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
19,441 Blog Posts


Good morning miscreants.

It’s important for you to know that the market is going to hit new record highs. These highs will be built upon the broken backs of all the short sellers who’ve obstinately kept shorting the market as it spiraled higher. If you haven’t made any money in the market in recent month, it’s because you haven’t really tried and instead opted to be lazy with ideologue thinking. It’s very easy to only think one way, which is the preferred mode of living of most unintelligible people; but to adjust and to be pragmatic is to understand the essence of life.

Do you pretend to know what you’re doing most of the time, or do you really know? In other words, the market tricked you in since the beginning of the year because ‘it’s rigged’ and a ‘scam’, or maybe because you were too obnoxious and stubborn to adjust to a new uncomfortable reality?

I think you can learn a lot more from my changeable ways than anything else. It is often ridiculed by most of my trolls — people cavorting online with indecorous mannerism, critiquing the work of a space alien magician (SAM). But it’s this malleability that has permitted me to survive all these years, and to enjoy the innumerable bull market runs, as well as the bear, without so much as a blink of an eye.

I simply don’t care which direction stocks go — as long as they’re making me money.

Early going — Nasdaq futures are +15 and I’m seeing a number of small cap biotechs popping off again. My OKTA caught a Goldman upgrade and Deutsch Bank and Commerzbank might merge. Also, and I found this interesting, Wells Fargo is in talks to sell its retirement plan services division to Principal for $41 billion.

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One comment

  1. ferd

    Shorting indexes got to be a very crowded trade in the past week. However, my only recent short continues to work …XHB. Will housing start to matter to broader market?

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