Wow, the market just about erased yesterday’s losses, within 15 minutes of trading, thanks to nothing.
Come on people, retail sales were up 1%— only because of the government’s “stimulus” checks were spent by shopaholic fucktards, who enjoy to poleax their checking accounts. Why else would they name it “stimulus checks”?
Take the numbers with a large grain of salt.
What’s interesting to note is moderate strength in energy stocks, despite crude being busted out, down more than $3 here. Also, gold is getting a fortune cookie to the head, due to “King Dollar” rallying.
With the ridiculous [[LEH]] news hitting the tape, I would expect the bagholders, who signed up for stock at $28, to back out of the deal. Or, it will be reworked.
I have every intention of fading this rally with stupendous sales. However, I will be sure to check my emotions at the door, while trading. There is a remote possibility the market can sprint another 200 points from here.
With that in mind, I will look to add to my short positions into strength. I like short [[CHL]], above $70 and long [[FXP]] @ $78 or lower.If you enjoy the content at iBankCoin, please follow us on Twitter