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
22,140 Blog Posts

THE BUG BOTTOM

It was at the very bottom of today’s tape the lads inside Stocklabs Pelican Room started to discuss the delicacies of bugs and how one might serve, for one’s family, pancaked made from cricket flour did the market bottom.

I’ve been doing this a long time and never have I bore witness to such desperate men craving for the meal to come. It is my opinion, at least in the short term, the market has bottomed.

Sick on the couch all day, I traded on instincts and not based upon what I was seeing, a playbook in my head based off of years of stock market excellence. I closed +12bps, 27% cash, 10% hedged via FAZ.

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