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
19,985 Blog Posts

Stocks Just Will Not Go Lower

If you’re wondering what to buy the old battle ax for Xmas this season, look no further than two of my profanity laden books — replete with my origin story about getting into the business during the dot com boom and bust.

For those who already bought them, feel free to buy them again. As you can see, they are collectors items with original RARE art on them. If you’re wondering where the fuck part 3 is of this trilogy series, it has been shelved, indefinitely. I had quite literally written 700 pages worth of reading and decided to ditch it. I then attempted to re-write it, but have since soured on writing outside of this blog. Why I have soured on writing is beyond my control. I will say, however, that waiting for Exodus 2.0 to be finished and the ramifications of that on my already busy life has probably taken its toll. I would like to, at some point, finish writing the book — but truthfully I do not feel like doing it and since I don’t make any money off these fucking things — my motivation is next to zero.

Markets will move higher today, which I suppose is good for me. Even if it were to trade lower, you’re not getting an outsized move before New Year’s. It’s just not happening.

If you want to sell short, start now and bulk up heavily before New Year’s and hope to Baby Jesus we start off 2020 in the fires.

UPDATE: (Sigh)

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15 comments

  1. ferd

    Is the dollar being defended at the expense of my good friend Numbers?

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    • numbersgame

      Obviosuly, I’m losing a lot of money on Treasuries today. However, last time you said that Treasuries started rising.

      Treasuries are a long-term investment, not a trade. I’m not selling until we hit a bear market. So when we hit a bearmarket, if Treasuries don’t gain enough to outperform stocks at that point, then my theory is bunk.

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      • alty

        Oops guess I was wrong

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      • ferd

        I’ve never said that here before.

        Anyway, I was not trying to tweak you. It was a sincere question for this forum. Every time the dollar looks to be breaking trend over the past year, stuff happens. Interesting aside …just yesterday, Gundlach observed that there is a lot on foreign yield chasers buying our paper who have not hedged the currency and that a move lower in the dollar could be quite disruptive. So the dollar, so far, has been brought back up…

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        • numbersgame

          Yes, but the move to chase yields (via Treasuries) is value-chasing, not speculative. It’s much differnt from short-volatilty trades, for example. It’s sustainable until rates in Europe and elsewhere rise.

          Also, last week I showed how Germand banks were passign negative interst rates on to their reatil savings accounts, so Treasuries across maturities are an obvious safe haven.

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          • ferd

            It is NOT sustainable if the dollar falls or if they think the dollar does not have support and may fall.

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    • alty

      Numbers can be found in the ibc graveyard next to edge, roundwego, and the nymph

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      • numbersgame

        Your reading comprehension skills are truly remarkable.

        I guess I’ll also have to point out that bonds are still above +15% this year, so I’m quite alive, but thanks for your concern.

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      • numbersgame

        Also, don’t worry about the massive turnaround in stock prices at 10:30.am I’m sure it’s nothing.

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        • alty

          We are both rooting for lower prices. I’d prefer to buy shares cheaply. Luckily REITs are on sale.

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    • numbersgame

      Aslo, I’ll note that ROKU, NFLX, and AMZN are all performing poorly while we are at ATH, whil MU is shooting up, IWM is higher than the last time markets made ATH.

      DIS isn’t doing so well the last month, but they already have 6 out of the top 7 box office hits, and “Rise of Skywalker” is just around the corner.
      https://www.boxofficemojo.com/year/2019/?ref_=bo_yl_table_1

      Do you know anyone with kids under the age of 13 that hasn’t bought a Disney toy this year or doesn’t subscribe to DIS+?

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  2. helen

    got me a shitload of QQQ put options expiring tomorrow…
    Sell the news type of thing. This “news” has been so overused, even the orange baboon is tired of it.

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  3. helen

    Ouch:)

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