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
22,270 Blog Posts

STOCKS PULLBACK A BIT OFF THE HIGHS AS EXUBERANCE REACHES IRRATIONAL LEVELS

Before you declare victory over the bulls, consider this chart you fucking morons.

Yes stocks are SHARPLY off the highs, especially in the really high risk areas. But if we’re being honest here, and you all know “The Fly” is unable to lie, this pullback looks like consolidation following a mammoth run higher. WE WANT STOCKS LOWER. WE WANT A FULL COLLAPSE. But we don’t always get what we want, do we?

I wanted a full head of hair and a nice wife.

Into the final hours, I will maintain a 70%+ cash position with a 10% UVIX position. I like the VIX sub 20 for a potential gorilla move down. Again, WE WANT THE GORILLA MOVE down, full bananas. We will hope and pray it happens. But with our money, and when I saw “we” I mean it in the royal terms, we will be cautious because we are +51% for the year and we do not squander elaborate gains.

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4 comments

  1. juice

    The good news is, you can still get a nice wife.

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  2. macpatton

    I don’t understand…. I have a nice wife and a full head of hair.

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  3. soupbone

    When the going gets tough and they stick around, its all good.
    I met some people from Germany today, very old friends; they feel Putin will fail to grab Ukraine due to certain sanctions. Plus switching off Russia energy entirely is a needed sacrifice. Pretty heavy shit. But we mustn’t forget how much Europe hates Russia, as it is far deeper than our superficial stance this side of deep water.

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  4. duuude

    Me too. The too young first marriage blew up of course…spectacularly !!!

    Bipolar adventure

    Plan accordingly.

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