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
20,200 Blog Posts

MARKETS ENJOY BIGGEST SPIKE SINCE 2008; BUT NOTHING IS OVER

It’s one of those annoying narratives that Wall Street loves to barrel into, the everlasting ‘retesting of the lows’. While stocks are higher today with verve, let’s not forget we are DEPENDING on Congress to pass the stimulus bill and we’re also still locked the fuck down.

Now there are a slew of analysts out today telling us to buy NVDA and banks and how the lockdown will soon end. But I’m not so sure about that, based on the evidence. As such, I bought and sold FAS today, for a +5.4% rip, sold out of my overnight SOXL for +25% and will hold onto all of my gold positions, and more — because of reports that there is a shortage of physical gold in the market place now due to closure of mines.

Today’s spike is representative of the largest spike since 2008. The V-TARDS are out in FULL FORCE, claiming to have inside knowledge on how COVID-19 works and how everyone is going to be rich again and how nothing can stop markets from steaming back to record highs.

Want to make a bet?

The CMBS market is in tatters. Everything is being held together by the Fed’s printing press. The govt is now the caretaker for 350m Americans and industry is stalled at -90% by mandate. This is hardly the time to feel your oats.

STEEL YOURSELVES lads, for the fires burn bright in the not so distant future. Be ready for them making themselves know by charring the Vtards first.

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20 comments

  1. spaceman

    I’m up to 37 GOLD EAGLES tucked safely away in a nearby depository and $2800 cash in my wallet waiting for the upcoming BANK HOLIDAY. Thank God the Fed is destroying the system the emptier the shelves in Wal-Mart become the happier I am.

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  2. i_am_nemo

    Lots of balls in the air. Who will go on a cruise, fly, rent a car in the next 6 months? Dine in a restaurant? This is a big part of the economy.

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  3. bambam

    Wow… I know your neither Bull or Bear.. you simply trade what you see and bank coin but Jesus dude.. it’s not over. It should have been over in 2009 but it wasn’t.

    None of the super rich douches are going to let this musical chairs game end. Period. Nope. Not happening.

    They’ll pass some dope ass bill that gives pleabs some lambo $1k check and they are still fooked. Meanwhile, our illustrious leaders will enjoy moar gains and raises for a jorb well done.

    For all we know Donnie J is closing his shorts while his pappy pumps the market and opens things up in time for some Easter shopping.

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  4. reversion

    Fly will be buying the market 20% higher……. smack talking about how amazing he is

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    • i_am_nemo

      Nobody calls a bottom or a top except Greg Mannarino, as he is the smartest man alive. If they do, they are lucky. Investors average down or wait for for an confirmed uptrend.

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  5. it is showtime

    The logic leans that a permanent pivot would ‘not be done’
    In that case allowing trump reelection

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  6. edge

    Everything is fine. Trump will have us back to record highs in no time. Back up the truck!

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  7. i_am_nemo

    Fly,

    You can give the lurkers your best money management tips in a post.

    Consider the 30 something Robin-hood guy who is all in.
    Consider the 60 something who is overweight stock for the yield.

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  8. sftradeallday23

    We will be back up much later than china. Look at the measures they took to get things under control and now realize they are just getting back to a semi normal 2 months later. We will not have the same success they are having. They LOCKED Wuhan down and ripped people out of there homes and locked them in temporary hospitals, nobody allowed out of there house, nobody in/out of city, transit fully shutdown, airports shutdown… People are running around NYC and leaving to go all over the country and northeast. This will get much worse than china and will go on for 3 months minimum. Additionally Europe is handling it just as badly and will suffer just as long. India is looking like it could be severely impacted, south america just getting going…. how will this impact international demand for everything our international companies make. Not many other countries will be able to bail out there entire population and all of their companies. Worldwide credit impacts have not even begun to be fully exposed. Oil patch.. what happens when a number of them go bankrupt. If you are buying tomorrow you are going to be holding a bag in a month. I will be going short a half position tomorrow when the stimulus bill gets passed.

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    • i_am_nemo

      The Yuan will be the new reserve currency soon. Thank your leaders for the past 50 years.

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      • ericbakerbruce

        That’ll never happen. Can’t trust the Chinese. Very deceptive. He who go through turnstile sideways going to Bangkok

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    • tjnyt

      They turned Wuhan into a giant cruise ship, almost everybody got sick, many died including healthcare workers. Compare it to Germany, sensible and pragmatic. Also count tour blessing, mild illness in the US

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  9. tjnyt

    Spanish nursing home workers abandoned their residents at the first sign of infection, let them perish in their beds. Here against my wife’s protests, I have kept my housecall schedule visiting the elderly in the comfort of their homes.
    Could it have happened here?
    https://www.npr.org/sections/coronavirus-live-updates/2020/03/24/820711855/spanish-military-finds-dead-bodies-and-seniors-completely-abandoned-in-care-home

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  10. heckler

    Psychic spies from China try to steal your mind’s elation
    And little girls from Sweden dream of silver screen quotation
    And if you want these kind of dreams it’s Californication
    It’s the edge of the world and all of western civilization
    The sun may rise in the East at least it’s settled in a final location
    It’s understood that Hollywood sells Californication

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