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
16,986 Blog Posts

DEATH TO OIL

I suppose it’s rather immature to wish death upon a non-living substance, but I’m going to do it anyway. Markets rebounded and the VIX melted away like snow caps in the sun. But, I have an ace in the hole — my evergreen position in DRIP — 3x inverse oil and gas.

Realizing having more than 3 bearish positions makes me a bearshitter, I felt that this was a very appropriate position to take, especially in light of the recent rally in oil.

For the record, in my discretionary account, I am long UVXY, DRIP, HMNY, UCTT, FIZZ and ESPR, while being short BAC and NVDA.

This market is truly a hard nut to crack. I’ve been waiting for some downside action, not because I hate stocks, but because I want a change in scenery. Enough of this incessant upticks already. Let’s have some broken elevator pin action to clean the market place out from all of the faggot novices who’ve been taking it easy the past year.

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3 comments

  1. sarcrilege

    This market is not that a hard nut to crack if one knows what the croupier’s motives are.

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  2. infinitezuul

    Once Trump puts Musk and Bezos on a rocket filled with dynamite headed to the sun and exposes how much beautiful coal it takes to charge up one of those gigantic, toxic batteries oil will find a bid to $70. This all happens before Thanksgiving.

    Commenting from November 2032, beginning of Milo’s second term as US President.

    North Korea is gone. So is California. Income taxes are less than GDP in % terms.

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