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
23,431 Blog Posts

Markets Stall and Dump Out at Open

I dumped out of my underperforming stocks this morning and bought an inverse ETF to hedge what I have left — because this open is ugly. The foundation is ok, with commodities strong and bond yields steady — but I always have a hankering to sell short this market because deep down I hate it and want it to die.

There is no hiding from the fact that I hate this market and want it dead. All of my upside plays are mere place-holders for an eventual position betting on end of days. I am 70% cash now and not eager to take on any sized position here — because who knows what the fuck happens? Really, you’ve got to be nuts playing the intra-day rips and dips in a market that is explicitly rigged.

The Dow is +144 and the Nasdaq is -88. Go figure.

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12 comments

  1. tha pirate

    BTW, did anyone see a quickly deleted, but earlier sent tweet from ‘occasional-Cortex’ who requested that the USA might consider ‘delaying reopening’ so as not to help Trump by strengthening the US economy??

    Gee, I wonder why the fakenews complex doesn’t run that story?

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    • herip18586

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  2. roguewave

    The market should dump out. The covid news is worse than we thought.

    Joey B (Biden) recently said 130 million Americans died from COVID.

    Holy cow, that’s 39% of our population. No wonder the roads had been clear.
    It’s good we got rid of church services and funerals – no time! Mass graves for everyone.

    Our best and brightest bubble to the top so we can have them lead our country!

    • 2
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    • roguewave

      New York just changed their license plates to “The Mass Grave State”

      • 2
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    • narcist

      Oh, geez, he misspoke! (Wasn’t Biden the original gaffe machine?)

      The suburbs are apparently more comfortable with a mildly creepy senile white man who doesn’t ask them to consume any Clorox-Hydroxychloroquine cocktail as a COVID remedy than with the one that did.

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  3. narcist

    So, in short, Trump’s poll numbers are collapsing and his impotent fanboys are extremely grumpy.

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    • 1 Deem this to be "Fake News"
  4. digobed329

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  5. og

    Bought this morning’s Facebook dip hard. There’s no better advertising than what you can get on Facebook / Instagram and Google.

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  6. herip18586

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    • 0 Deem this to be "Fake News"