How am I supposed to get my bearshit persona going when I can’t even go for a cup of coffee without seeing the entire calamity washed away with this fictitious renewed optimism?
There I was, relishing the idea of being an Orc short stocks and BAM — fucking elves beat me the fuck down and took my ears off.
Everything just changed inside of a few short minutes. We went from harrowing losses to full on cocaine charge higher. Shorts are gonna get their dicks cut off into the bell now.
I’ll hold my inverse ETFs, more of a penance if anything else. I did buy OLED earlier, so that’ll participate. And, bear in mind, my entire Quant account, which is 70% of my assets, are held long — with a 20% cash position.
Not trying to have it both ways here — faggots, just stating facts.
The bear market has ended.
Go in peace.
UPDATE: Exodus registered oversold here, intra-day.
Whip saw, BBBEAatttchhh.
2533 was SPX’s 200 MA test. Algo T/A’s came in and bought, we are popping but should retest again pretty soon. They did that going up, they need to do that going down
This is happening because you offered the market you head and have yet to deliver.
LOL, well done.
Is Fly the new Gartman?
I want to believe it’s not true, but there has been WAY too much extrapolating very short term moves around here lately.
This is just day trading BS. What happened to day traders being the vultures waiting around for scraps, once the lions have had their fill?
Agree. I don’t like the day-trading degeneracy this site has turned into. I much prefer discussing longer-term outlooks and thesis.
But maybe its just a sign of the times…
I am still long term bullish on stocks, MU is a big position, bullish gold and bearish bonds. Post the long view and I will join in the discussion.
Long term I have a massive position in $URA that’s getting lit up. That’s a HODL. Buy things that are down 5+ straight years and look at them again in 5 years time.
Other then that, I allocate in the laziest way possible:
1. Run a balanced portfolio (about 70/30)
2. When shit hits the fan sell the 30% fixed income
3. Short volatility coming out of the hole, when the VIX futures go back to normal contango.
4. Sell short vol when I’m back near my high water mark.
5. Back to balanced portfolio.
Slowly this just allows me to hit high water marks well before equities are back at all time highs.
Gold does look fantastic here.
You better believe the PPt team had to step in. Copper was testing $3 – this hit is getting real.
And that Bitcoid/stock correlation? It diasappeared. BTC is up dfor the week – retail gamblers are still in BTFD mode, for now. Perfect time for the smart money to exit for the doors.
S&P was almost a perfect double bottom, to the tick. Perfect technical patterns in the midst of chaos give me more conviction that the lows aren’t in yet.
citadel/ppt/& the usual suspects painting TA charts by numbers – very predictable
@ head-surgeon :
he lost his head time ago , now posts BS only
but yes he fails to deliver in multiple ways
OK, now maybe we’ll have that black Monday.
Trump picked up the phone, called Treasury Secretary Mnuchin and said “Steve you wife Louise is hot, ultra hot, but this correction needs to end now or…You’re Fired!” Steve called Goldman and Louise Linton picked up the phone, called some folks around town and made it happen.
The bear market ended? Maybe the bull has ended. Have you seen the latest ETrade commercials?
Here are some of their themes:
1) Some chiock is hotter than you nad goes on better vacations? Take revenge by trading and earnign more than her
2) Some “loser” bought a yacht? You need to trade with more to buy your own yacht
3) YOur broker makign a lot of money? trade more so he gets less
and my favorite:
4) Are you already 60 or 70 and have a shitty job because you didn’t save much in the past? Trade more so you can retire.
Trust us, RISK ON!!!!
Where are your shitcoins? I DEMAND SHITCOINS!!!
The blog this week shows that volatility is here. Even if only for a week. I’ve never gotten a bid filled 3% under my limit until this week. You get a notification on a fill and you’re already up 3% in less than an hour on your order. It’s a scalpers dream.
Wait, are you saying volatility is UP?!!? Holy fuck stop the presses, this is BREAKING NEWS!
If you’re a retail investor, this is your chance to make markets. This is your chance to buy the bid and sell the offer 2 points wide. That’s a hundy per contract on an E-Mini. Buy market orders and make some markets. Look at the trade today and tell me it wasn’t easy to buy an E-mini at at any point with limit orders and win. Long or short, you’re just an asshole.
Point spread between E-mini futures and SPX were over 0.5% wide all day. I hope somebody made and arb.
Jeez, you marking the turns today mate with your blog posts – gartman style.
Still enjoy it though…
Don’t be fooled: bargain hunters abound. In the last deflationary depression, the number of new accounts opened AFTER the initial crash exceeded all that went before. They got fucked every step of the way down. This time will not be different.
We need some war trolls, Mr. Fly.