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
23,463 Blog Posts

We’re on the Other Side of the Mountain Lads, Prepare for Lower Prices

It looks like tech has winded itself out, on top of a beleaguered transportation index, layered on top of a ruinous retail and oil and gas environment. Pray tell me, once people get out of their hedge fund hotels, what the hell will they do with their money?

Judging by recent pin action, maybe gold?

Nasdaq futures are down 45 tonight. European markets are setting up for a minor bloodletting, off by 0.75%.

Nothing else is notable, aside from the White House circus act.

Look, we’re heading into August soon. Men of leisure are already summering and do not have time for stocks. Expect a pullback in August and maybe in September, followed by a gangster-like rally in September.

For the week, I’m losing money and will publish by results tomorrow. I do have a permanent 20% cash position, which has been designated for Exodus oversold signals. We haven’t had one in months, thanks to record low volatility. I hope we get to enjoy one soon.

The wins are always better when having to deal with a little adversity.

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19 comments

  1. fryguy15

    Some of my worst capital losses were inflicted upon me in the month of August. Live and learn from the professionals… August is for golf, sex, blow, and good food.

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  2. sarcrilege

    Gold. I like the sound 1oz gold eagle and maple make together.

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  3. ironbird

    That fucking cripple with “Brain Cancer”.

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  4. The Maven

    Crude oil held $49 overnight. Massive CAPEX reductions noted by Whiting and Sanchez during investor calls this week…drilling rigs shutting down left and right. NatGas is fucked, it has not been hot enough his summer to drive meaningful demand. Worried about tech? Buy Apple into 10th-Anniversary iPhone hysteria.

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  5. ferd

    Looking at the chart, I’d say maybe AMZN earnings were “released” during lunch yesterday.

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  6. roundwego

    Birkinstok will bring down amazon. The counterfeit products mixed in with authentic products scam is gonna crush amazon. Walmart and other brick and mortar are gonna go to war with amazon.

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  7. traderconfessions
    traderconfessions

    Can’t we go back to Mooch?

    Fun Fact

    In 2010, he was campaign finance co-chair for former Long Island Rep. Rick Lazio’s gubernatorial bid. After Lazio lost a GOP primary, Scaramucci went to Democrat Andrew M. Cuomo’s campaign, serving as finance chair for “Republicans for Cuomo.”

    This explains Chris Cuomo/Mooch bromance.

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  8. gappingandyapping
    gappingandyapping

    Looks like 0bamacare is bullish for stocks since we are going green.

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  9. gappingandyapping
    gappingandyapping

    Can someone call Horatio Claw Hammer, I really miss that guy.

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  10. heckler

    Time for the one two Trump Mooch combo to quadruple down on some crazy ass shit. They are getting their balls boxed in right now. Holy Fuck Trump is bad at this.

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  11. bushwacker2

    I concur that gold is good for an August trade. Bought GDX yesterday…and I bought some more AMZN today. I don’t care. I’m so far ahead of the game in this stock it makes me want to belt out a bodacious barbarian yawp from a mountain top. Yeah they’re spending money. They always have…..to dominate. And it’s worked. It’s going higher in the future—much.

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  12. dp909rev

    AmazEnron. As long as your stops are set, nothing can go Enron…I mean wrong. $SPXU $SQQQ

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