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
22,158 Blog Posts

BULLISH!

The NASDAQ lifted by 100, following what appeared to be a ruinous open. I took it upon myself to resolutely BELIEVE in the fiction woven for me by my overlords. I am, in fact, BOOLISH now — but not without hedges. Only complete morons invest without hedges.

Here is my prediction:

We rally for the first week, maybe 2, of July and COLLAPSE sloppily and fatly into an open fireplace and fall into the fires for August. The blubber and the fat will burn bright and hot for all of August, as the Russian wars spills over into neighboring Poland and afflicts itself unto NATO. One negative headline can send this market down 10% in a single session.

HAVING SAID THAT, we are at the PRE COVID highs for the IWM. This is as good a place to defend the market as any. As such, I am bullish.

Even so, I’ll be blowing out first thing Monday morning and repeating my process until it stops working.

I finished the session +89bps.

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3 comments

  1. roguewave

    During this holiday weekend, I am ever so proud of our heroes at the Atlanta Fed!

    They have worked tirelessly, risking their lives throughout these dangerous times and at an outrageously meager cost to the taxpayers – and under a great deal of pressure.

    And yet, they somehow managed to nail the Q2 estimate within extremely tight tolerances: +-100%.
    Thank you and God bless our public servants!

    For the holiday I plan to alight a large blob of blubber and let it light up the night sky! I am sure the neighbors will never forget the brightness and the pungent odor of this night. Happy 4th!

    To celebrate appropriately, I just picked up a case of beer made from the finest environmentally friendly toilet waters. And it needs no refrigeration and will pair nicely with a handful of lightning bugs!

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  2. barbee

    Monday be a Holiday. have a great one Boss.
    Had a BULL run thru my yard this evening-def a good sign.

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