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
23,431 Blog Posts

BIAS CHANGE; BARRELING TOWARDS FRESH LOWS

Admittedly, I had it all planned out. I was going to preside over my Thanksgiving table, which would be festooned with festive flowers, and rich foods and meats, proudly declaring to be thankful for having accurately “NAILED THE FUCKING RAM TO THE WALL”, making bounties worth of coin in the stock market. I’d viciously rip into a turkey leg with my teeth and declare the feast to be live and ongoing. While my kids cringed at the moment and slinked into their chairs and below the table, I’d produce a properly frapped champagne and pop the cork into the face of my least favorite guest — by accident of course, and then wildly splash the wine all over the table and over my head. Then I’d crash out of the window, onto the yard below — running off into the sunset en route to the green fields of Romania to spend the balance of my days there, tending to goats and mountain people.

Instead of all that shit happening, I sold out of my SAAS plays now. Losses ranged between -2.5 to -9%. Stop losses will be adhere to at all times.

With some of the proceeds, I bought 3x ark, long TMF — because markets are crashing again and America is a safer haven. Our military might will see to it all buy our bonds, one way or another.

Presently, I am long CANG, TMF, LABD, DBX, DOCU, and TLRY. My cash position is 70%.

My theory: markets crater next week and retest and make new lows. Then we’ll bounce off the lows and rally into Turkey Day.

PROVE ME WRONG, FUCKERS.

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7 comments

  1. plain ben

    It’s insane how you go back and fourth in market direction.

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  2. soupbone

    Turkey will be served in any case while renaissance is possibly delayed. Crude is geopolitical and despite the talk right now crude oil should continue an uptrend. Saudi is over-producing to compensate Iran sanctions but for how long.

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    • moosh

      If this flat, ball of a planet created by aliens existed… The house of Saud has had a pretty good run draining their territory of proportioned black gold, under sand, which needed little technology advances.

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  3. bronze28

    it looks bad but so far from recent low to recent high, we are down to around the first Fib. pullback; 38.2%. As bad as it would feel, we could easily go back to 50% which would be an ordinary pullback. But certainly caution is in order and prudent money management.

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    • moosh

      Yeah, this is just some type of return of normalization and shit. Buying dips and selling rips, is paramount if trading, otherwise avoid the churn, because no one really knows what’s going on. But we should all keep up trying to know and discuss. Thanks fly!

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