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
21,399 Blog Posts

FADE ALL OPENS FOR THE REST OF YOUR LIVES

How many times does this need to happen before we learn — never trust the opens. All day the “broader indices” show strength but the good folks in Stocklabs, outfitted with the very best analytics and tools, knew better. The smaller capped names were getting drilled all day and can see that through a chart of the IWM.

Lo and behold, the Russell gave it all up, resulting in RUINOUS LOSSES for those who bought the open with the hopes of making it.

Look at our themed indices, DRILLED from the highs as represented in % from session highs. This of course was telecasted at 9:30am when SAAS stocks opened down 1%.

On the other hand, I’m an Ethereum Millionaire again and I am hopeful for continued gains — but would not be surprised if we pulled back viciously this weekend. To celebrate this momentous occasion, dare I suggest buying a very RARE ETH MILLIONAIRE HAT?

For the session I made 70bps, pushing my gains to 5.1% for the month. At the highs I was +1.1% and pulled back in the final hour. I threw on a TZA hedge and will most likely repeat on Monday what I did today, which is sell my longs first and keep the inverse ETF, as the market fades back into the red oblivion which it has lived in since February.

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

5 comments

  1. barbee

    That purple hat is gorgeous. I’d buy one but that would be ‘cultural’ appropriation.
    HAGW

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. warpig

    Sir, I bought a hat already on the last run up

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. soupbone

    From fade all opens we progress to fade all rallys. There’s something ominous in the air and the weekend might see it gel. Subtract possible stimulous and we are left with nothing and the music stops. Is the stimulous big enough and correct enough to prevent, I doubt very much.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. 2 wheels

    Russell pulled back today but overall had a decent week. March higher continues next week.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. roguewave

    The People’s Ledger

    Sounds like something the USSR would’ve come up with
    if they hadn’t crashed through the floorboards.

    https://www.rogueeconomics.com/bill-bonner-diary/the-feds-all-out-war-on-your-money/

    • 0
    • 0
    • 0 Deem this to be "Fake News"