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
18,705 Blog Posts

What To Look For In Today’s Opening Spike

If you’re bullish, you want to see buying with vigor. If we open +450, you want to see a slow boil throughout the day, culminating with a higher open — the very highest of the day. You do not want to see bond yields rally too much, or oil give back its gains. I saw Qatar is removing itself from OPEC, almost immediately, which is a fuckery beyond fuckeries, that will be buried in today’s headline orgy.

Best case scenario, semis lead the way higher on aggressive as fuck volume, poleaxing bears left and right. You want several give and takes throughout the session, in order to lure more bearish fuckheads into the trap, only to later on bury them under a barrage of buy orders.

If you’re bearish, the opening tick will be the highest. From 9:30am on selling will commence, with both vigor and tenacity. Oil will collapse in price and semis will be the first to head lower. This will lead to a 3:30 rout from which lives will be staked on — men trampolining out from windows to spare themselves the indignity of yet another margin liquidation. Trump’s China news will be negated and discarded as a piece of meaningless trash and the focus will quickly shift to slowing growth.

If the narrative shifts to slowing growth, this is a much harder jar of pickles to open.

If I had to bet, I’d bet on Santa. There’s been too much toil and tumult for the young holiday season. After all, the economy is still pretty damned good and Americans are still dumb AF, stupid enough to spend all of their money at the mall this Xmas season.

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