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
19,617 Blog Posts

If You’re Short Now — Prepare to Lose MOAR

Listen to me as if I was screaming into your face.

You have no basis to be short here. Markets have all but told you it’s going higher, even after today’s big cocked move to the upside. As a point in fact, often times larger runs occur in esoteric names after massive melt ups. Today advertises to the normies that money is being made and they’ll follow in like lemmings tomorrow.

I told you earlier, big ass cash positions await on the sidelines. I’d like to highlight some of my ideas, but feel increasingly restricted due to my Capstone obligations. Nevertheless, I can readily advise you to be long and in stocks that correlate with the market.

It’s worth noting, FUCKTARDS are still on Twitter talking about topping out and those people will have their faces punched off soon, and strongly. It’s one thing to be a bear, a whole other thing to walk down your portfolio.

My largest position are still gold and it’s not participating today, which is fine. The melt up in stocks is causing defensive positions to be liquidated; but the bull case in gold has never been stronger, literally — when taking into account the record level of wage growth in the country now and the idea that inflation might, finally, be something to worry about.

Regrettably, I sold PYX yesterday, ahead of earnings — because I had no edge. The stock is up 30% today and sometimes that’s how it goes. That stock, in my opinion, will continue higher, at least until tomorrow, as momo traders try to catch a glimpse of greatness and sojourn into profit.

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8 comments

  1. it is showtime

    Trump’s not gonna sign it.
    1.375?
    he would lose the standoff
    the fight/art of deal
    his manhood
    and
    his base

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  2. heckler

    Fly does your kid still use Turtle Beach to play his new game? HEAR looking to BTFO

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  3. chumpdaddy

    One hour in, I noticed weakness in interest rate sensitive instruments, Reits were down, usrt, utilities a little, and corporate bond etfs. This coincided with large gains in financials. This trend seemed to last for the first couple of hours then got covered up somewhat in the buying spree. I actually bought a preferred stock, offering well under the ask, which took a few hours to fill, at a price it sold at 3 weeks ago, which leads me to think that under the surface, interest rate jitters are brewing.

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  4. helen

    You have no edge going long the market here…And,
    would you please sell your gold. You are preventing us long term gold fags from making money in the sector:)

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  5. chuck bennett

    I believe banks only have one way to go in the future.

    That is up.

    They are in the best shape and are there at the best shape at right time.

    Regards

    Chuck Bennett

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  6. jbandy

    I am getting murdered on my short hedges. Sometimes its good to just be dumb and trust that policymakers will always find a way to inflate stock prices…our whole capitalist system depends on it after all.

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