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
23,417 Blog Posts

Moved to Cash, Expecting Crash Soon

Good day

I was supposed to be up 2% this morning but only booked gains of 44bps when I took my trading account to 100% cash. The pin action is dreadful and BofA is out talking greasy — saying the Mag7 stocks are reminiscent of bubbles in the past.

How dare they!

$SMCI broke through $1000 and now is plunging lower in classic blow off top formation.

I get you want to have fun without consequences because you’re gay. But the world doesn’t work that way and very soon people will begin to wonder why the US10yr is +7bps and try to imagine a housing market this spring with rates cresting about 8%.

It’s going to be over.

I’m not shorting into any decline this morning — just watching — content with my gains for the week and the year. I am hedged a little in my longer term account and might add to those hedges, providing my grim outlook and feeeeeelings follow through with action.

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