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
23,420 Blog Posts

The Stimulus Check Rally

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.

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24 comments

  1. Woodshedder

    I was one day early on FXP. So sue me.

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  2. Big Mike

    It’s a short covering rally…Look at all the shitty companies…up huge;

    I think its a great opportunity to re-short shitty firms…however you never know what tomorrow CPI’s # may be.
    After all, gasoline prices could be down after seasonally adjusted just like last time.

    Fly, you re-shorting DSL?

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  3. FXP and SKF down so “The Fly” will buy them at the days low? My chair from Staples is labeled “real leather”.

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  4. The Fly

    not buying skf here.

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  5. Your United States Government
    Your United States Government

    Actually, we’re considering making that stimulus check a monthly thing. You know, to support our free market capitalist system. That’s the kind of “bold forward thinking” that will keep America prosperous!

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  6. calvino

    The rally was built on the futures overnight, which were built on the banks of Japan and Switzerland buying the dollar to load up the overnight futures. The news in reality land is shit. Unemployment up nicely. Prices of imported good , up nicely. Stimulus check going to pay for high groceries, nicely. This is the most manufactured bullshit rally yet. All to ceove the death of LEH, which should have the market down 300

    the Calvino sell dollar and buy chf.

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  7. Elmer Fuld

    Fade the wally…fade the wally…fade the wally.

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  8. Asshat Dip Buyer From Nashville
    Asshat Dip Buyer From Nashville

    Bot 1000 DRYS @ 71.9

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  9. Steve

    CPI will have to be at least .5% tomorrow. AT LEAST.

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  10. Ugly Plastic Shoes
    Ugly Plastic Shoes

    Fuck you haters ..

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  11. larry

    Alias: BPOE

    Watch the VIX and the market from 11:00 to 1:00 to see what the program buys are. Don’t overthink this market let the market show you the next move. By the time you figure the uninformation out the moves will be done FUCKERS!!!!

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  12. BooBerry

    RIMM is dead. Sayanorra, bitch.

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  13. the Common Cold & Flu
    the Common Cold & Flu

    AAPL, eat shit, and die.

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  14. Captain Kirk

    Short me, make my day. Loosers.

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  15. Costanza

    This is my kinda rally!

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  16. alphadawgg

    Ugly Plastic Shoes = Costanza.

    Anymore dissenters? We need you to buy the shit we’re selling.

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  17. Ugly Plastic Shoes
    Ugly Plastic Shoes

    Alpha, you a plastic shoe saleswoman?

    I checked in with my voodoo chart person; they say CROX is giving the thumbs up buy signal as slow stochastics cross. Git in while the gittin be good, haters.

    Its just a trade, you don’t have to be caught dead in these shoes, just where them around your house while noone’s looking. You know you want to.

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  18. Delivery Boy

    FDX is a short up 2.

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  19. Asshat Dip Buyer From Nashville
    Asshat Dip Buyer From Nashville

    SLD 1000 DRYS 72.8

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  20. alphadawgg

    My wife’s sister showed up at our house for dinner one time wearing pink CROX. She’s a retard and full time airhead (with big tits). Kinda puts things in perspective, though.

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  21. Big Mike

    wow…what the hell is going on with DSL?

    Must…short…

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  22. BanD

    Check out TMCV. The recommendation came from a MM who said their balance sheet is clean and strong, and that the takedown of the stock is due to guilt by association. Thoughts?

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  23. The Game is Rigged
    The Game is Rigged

    Any pics of the wife or her sister? I love tits.

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  24. Jakegint

    Stimulus check going to pay for high groceries, nicely.

    __________

    Lol. Only here (and sometimes “Protein Wisdom,” check it out) can I come to find such amusements.

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