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
18,464 Blog Posts

SPECIAL MARKET CALAMITY UPDATE: NASDAQ FUTS +100

Let’s see if it sticks. I recall plenty of times being up big in the overnight session, as men like @Diddy suck the profits from others clad in pajamas, only to see it open down in a very big and disastrous way. Part of the good news is CNBC is out shilling like motherfuckers again.

In other news, here is the latest response to my Twitter poll on whether Dr. Benjamin Bernanke should come out from the darkest corner of his estate and conduct a hostile takeover of the Fed, in order to enact another round of QE.

I think it’s clear, the people have spoken. We demand change, and hope that it happens.

Before you start getting bearish and get to thinking there isn’t a bottom to be had in this current squall, understand how stupid you are and that all markets bounce, even the one’s embedded in depression styled economies.

According to Exodus, dating back to actual data measured from 2009, tonight’s score is the 6th lowest score of all time. More importantly, our % of large caps rated as bullish is now at its 3rd lowest rating ever.

Just 1.7% of large caps are bullish.

Bottom line: A gigantic rally will occur either tomorrow or early next week. When it happens, sell and don’t get lured back in for another week or so — because we will retest the lows.

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3 comments

  1. bob smith

    Of course there will be bounces. But to assume this is only a generic dead cat bounce before we test the lows and subsequently embark on new highs is a fool’s errand. Something of importance is different this time. Your advice to sell bounces is sound.

    If not this time, then soon, there will be hell to pay for the free money poured on the unwashed masses over the past 10 years. Bounces off lows will be opportunities to sell. Do not buy the deceptive “all is good” bounces. These are for suckers.

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  2. it is showtime

    “Oh”
    “Um yeah”
    “The impetus exists to go the full length back up”

    Not

    And any poll with a majority saying more qe
    EXACTLY AFFIRMS THE SOCIETY’S ADDICTION
    to cocaine. you’re stuck now and you know it.
    you can’t grow without it. and you’re about to puke

    without the next fix

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  3. Dr. Fly

    STFU

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