Once upon a time this morning — we had it all. I was up more than 2.3%, coming fresh off a totally legal takeover win in VLTA — 100% long into HORRENDOUS PPI numbers. Nothing could stop me. But then the market started to crank and the gears stymied from LACK OF GREASE and the mechanisms that kept it running COLLAPSED and prices followed with it downward into a never-ending stream of pain and blood.
In this post Apocalyptic world I now write to you from, I am merely +16bps. The real tear jerker in all of this is I knew it was coming and did nothing to stop it. The only reason why I am even up now is due to fast paced and frantic hedging along the way lower. At one point I was 50% short on top of a 100% long book for a 150% leveraged book of sheer fuckery.
The Dow is off nearly 400 and the NASDAQ -81. These aren’t largess losses; but the psychological damage is enough to give people PTSD. We are afraid of a snowballing and rolling downward into the fires where the recent gains might endure the pangs of a slow death spinning on one of Satans pitched forks.
Why is the market lower?
Some argue because Fed’s Powell caught COVID. No one gives a fuck about that or him for that matter. We only care about the FOMC as an institution and what it can do for us, in terms of rigging. The market is down because Pax Americana is over. The idyllic Main Street is now FESTOONED with Tranny rainbow avatars prancing about with Ukrainian flags, clamoring for Russian blood. No one did anything to stop it and now it’s too late.
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Look at the bright side, Fink is getting his ugly ass slapped by the red states. “The S in ESG stands for Satan” Elon Musk.
Back to the your reliable crutch of “lucky hedges”, eh?
Are your orders “Fill or kill”, or do you have charitable
specialists and market makers? If I put in limit orders,
they would NEVER fill unless the trade would be a bad one.