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
23,417 Blog Posts

Markets Will Never Trade Down Again

Hopefully this blog jinxes the market and causes a really bad crash. I don’t think stocks will ever truly trade down again. I keep waiting and hoping for it and preparing for it but it never comes.

Into today I was ready, mostly cash with a short etf, eager to see the blood flowing heavily and yet nothing happened but more upside.

I was forced, mind you, to sell the etf and buy a bunch of degenerate stocks. I didn’t want to do it — but I’m duty bound and had no choice.

One thing of note is $IRBT – a spectacular miss and the company has been complete shit since the Amazon deal fell thru. The product is fantastic but the revenues keep collapsing. I only mention this because I own some in my strategic longer term account and will likely add to it tomorrow. There are a few turn around plays I like, one is $IRBT, the other is $WBA.

With Walgreens, I think people have PTSD about the place after killing so many people with their COVID-19 shots. But once people get over that and black people stop looting everything in the stores, we might have a nice bottom in place here. Revenues are strong but the looting is causing some issues, if I don’t say so myself.

All fixable problems.

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