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
18,854 Blog Posts

Futures Are Soft Following Weak Chinese PPI Numbers — But It Means Nothing

Some of you have gone wayward this evening, after gazing into your computer screens and bearing witness to Dow futures down 150. These same people have given up drink for drugs, in the name of avoiding hangovers and calories, and dare stare into the mirror, with their figurine bodies, and call themselves men.

It doesn’t matter what futures are saying tonight, or what the opening tick might be tomorrow morning.

Truth is, I just wanted an excuse to talk shit. Let me tell you what I really think.

I think we’re now first entering the Fagbox — the indelible situation that I forewarned you about — exclaiming 6650 on the NDX was no more or less than a foregone conclusion.

Now that we’re butting up against it and attempting to defy the laws of reason, it’s very likely we might fail at or around these levels, give or take 50 points from here — bechancing a grave concern led to the downside by oil stocks and the fucking barrels they came into this rally with.

My chart.

I created that chart weeks ago and haven’t altered a single line on it. Bear markets are brutal affairs, cruel mistresses and dangerous bedfellows. They’ll give you aids and make sure to ruin your families and cast everyone you love into the poorhouse.

Bottom line: let the rally fail before reversing course. If we’re heading back lower, we’ll retest the lows and there will be ample time to become DRIP Gods again.

About those PPI numbers.

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9 comments

  1. chuck bennett

    They will start building cities on the moon. Shortly

    Regards

    Chuck Bennett

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  2. jbandy

    Nothing changed. Global economy slowing, China slowing dramatically, and Old Europe is at risk of a recession. US Corporate earnings peaked. Stay long US stocks—I dare you.

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  3. J Adabese (your pen pal)
    J Adabese (your pen pal)

    I liked your last post better. It comforted me. Then this.

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  4. chuck bennett

    We need a war, a big Beautiful war.

    Peak is priced in.

    Regards

    Chuck Bennett

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  5. roundwego

    What about change in Chinese tax? Is that something?

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  6. bronze28

    MJ stocks set to continue; CGC/NBEV/ACB/APHA

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  7. tjnyt

    i ‘m down 4% to up 1. sideways or blast up, hart to tell.

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  8. tjnyt

    Up 4 %, energy to the rescue.

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

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