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
19,327 Blog Posts

Markets Set to Move Higher Again — New Highs in Sight

I’ve been long MDB, off and on, for the whole year. I didn’t want to own it into earnings and will regret that for the rest of my life — seeing shares up 20% in the pre-market. Finding MDB was easy. I wanted SAAS and I wanted growth and I wanted stocks will high Sharpe ratios — which is a fancy term for technicals — but longer duration technicals — like on a 1-3 mo scale.

I see SNAP caught an upgrade. I see GE missed earnings. I see gold is sharply lower — bringing forth my fears of a head and shoulders top to the surface.

Lots of things interest me in the pre-market. I’ve always been one to prepare the night before for the next session. What ends up happening, however, is that everything I thought I’d like the next day turned out MEH and I’d simply buy or sell things I viewed in the moment. There’s nothing like looking at a stock and feeling it’s direction — the way the volume ticks and how the offers are ripped out. You can sense when a stock is going to drop by the jarring moves lower and small upticks, like a dam tipping and heaving from the pressure — moments away from being ripped apart.

I suspect biotech stocks will, once again, lead the degeneracy, with maybe some Chinese Burritos, if UXIN is any indicator — another stock up sharply in the pre-market. Another space that has been strong is alternative energy, and of course solar. Who wants to buy oil up here? Anyone?

Semis are a tough buy here, and I’m talking my book — short via SOXS.

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One comment

  1. flea

    The VIX is under 13. WTF.

    The market CANNOT go down like this.

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