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
18,360 Blog Posts

Go Eat a Sandwich — Market is Now Unclear

Lots of short squeezing taking place in biotech, with SRPT leading the fray thanks to positive clinical data. Other DMD related biotechs are scorching higher in kind, namely SLDB. I have no edge here, so I don’t even bother.

The other one that caught my eye is GEVO. I had a buy order in when it was $16.5, but chickened out. Now look at the fucker, encroaching on $24. Imagine being short from $2? Margin clerks must be freaking out.

Other than that, there really isn’t much to buy. Lots of SAAS stocks are getting murderhole’d — like SMAR. The way I see it, now is a good time to eat a large roasted beef sandwich, enjoy the comforts of cash, and wait for clarity.

Lots of old man stocks and utilities are higher — due to defensiveFAGS piling in. I have no interest in that game. Too slow and boring, and also slow.

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