Archive this post for fine aging.
I bought SOXL and LABU today — because nothing says bullish like getting long two of the worst 3x upside ETFs in the market, both of which have just bankrupted scores of traders. I believe, rather emphatically, the conditions are present for a 666 point rally.
The Nasdaq is moving in 15 point increments, wildly swinging to and fro. Sentiment is overwhelmingly bearish, and for good reason. Do not hate on me just because my greed is without boundaries. I have no bias other than a preconceived notion that all gains shall, and henceforth, be mine.
If I’m wrong, damn me to hell. But I seriously doubt it. “The Fly” doesn’t fucking lose.
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You just mean a bear market rally right? Or a real bottom now?
“Timing Bottoms is For Catamites” – Fly 4:13
Oil is crashing. Bounce is done. Crash it.
Long-term, the markets are fucked. Fed can barely unwind ZIRP/QE without causing panic in the financial markets. Interest rates are barely at a range of 2.00-2.25% and the financial markets are squealing! That, in combination with irresponsible deficit spending means we are out of bullets when the next recession hits. I think the era of outsized stock market returns that began with the Greenspan Fed in 2001 is nearing its end for a long time.
666 point rally in SPX or Dow?
You really are losing it! Did your space time machine break down? Stop changing your mind every day and get back into cash. The bottom is not in. Looking like a dead cat bounce.
You might get follow through buying tom but the bottom is most assuredly, not in!