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
19,239 Blog Posts

Crude Needs to Bounce Here

Boring morning, except for crude plodding along the bottom of its recent range.

Truth is, while markets are strong and biased to trade higher, if crude breaks lower again — the rally will dissipate and it won’t be long until people start worrying about the fucking junk bond market again.

I have a few things to sell this morning — underperforming assets. I’ll likely move them to cash and wait for resolution.

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5 comments

  1. edge

    Oil will likely provide our wall of worry. Too much supply. But that will keep 125 gallon fillups at the lake relatively painless. Less painful. Take your pick.

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  2. mrcharlie

    DDL was bad ass in that flick, scary fucker

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  3. edge

    Sold GUSH -7%. I’m down 1.5% in UVXY. May unload that today. How ’bout them chips?

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  4. edge

    Bye bye UVXY.

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  5. edge

    TECL may outperform TQQQ.

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