I finished part two of my story, which was a dreadfully harrowing experience — being forced to remember the dot com collapse. I was so god damned stupid — but I didn’t know any better. Like a handicapped person trying to climb a mountain, it wasn’t my fault, per se, when I slipped and fell off the mountain and broke my neck.
The handicap people of today are the Bitcoiners — oblivious spoiled brats who only know sunshine. They do not know what it is to feel defeated, totally and absolutely routed from the field of battle. It’s fine to lose — it’s a whole different thing when you’re wiped out.
Case in point, shareholders of KEM were feeling rather invincible with their nonsensical rally, up until today. One bad earnings report and BAM — off with your head.
There are others on the menu today, such as W, OSUR, NVTR, NTLA, MYGN and DWCH.
Boy were they good hot stocks up until today. I bet the shareholders of those stocks felt absolutely invincible over the past weekend, not knowing what Mother Market had in store. As sure as I am sitting here, the same will happen to ALL hot stocks at some point along this narrative we’re weaving — the endless rallies that were once described as byproducts of QE and are now just “there” because, well, stocks have only one way to go. After all, where else will you place your money — bitcoin?
If you own bitcoin, where else are you gonna put your money? Ethereum, Ripple, Gold? Don’t be silly. No one buys gold.
The moment you opted away from safety of principle and wanted to make money off of your money is when you opened the door for a KEM to surprise sex you and crash your hopes across the rocks of reality.
If you enjoy the content at iBankCoin, please follow us on Twitter
Right. Nobody other than Russia, Iran, SA, China hoards gold. Just because it’s shiny and looks good in the vault. I mean, who needs gold when quantum computers will mint/mine all the cryptos to heart’s content in minutes.
and India
I was there for the great dotcom explosion and implosion. I owned AOL back in 1994. I have NEVER seen the market so topped out, nor have we EVER had this kind of ridiculous run.
The new investor snowflake day-traders have literally never even seen a down market. At some point, the gig is up. What the trigger will be is a mystery, but I think its fair to say that this market is a joke.
One should prepare accordingly.
Part deux for sale yet?
Or we could trend higher until Emerging and Europe are at all time highs as well, another 20% about for them. Super pain trade and hard to imagine dow and nasd not correcting right now, but theoretically there’s always a solid macro bull case until Emerging and Europe catch up.
A repeat would call for commodities to peak (2008) well after the sub-prime bankruptcies were started (2007). So shit can run on for sure and in the case of oil at $150 an energy shock added to the misery.