The NASDAQ closed down 155 and I know many of you are fixing to toss yourselves into lit fireplaces, unwilling to withstand the fires of the market and the general economy. But before you do, perhaps look at the silver lining of today’s tape. Although Elon Musk is predicting recession for 12-18mos (that’s called a depression fucked face), we enjoyed 50% breadth and numerous commodity stocks closed at session highs.
I shed 60bps in an underwhelming session but feel good being fully invested heading into what may very well be a truly horrendous session. I say this because, like all good things, it’s over. War and famine are all but assured and the notion of higher stocks in an era such as this is fanciful nonsense.
NEVERTHELESS, all we require is perhaps a single day or two to sort things out and make some more coin to fund elaborate and ornate libraries in our newly purchased overvalued homes.If you enjoy the content at iBankCoin, please follow us on Twitter