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
19,125 Blog Posts

If We Reverse Lower Today — All Hope is Lost

Early this morning I took 5% positions in TNA, FAS, SOXL, and LABU. I did so thinking I’d be wrong, prepared to double those positions by the end of the day. The rationale for such craziness is the idea we’re readying for 2-3 up days of pure Xmas joy. It’s a fair assessment and certainly within the realm of possibilities. Is it not?

Right now, many of my readers are rolling their eyes, UPSET, that I would do such a thing. Fuck off. I’m merely exploring the inner depths of my depravity. Of course I know the risks and I am aware that January is likely to wreak havoc on investors, in a way not seen since the Tulip craze. However, before that happens, I’m interested in a little mean reversion — if I might be so bold.

Everything hinges on HYG. It’s up, so I’m bullish.

I’m 60% long, with lots of gold. My largest holding is TLT — and it’s up — so fuck off.

In theory, we should close at the highs. But if we don’t, head for the hills.

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24 comments

  1. irma vep

    It’s too late to head for the hills for me. I’ll have to withstand the burial until I rise again.

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  2. roundwego

    Black xmas.

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    • Lyndon Keltner

      Kwanzaa

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      • chuck bennett

        Kwanzaa is so racist.

        Created by a rapist while in jail.

        Regards

        Chuck Bennett

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        • Lyndon Keltner

          Not disagreeing.

          Nor is it ever celebrated… unless banging some random white chick counts as Kwanzaa celebration.

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          • numbersgame

            “Nor is it ever celebr’

            I would be shocked as hell if you had any insights into African American culture beyond the latest cluture trends as reported on weekday mornign talk shows.

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          • Lyndon Keltner

            Here’s a shocker: My aunt (who resides in Summerhill, Atlanta) still had portions of Thanksgiving cornbread chicken dressing in her fridge as of two days ago.

            That *is not* considered outrageous among African Americans.

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          • irma vep

            I had to represent. Yes, I gave the thumbs down. Love you.

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    • newbalance

      RED Christmas..

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  3. rigged game

    You were RIGHT predicting that you’d be wrong taking long positions in anything this AM.

    Look for a 21-22 handle on the Dow, accompanied by some panic
    selling before you long this overpriced market.

    Follow the time-tested rule: Sell EVERYTHING on Inauguration Day of a Republican, and stay in cash until a Dem wins the Presidency.
    Then go ALL IN LONG on His (or Her) Inauguration Day.

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    • Lyndon Keltner

      You would have missed out on the McKinley-Roosevelt-Taft secular bull cycle.

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  4. og

    Idiot blabbering about the wall in.

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  5. evilmav2

    11 Now the earth was corrupt in God’s sight and was full of violence. 12 God saw how corrupt the earth had become, for all the people on earth had corrupted their ways. 13 So God said to Noah, “I am going to put an end to all people, for the earth is filled with violence because of them. I am surely going to destroy both them and the earth. 14 So make yourself an ark of cypress[c] wood; make rooms in it and coat it with pitch inside and out. 15 This is how you are to build it: The ark is to be three hundred cubits long, fifty cubits wide and thirty cubits high.[d] 16 Make a roof for it, leaving below the roof an opening one cubit[e] high all around.[f] Put a door in the side of the ark and make lower, middle and upper decks. 17 I am going to bring floodwaters on the earth to destroy all life under the heavens, every creature that has the breath of life in it. Everything on earth will perish. 18 But I will establish my covenant with you, and you will enter the ark—you and your sons and your wife and your sons’ wives with you. 19 You are to bring into the ark two of all living creatures, male and female, to keep them alive with you. 20 Two of every kind of bird, of every kind of animal and of every kind of creature that moves along the ground will come to you to be kept alive. 21 You are to take every kind of food that is to be eaten and store it away as food for you and for them.”

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  6. bronze28

    FWIW; 260.86 was opening yesterday.2632.5 is the low today…. SO FAR.

    do not know if there is any significance to this.

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  7. bronze28

    oops; 2630.86 was the opening.

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  8. numbersgame

    Overpriced tech was the opening act, but corporate credit is the closer. Takign doen the King (AAPL) first below $180, and now $170 means that even funds are abandoning AAPL, deciding that current fundamentals (which are still good fro AAPL) do not outweight the unknown risks (tariffs, istore monopoly, etc).

    HYG is desperate retail investors and fund managers reaching for dividends and abandoning capital appreciation (stocks). XLF and GE tells the real story of corporate credit risk.

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