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
22,033 Blog Posts

MARKETS CAREEN HIGHER — NOT CHASING

No Sir — I will not chase.

The Stocklabs 4000 Index is higher by 1.6% this morning, led by all of the nefarious scoundrel stocks that knifed lower yesterday. There is of course a chance the wall of worry is scaled higher for more than just 1 day. But I err on the side of caution in bear markets, which is why I am at recourd highs and you’re still trying to dig out from your own grave.

I went to cash this morning, only leaving my underwater FAZ position intact for the time being. I will close that out too and be 100% cash, up around 1-1.25%.

My algo driven account gets closed out tomorrow and that fucker is +7% today, fully long via TQQQ based off the Stocklabs oversold signal. That account has been used exclusively for oversold signals in 2022 and is now +18.5% for the year. My quant is also up 1%.

But this isn’t about me. You’re either reading for enjoyment or to glean into my warped mind for financial advice; but I will provide you with neither.

Good day Sir!

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2 comments

  1. john galt

    I picture mr Wonka, no bs don’t eat it

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  2. the_wolf

    Bear market rally, communist China and tech stocks will continue to get clown punched,

    There is Continued rotation into Energy & Ag

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