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
20,345 Blog Posts

Welcome to the Wall of Worry

It’s a tall tall wall and only men of property sleep well knowing that their are beasts on the other side of it trying to step on your freshly placed sod. Jobless claims soared past 3 million and yet stocks are up. Why?

BECAUSE THEY CAN.

Think of the market as a meat grinder. It’s only interested in making chopped meat out of investors, leaving no steak behind. Last week the bulls were ground up and now the bears. Everyone gets a turn and no one leaves unscathed.

WTI is down 4%, yet the Dow is +400. I do not think for a second the crisis has ended, but I do think there are too many people short, who will now learn what it feels like to lose their minds — as stocks swim higher in spite of a very obvious sharp economic downturn.

It’s worth noting, the $2t bailout aka stimulus package excludes those RICH FOLK making more than $99k per annum. It’s also worth noting, govt doesn’t give a shit about you and checks will be in the mail for poor people in THREE WEEKS. By then I expect cannibailism to take hold inside of your city square.

I am long mortgage stocks and REITs. Have a looksy at the sector.

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10 comments

  1. sftradeallday23

    I think over the next week the conversation will start revolving around testing to see who has had Covid so they can return to work. BMRA and CEMI are already selling antibody tests to other countries with a 15 minute test. The UK is already starting to source tests to do this and i think this will be the next narrative. I got in some positions today.

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    • i_am_nemo

      It better be an at home test kit. It would take a while to test 350 million people individually.

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  2. Po Pimp

    Their (sic) just keeping this shit propped up until month end when 401k statements go out.

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  3. narcist

    Scaling in some ES here gradually… 2570 be the starting ask.

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  4. sftradeallday23

    And they are now talking about antibody test on CNBC.

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  5. teslawasright

    Portnoy up Huge on NKE boss

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  6. reversion

    Glad I didn’t liquidate my 401K at the bottom! 🙂

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  7. lapax979

    Read following report to learn how a single mom was able to make five k dollar in her spare time on her computer without selling anything HERE……media900.com Copy paste Now

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