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
21,503 Blog Posts

Waiting to Buy

Decent bounce day but I’m not trading it. I sold my TNA at 4am and haven’t looked at the market since 9:30. Well, that’s not entirely true since I just looked at the market now and saw small caps struggling, but not too bad. All of the right sectors are rallying and this could be the bottom, or the end of the faux panic.

Come on people. You know how this ends. We are pretending there are free markets and make believing they game isn’t rigged. Yes stocks will go higher. Yes the Fed will do everything in their power to support stock prices. And yes there will be periods of stress and none of the Fed support applies to your piece of shit Penny stocks.

Into the afternoon hours I’ll likely start buying. I’m u 36bps and the quant is up 1%. This isn’t something to write about in an online bloggery. To truly bottom, we need something spectacular to the upside.

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One comment

  1. Mr. Cain Thaler

    I…don’t know that’s how things end this go around. We’ll see.

    Valuations over the last 12 years were certainly stupid, but they were at least positive definite yielding.

    The reason they were stupid was because if things changed abruptly you could lose a lot of money and were earning very little to bother with that.

    Well…here we are now. Things have changed abruptly. All these positions have negative yield now. Going to be an interesting year…

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