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
18,725 Blog Posts

REMINDER: MARKETS DON’T BOTTOM ON FRIDAY’S

Both the Dow and the SPY look fine. The Nasdaq is weak, mostly semis related. My best position is NUGT and it was my highest conviction trade. I don’t have many high conviction trades now — but that’s one of them.

I suppose this is constructive action, all things considered. Big up day yesterday, followed by a milquetoast decline. It could’ve been a lot worse.

I’m flat for the day in my Quant, and still down more than 1% due to my losses in NVDA and SOXL last night. God willing, and I hope that he reads my blog, some of my positions will take the fuck off by the end of the day and I can rest easy tonight knowing all is well.

THIS IS FRIDAY, MOTHERFUCKERS. Don’t expect stocks to bottom.

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2 comments

  1. bronze28

    FLY… have you given thought that it bottomed yesterday?? and at that , a higher bottom than October 29????

    not every bottom comes with a flush although that would be a much clearer signal.

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  2. og

    CHINA!

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