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
23,545 Blog Posts

Pro Tip of the Day: Never Short into This Candle

The FOMC did not hike rates, leaving them at 5.5% — but left the the door wide open for renewed action. Bullshit. The immediate knee jerk reaction was to sell down stocks. Typically these sort of large red candles, as you see below, are great buying opps.

Believe me, I’ve shorted into them before and at times made coin. But 9 out of 10 times I got my hat handed to me. Don’t be tricked into believing collapse is happening intra-day based off some bullshit news item.

I am constructively bullish here for a number of reason. Primary concern is the cessation of rate hikes which may lend fervor to the idea that CUTS might be next on the Fed’s menu and not hikes.

That being said, I’m 30% cash, no hedges.

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One comment

  1. metalleg

    Your next post must include the red flashing police light.

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