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
18,723 Blog Posts

Cramer Warns of Fed Knowing Nothing Again, Nvidia is Toast, Markets Don’t Bottom on Friday’s

This is what we don’t want to learn about on a chilled Friday morning, less than a week to national festival.

Cramer says CEOs, in private, are telling him the economy is slowing and the Fed is out of touch with reality.

Fine. But the Fed knows exactly what it’s doing — consolidating banks into the hands of the strong, washing the country of the weak. Opening up the labor pool to our most productive companies by disjointing it and casting aside the marginal players. The only way to do that is to slow the economy and cause unemployment.

Boom, bust cycles, all managed by the Fed.

Shares of NVDA are meeting their maker this morning, after missing a whole lot. They blamed weakness on crypto mining. Oddly enough, when they were smashing numbers, I vividly recall them saying it had nothing to do with cryptos.

Fuck off.

Let us remember, inexorably, markets do not bottom on Friday’s — not now, not ever.

I sold both NVDA and SOXL in the after hour’s last night and hold 10% cash. I also have another 10% in defensive stocks, like NUGT, and TMF. But, like you, I expect to bleed today, nourish the earth with my energy and pain. Hopefully, it’ll be enough to give reason for a Turkey Day respite, although it’s not looking like a promising eventuality.

If you enjoy the content at iBankCoin, please follow us on Twitter

7 comments

  1. roundwego

    Gold blast off

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. ironbird

    That midget is a spook and always has been. Keep watching that is the plan.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. Phileo99

    Don’t look now, but markets might be putting in a bottom today

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. the hungry dog

    Fly I must be a fool or a dumbass but I bought more NVDA @$165 this morning. Buy when the blood is running in the streets!!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • numbersgame

      You’re good. Strong support at $160. Also this morning:

      Nvidia Is Maintained at Overweight by Barclays
      Nvidia Is Maintained at Buy by Mizuho
      Nvidia Is Maintained at Buy by Citigroup
      Nvidia Is Maintained at Hold by Deutsche Bank

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • numbersgame

        *good for now based on technicals and Wall Street pumping. It’s still too pricey for my tastes, but I’m still long another semi (MU), at least through their December earnings

        • 0
        • 0
        • 0 Deem this to be "Fake News"