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
18,966 Blog Posts

Today Could Be the End of the Rally

All of the ingredients are present for a pause, or slight resumption of the previous bear market. Remember, during the 2011 debacle, stocks fell 17%, bounced 11% — then dissipated by 3.5% over the next two months before taking off. After last month’s orgy of buying, at a minimum, we’re overdue some consolidation.

What does this mean?

It means you might need to sell immediately, irrespective of whether you’re up or not. Your cost basis doesn’t matter — bozo — move to cash.

I’ll be taking my own advice this morning — especially with crude and treasury yields dropping. My largest position is NUGT now — which should run a negative correlation to the market — on the cusp, on the bubble, on the verge, of breaking — the fuck — higher.

Futures are -180.

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4 comments

  1. irma vep

    Good advice but try and get someone who is passionate about a stock, up or down, to take it. The moral:

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  2. edge

    Nah. I see bull flags.

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  3. edge

    The set up as I see it: the gazillionaires have tons o’ cash coming in this quarter. They can buy bid-up stuff now, or buy it even more bid up later.

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