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
18,593 Blog Posts

Nasdaq Futures Crushed — Prepare to Be Annihilated

I had two pounds of ground beef lying around, so I whipped up some white trash Salisbury steak. When I was a wee lad, I always liked the Salisbury steak teehee dinners. I’d eat the steak and the brownie, toss away the fucking corn niblets and then complain to my mother about being hungry again. My version of this white trash classic is a little more developed, festooned with extraordinary ingredients, burgundy wine, and a homemade beef stock. Alas, Le Fly is a man of distinguished qualities, food, drink, tobacco, stocks — all the very best.

As for markets, prepare to be fleeced. Nasdaq futures are down by 50. My quant portfolio has been manhandled this month, in line with the broader market — but my active portfolio has gone higher — due to timely trades and also aggressive defensive posturing. Heading into tomorrow’s bloodbath, Le Fly is 65% cash. Find solace in knowing that Le Fly, a man of distinguishable qualities and super genetic material, will be fine at the opening bell. While you might be cast asunder, crushed under the weight of your own incorrible hubris, I shall be fine.

There’s no news or narrative for me to weave, other than the obvious fact that there are more sellers than buyers. The fashion on Wall Street is now to sell, get scared, sell some more. If you over analyze these sort of things, you’ll trade yourself into the poorhouse. Stay defensive and don’t try to catch the bottom. Too hard and low probability for novices, such as yourselves.

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6 comments

  1. natehois

    They’re only down 27 now, which let’s be honest- is worse

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  2. cancel19

    Stay calm folks. All this is pre election bull!

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  3. ironbird

    Keep calm and learn Mestizo.

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  4. og

    At this point a gap down at open is probably better than another gap up and fade.

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  5. the dude

    Listen, and understand. The algos and risk parity funds are out there. They can’t be bargained with. They can’t be reasoned with. They don’t feel pity, or remorse, or fear. And they absolutely will not stop, ever, until you are dead.

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  6. acehood

    Fair value???

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