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

Market Gaps Up: Still No Interest

OMG THE NASDAQ IS UP ALMOST 100; WE ARE SOOOO LIT.

No interest.

I had positioned too heavily short to benefit from this open and after I sold it all my gains are only +13bps. But that’s ok. Some of you following me in Stocklabs will need to be patient and accept the fact that some tapes are for pillaging and another tapes are for hiding out.

The NASDAQ is down more than 3% the past week and I’m up 1.3%. That’s all that matters to me.

I was hoping for a Friday collapse and we might very well get that. I closed out my shorts because I don’t like waiting around for good things to possibly happen, when I could merely go to cash for a small gain without risking anything. You can say that I’m risk averse.

Commodities are a little soft, but so are the brains of people chasing this market. My best guess is for a Friday collapse. I really truly in my heart of hearts want it to happen. But before we can get to that, we need to shatter some dreams throughout the day and hopefully by afternoon we might have a wonderful rout on our hands.

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4 comments

  1. txchick57

    works for me. I still have a load of uvxy/uvix

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  2. Orson

    I’m bearish until they stop interest rate increases .I don’t understand the need to be giddy. At least 2more to go. If Jerry is serious about “price stability” there will be many more to follow. Imagine if the US adopted the Austrian theory back in 2008?

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  3. bambam

    No reason to chase..

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  4. the_wolf

    Energy & Ag
    Presently 897%

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