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
17,843 Blog Posts

IT’S OVER: CATACLYSM STRIKES WALL STREET AS INDICES DIVE TO RETEST LOWS

UPDATE:

You didn’t need to be a rocket scientist to play this correctly. You only had to listen very quietly, to the rumblings underneath your feet. A gigantic cocked tsunami is barreling towards you — filled with anger and rage for all of the months of complacency — a President who tweeted about stocks is a President who will one day feel its venomous wrath.

The cucks at CNBC have been wasting time, as usual. So I tune them out and drown them in a soundtrack of choice.

I have an idea where we’re going and it’s lower — rather immediately.

Expect a heart attack drop of 1,000 points tomorrow, closing out the week of hell — setting the stage for true panic Sunday night. A Valentine’s Day massacre is upon you. Fear it, else end up on the losing end of a pork sword.

With my money, I still have some oil stocks and one or two shit stocks — but I am now hedged — long TMV for the black swan failed Fed auction event and of course SOXS — because NVDA is a bitch. My most recent addition is FAZ — because I am hoping for contagion. Why not? After all, it’s a rather good thought and it feels good, so why not bet on it?

From my vantage point, the banks stand to lose largess sums of money from the loss of excess — the perpetual and never-ending stock market incline has caused many to become fat and bloated, narcissistic pigs who should be cleaved.

The XIV was the opening salvo into what will one day be described as “the greatest fuckery to have ever existed.”

Brace yourselves.

If you enjoy the content at iBankCoin, please follow us on Twitter

49 comments

  1. it is showtime

    Alex Jones (2nd HOUR) 2/6/18: Peter Schiff: Stock Market News & Analysis
    https://www.youtube.com/watch?v=6UtONN6xAVs

    Oh, but he’s been wrong forever too, Right?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. acehood

    NVDA will be up 10% in the morning. Minimum.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  3. Angel of Death

    First bitcoin bubble burst. Now the FED has a choice, the bond market or the stock market? Or both?!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. bob smith

    Here’s what likely to happen. Blackish Friday down to slightly above recent low. Then, an admirable bounce to suck in the last “it was only a retest” folks.

    Then… look out below as people realize the test was just a snowball and an avalanche is coming.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  5. frog2

    JUST FUCKING CLOSE ALREADY

    the fucking HOOKED me

    TRUMP SAY SOMETHING!!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • edge

      He’ll talk about crooked Hillary or inauguration crowds or something useless.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  6. Angel of Death

    Guys we should be embracing higher rates. In fact I would not mind fed funds at 15%. This will get people off the debt train and force them to start saving again. We will be so much better off in 10 years if they just let it all implode so we can build something that will last. Let’s stop this non-sense of endless debt and start building.

    • 4
    • 2
    • 0 Deem this to be "Fake News"
    • chiweez

      Here here…

      • 1
      • 1
      • 0 Deem this to be "Fake News"
    • edge

      The economy is fine.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • tonka

      Assets = Liabilities + Equity

      Every liability is someone else’s asset. The two have always grown hand in hand.

      But let me know if you figure out how to break that equation.

      • 1
      • 0
      • 0 Deem this to be "Fake News"
      • metalleg

        Do you know the difference between an asset that is priced properly relative to its true value and an asset that’s priced based on what someone needs it to be priced at so they don’t blow the fuck up?

        • 1
        • 0
        • 0 Deem this to be "Fake News"
      • Angel of Death

        You’re talking about the balance sheet equation and you are correct. We are a heavily indebted nation. We don’t actually own anything. China owns it all. I’d rather own the debt than have to pay it, except it doesn’t really make any sense for China to want to keep buying our debt at 3%. They are going to start requiring higher and higher rates to hold our debt, because they know the only way we ever pay it off is to debase our currency.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • tonka

          China is free to sell at any time and get 0% interest bearing cash. They will still have a trillion in US cash coming in every year, from goods sold, that needs to be invested. Easiest thing to do is buy treasuries as it’s the most liquid market. Also better than sitting on 0% interest bearing cash.

          • 1
          • 0
          • 0 Deem this to be "Fake News"
        • edge

          China owns govt debt b/c we tell them it is all that they will be allowed to own. If they don’t like it, tough, they can keep their crappy lawnmower engines. They have no leverage here.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
  7. peaches

    Long GBP short dow short oil.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  8. soupbone

    the weeks events have produced supply and if forced to rebalance by selling that is the very best of circumstances for buyers.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. Fidel Cash Grow

    This is exactly the type of market people yearn to be long over the weekend… right?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. edge

    The Fed auctions are designed to go smoothly, and always have. Of course, this administration may be able to change that. We’ll see. But I think it goes fine.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • edge

      Treasury auction. Excuse me.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • tonka

        I can’t envision a scenario where banks forgo their primary dealer responsibilities. But I’m open to ideas.

        • 1
        • 0
        • 0 Deem this to be "Fake News"
        • Angel of Death

          When they don’t want to be left holding a 30 year, 3% bag. One of these days the auction will fail, unless rates keep going up.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • tonka

            Primary dealer is the most prestigious club in the world. To be a part of the club you are obligated to buy whatever is auctioned. In return you get amazing benefits of transacting directly with the fed. If you don’t buy, you get kicked out of the club

            • 0
            • 0
            • 0 Deem this to be "Fake News"
  11. joseph25

    A much needed “We the fuck up” call.

    • 0
    • 1
    • 0 Deem this to be "Fake News"
  12. joyous__ending

    Anytime the DOW is down 4% in a day you have to suck it up an buy something in those final minutes.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. og

    Got lucky and sold TWTR at the open.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. cancel19

    I don’t know shit but me thinks this fuckery is a setup for the companies to do their buy backs from the new tax plan and repatriation.

    • 0
    • 0
    • 2 Deem this to be "Fake News"
  15. fryguy15

    That FAZ buy was classic TheFly. HA!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. roundwego

    I fucking luv it. Fly gone full bear. The pig market is so fucking retardedly fat from 9 yrs of feeding on fed troft. This slaughter will require multiple cleavers to slash away all fat off the 1 ton pigs.

    The funny they don’t even realize how obese they got. Chop chop chop em down.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  17. Lyndon Keltner

    This is a slow motion 1987 redux. Slow motion because of the circuit breakers.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  18. Lyndon Keltner

    Everything Trump Touches Dies is still as true as ever.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. doubleplus

    Systematic denial of the XIV situation was a huge indicator. Love being in index funds right now. Hope we cascade to a 30% loss over the next 6 months so I can buy more.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. jonnybegood2

    etrade switched free live streaming of cnbc to streaming bloomberg. shows where cnbc has gone. don’t listen to cnbc much anymore other than halftime report and fast money. pretty blah during the day. but no worse than the days of bertha coombs screaming from the oil pits like chicken little about WTI breaking 100 a barrel. they have pretty much always sucked. save for a few then and now.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. ilostitall

    bitch please…

    • 0
    • 0
    • 0 Deem this to be "Fake News"