holy grail of a tax bill is way out there in 2018-9 and the market expects it will be handled as incompetently as healthcare then multiples will be coming down.
Classic Fly Headline. Gave me a needed chuckle against some crappy family circumstances. Market ebbs and flows.. no biggie.
Sorry to hear. Chin up.
Yo, re this:
“As far as I’m concerned, my all in position, $WLK, shed nearly 3% — leaving me in a forlorn recalcitrant mood…”
any time you’re ready for that “YOLO Fly Did Nothing Wrong” post…just share it with us.
We’ll soon find out if the markets can go up despite Trump, not because of him.
Lots of happiness in the traditional short and inverse etf’s today.
It’s a good point made on Trump seeming to take responsibility for the market, and it was a point that was addressed to Spicer at today’s presser. Personally I think Trump is goading ”’them”’ into crashing the market like planes into the twin towers so that he can take equally proportionate counter measures.
Following Emperor Trump is like watching an old Kubrick movie, everything has reason.
I agree.
Regards
Chuck Bennett