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
21,322 Blog Posts

I DO NOT SHORT INTO THE HOLE: FUCK THE BEARS

All day long I heard people say “this is it — this is the big one” based upon an event in China that has been telegraphed for months. Fuck off — this is not how black swans work. This is not Lehman or Bear — this is a giant Nothingburger.

How do I know? Because it is.

This is drama for the cannon fodder. Go ahead and confuse yourselves and trade both long and short. Let me show you my charts.

Inside Stocklabs, the % of large cap stocks collapsed to just 8.5% at the session lows. The RARE Hybrid 12 mo OS signal flashed too and then we bounced like a motherfucker into the close — posting 9 or 10 straight candles in a row.

The last time Stocklabs ranked less than 10% of large caps bullish was 7/19. See the results?

Moreover and this goes without saying, initiating shorts with the VIX +35% for the day is fucking retarded. We can gap down tomorrow, of course. But are we likely to collapse the open based off news that can be neutralized with one presser from the CCP?

No.

I added to my upside ETFs today, holding more than 55% cash and I will deploy it all tomorrow, should be drop again.

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8 comments

  1. og

    Goldman and the Clinton Foundation coming to save the day? https://twitter.com/CaptainNasdaq/status/1440017476557881344?s=20

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  2. rigged game

    THIS is why we come to this site – to get your MARKET opinions.
    We don’t give a fuck about your personal off-hours insta-microtrades.

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  3. roguewave

    Jawboning now expanding to crypto.
    buy the dip?
    @GaryGensler
    · 36m
    Tomorrow at 12pm I’ll be live with @washingtonpost to talk about cryptocurrency.

    Livestream will be here ??
    https://washingtonpost.com/washington-post-live/2021/09/21/path-forward-cryptocurrency-with-gary-gensler-us-securities-exchange-commission-chair/

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  4. soupbone

    I find the China issue usefull. In any case things have changed lately and inflation is it, interest rates longest and worst enemy. Hoo Haa.

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  5. Mr. Cain Thaler

    Okay I still agree with you, China is bailing them out.

    But how fucking ironic would it be if Chinese communists of all people force US banks to be capitalist and accept investment losses again?

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  6. ezthere

    Le Fly, any good charts on CDS blowing o u t? And who are they. Thanks

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  7. flea

    Annnnnnndddddd ……………. it’s gone!

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