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.If you enjoy the content at iBankCoin, please follow us on Twitter