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
19,895 Blog Posts

It’s a Bad Omen When I Can’t Find Anything to Buy

I was forced to average down in a stock today, due to the severity of the decline. Usually I don’t throw good money after bad. But the nature of biotech is wild and we’re still in a strong uptrend, so dips should be bought. Selling biotech on dips is an admittance of failure.

“The Fly” does not fail.

Looking around the market, I am beguiled, and also bewildered — because I can’t find anything good to buy. There are stocks to buy, but none of them are “good” in the traditional sense. Hear me when I tell you — when I am unable to find stocks to buy, it usually means end of times is just around the bend.

There are a handful of retail stocks, lots of oils, and a plethora of degenerate biotechs. That’s it. Nothing else!

For now, I remain stoically in a 50% cash position.

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5 comments

  1. acehood

    BMY. Put all your clients in it.

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  2. ericbakerbruce

    If you can’t find anything to buy you are not working hard enough

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  3. superpositron

    Buy some UGAZ!

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