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
22,015 Blog Posts

Are We Cheap Enough Yet?

I’m feeling under the weather and may very well be DYING of COVID-19. If I do die, just know that I was grateful for not having been vaccinated, seeing the FDA just approved booster number 5. I’m here alone in my dark cold basement, sleeping on a very uncomfortable chair with moving boxes all around me.

There was some data I wanted to share and some of it looks good for potential upside buying action soon. Basically, the bull case is stocks are down and normally when the mood is this grim bottoms are put in. The argument against a bottom is the fact that we’ve yet to see massive unemployment numbers, which are coming soon and in a big way.

Ok, here’s the stuff I wanted to share.

NASDAQ FUTS are up 80. If we gap up, I’ll likely just move to cash and take what I can get and then reload at the close.

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18 comments

  1. Mr. Cain Thaler
    Mr. Cain Thaler

    Sometimes things are darkest just before they’re about to go pitch fucking black.

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  2. longrun

    Yep. Never had the vid. Never been vaxxed either. Really it is all in your mind. Strong salt water gargle and you’ll be good as new…

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  3. john galt

    No vax, had it twice. Keep moving and eating. It’s design is the unhealthy, don’t be dumb and forget how to live. Fun to watch markets and crypto, always fooled on how it plays out. Again I have no skin in the “game”

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  4. john galt

    Seems like luna is in trouble

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  5. metalleg

    Señor, wishing you a speedy recovery.

    If you do happen to end up in a hospital, please DO NOT allow them to administer Remdesivir. Long story but you can do a lot of research about it on the interwebs and you’d understand why.

    I underwent a 5 day treatment back in January and regret ever having done it. That said, I’ve suffered no I’ll effects up until now so perhaps it doesn’t harm everyone but you don’t need it to fight covid.

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    • ezthere

      Remdivisir saved my in-laws life.

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      • metalleg

        How do you know for sure?

        I can make that same claim as I went into the hospital with covid and pheumonia and felt fine 5 days later.

        Do some research on Remdesivir before you give it credit for saving lives. It has a very murky history and many reputable people claim it’s toxic.

        Fauci’s fingerprints are all over it which may be all you need to know.

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  6. Cricket

    Are we cheap enough yet? No.

    Especially all those high end video gpu cards that are the backbone of crypto-mining operations. Those are going to get a lot cheaper.

    Right now everyone is worried about inflation. But asset values, that have buttressed the economy for the last 20 years (driven by the Fed) are deflating. Big time.

    So which is it? Inflation or deflation? Depends upon which side of the wealth divide you’re on; deflation of assets for the wealthy, inflation of goods for the poor.

    Of course in the 1930s deflation of assets eventually fed a general deflation as companies could no longer afford to employ people. It kicked off a deflationary spiral.
    Will this happen again?

    This doesn’t end well, and there is nothing the Fed can do about it. Of course, the wealthy won’t stay wealthy for long if assets deflate sufficiently.

    This is why taking the country to War will be seen as a solution. But it’s not, and a lot of people will die.

    Sorry to hear you are not well Fly. Hope you get better soon.

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  7. tha pirate

    Welcome to the Democrat/Socialist/Islamist plan for the economy along with their front man dementia Joe.

    Let’s go Brandon!

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  8. discoordinated
    discoordinated

    I think long term we are not cheap enough, but the short term oversold appears to me like more hedge funds getting pulled. There seems to be no differentiating between companies with a future and companies that were complete garbage. I know this happens all the time but not to this level.

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  9. tha pirate

    The far left MSM media outlets are reporting that even as gas prices spike Brandon decided to cancel oil & gas lease sales in Alaska, Gulf of Mexico!

    Brandon (or should I say his handlers) even cancelled the Cook Inlet lease in Alaska. This is INTENTIONAL folks, not an accident.

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  10. txchick57

    I hope you’re not dying of Covid 19. You’re my favorite Fintwit personality and I’d miss you.

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    • metalleg

      Is that all he is to you?

      A Fintwit personality?

      He’s everything to me.

      😉

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  11. purdy

    All cause mortality from the MRNA vaccinated is higher than for the non-vaxxed. Yet they keep pushing boosters and, most disgustingly, selling idiot parents on vaccinating their young children. Congrats on getting through the past couple years of propaganda without getting vaccinated.

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    • bob smith

      A bunch of my friends agree with you so you might be on to something. On the other hand, they’re all dead, so there’s that…

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  12. roguewave

    Leverage can kill.
    Interest rates up, assets down (stocks, crypto)
    Anyone with asset based loans, especially variable rate are toast.
    More damage to unwind.
    Will real estate reverse a bit or take a breather?
    But where to hide? What bounces first?
    Place your bets. You have no choice. You must be in something.

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