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
21,250 Blog Posts

This is NOT the Bottom

I sit here amazed at the fucktards who are calling a bottom in the market.

Get this, since 1970, after going lower in January, the market has averaged a loss of 11.5%. If we bottom here, it would represent the smallest decline EVER, in the month of January.

Fuck that.

With gold rocketing higher, financials shitting the bed and the consumer in the septic tank, there is no reason, aside from a short squeeze, to go long stocks.

Use this rally to reduce your long exposure. Otherwise, before you know it, we are diving, hitting the lows again, and you’re over there crying like a little bitch.

Today, I will do nothing. My largest short position, via [[FXP]], is up. Therefore, there is no need for me to add to the position.

If anything, I may sell [[LEH]] short, again.

Developing…

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10 comments

  1. Gunners

    are you going to stay long CMO?

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  2. Shorticus, Demigod of Financia
    Shorticus, Demigod of Financia

    Take MER with your, my son.

    Wired House.

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  3. The Fly

    long cmo, yes.

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  4. malt liquor Bull

    DECK,short,again

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  5. WhoMe?

    When is MER a short?

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  6. Longhorn

    Fly,
    A case could be made for the market setting up for another leg down, or a bottom forming. It’s too early to tell right now.

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  7. Art Vandalay

    Shorts are getting pinched. Next they will get squeezed. Bear balls in a vise. Crank it up.

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  8. Woodshedder

    Longhorn, you’re right, this time it will be different.

    Of course, I’m kidding.

    You guys buying into this oversold rally as THE bottom are going to have a tearful reality check coming.

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  9. Juju bear

    This little bitch run up in the market has no legs and no volume.

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  10. Juice

    It may not be the bottom but I say you gots to be playing both sides of the plate here for a little while.

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