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
23,471 Blog Posts

Markets Visited Depths of Hell, Then Reversed

Look, I’m in this thing on the long side, one way or another. I will not sell out here, at extreme oversold levels. I’d rather fucking die, literally. In my last post I laid out a scenario that might be playing out now.

We entered the opening tick with hope; futures had been up around 70. Immediately, biotech stocks, a leadership group to the upside and downside, underwent severe selling action. Then the whole market followed it down into the pits of hell, plunging the NASDAQS down 22ish.

I published my post, went to go get a swig of cyanide (I am building an immunity to it) and voila, the fucking NASDAQ is up 22!

Now this is a text book key reversal, one that might mark a near term bottom. Or, this could be a god damned trap, one that ropes us into a false sense of hope, then drops the dick guillotine on us like a motherfucker.

Either way, it makes for interesting conversation (awkward smile).

NOTE: GILD and PANW are your risk barometers.

If you enjoy the content at iBankCoin, please follow us on Twitter

10 comments

  1. rigged game

    Your site still is infested with adware.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Dr. Fly

    and you’re also an asshole

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. t.c.

    In my opinion I Bank Coin is worth about 7 Business Insiders and the Fly is worth about a 1000 Wiesenthals.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. tradingnymph

    Yep the Bulls are all buying this UGLY UGLY mess to hold SPX 1880. IMHO not sure why we went over SPX 1755ish, my Shanghai Copper Bubble popped and still this market moved up…really silly imho.lol. Such a Big Mess.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. stockslueth

    I’m just going to say this once: Magic 8 Ball.

    • 0
    • 0
    • 0 Deem this to be "Fake News"