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
20,951 Blog Posts

Gamestop Accompanies Bond Rout to Destroy Stocks

It wasn’t supposed to be like this. We had the GME business behind us and then out from nowhere a massive spike sent the market tumbling towards fresh daily lows, off more than 400 NASDAQs. I am of course speaking out bond yields, those bastard son of a bitches that plague us and stop us from financing for close to nothing.

We are in there midst of a CATASTROPHIC melt up in rates, as the 10yr swims freely higher by 10bps to 1.5%. The fear is the Fed lost control and this is it — the end. Fin. But those people are wrong and have always been wrong, ever since birth. I will tell you this is a temporary glitch and we will soon get back to popping champagne corks into each other’s eyelids.

On the matter of GME: there is a biblical styled blood vendetta out for Melvin Capital and Citadel by ordinary folk with $40 in their brokerage accounts on Reddit. I expect nothing less than $1,000 in GME; but I had to sell — for the sake of all that is good and fortunate.

I am up 500bps now, 80% cash, in the tall grass waiting for my next prey.

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5 comments

  1. heckler

    My buddy has turned $600 into $30k with GME calls he had before this pump

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  2. soupbone

    The Fed inflates bubbles. A man named Greenspan created the modern bubble and I think he is still king for the housing bubble. They evade any blame and will be the very last to make any admissions regarding what their actions have created. The markets have that power though, and I think the bond market is worth listening to here. Riverboat gambling going on is screaming. It might be just another 1987 episode if we are lucky.

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