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
19,777 Blog Posts

Markets Set to Surge At Open; $BA is Completely Fucked

With 737 Supermax death traps being grounded worldwide, it’s only a matter of time before the FAA is forced to act here at home. If one of those fuckers nosedives into a ravine somewhere in America, BA and the FAA will be, inexorably, fucked for the next 100 years.

Unease about one of Boeing’s most popular jets mounted on Tuesday after the deadly crashes of two 737 Max 8 aircraft in under five months.

European authorities banned the planes, one of the most important aviation regulators in the world to do so. The decision followed earlier moves by aviation regulators in China, Indonesia, Singapore and Australia, as well as carriers in Africa, South America, and North America, to ground the jets.

With the decision by European authorities, roughly two-thirds of the 737 Max 8 aircraft in the world have been pulled from use since an Ethiopian Airlines plane crashed on Sunday, killing 157 people.

One country holding back: the United States.

Buying puts on BA here isn’t the worst idea.

Markets look to sperg out higher in the AM — +65 on the Dow, +35 on the snazzy nazzy. Only my AGEN lotto ticket looks any good thing morning. Other than that, I have a double sized position in NUGT and too much cash.

Both gold and oil are edge-lording higher and there is an overall sense of victory in this tape — completely and entirely whimsical and wondrous.

On a separate item, the state of NJ is about to legalize pot for recreational use — affixing an excise tax of $42 per oz on that fucking shit. I don’t know how people got brainwashed into believing pot was good for you — but it isn’t true and this is more of a end of days scenario playing out than doing the public a service. Sure, give it to be people who need pain meds. But the idea that smoking pot can lead to a more productive society, outside of musicians and poets, is something of a comical farce.

If SMH breaks $105, I will sell my SOXS.

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9 comments

  1. edge

    Already sold SOXS. As for pot, they’ll smoke it legal or not. Police chased it for 100 years, not a dent. NUGT all I got. May try S&P puts. Or SMH calls or oil.
    So much confusion.

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    • edge

      Leaning toward SMH, oil, with SP as a hedge. For now. Confusion reigns.

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  2. edge

    As for BA, what do you expect? We’re in a trade war with China, and we’ve stirred up a fair amount of shit with Europe- who has Airbus to defend.
    More proof that Trump is an idiot.

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  3. JakeGint

    You sell BA, I buy. Knucklehead Edge is the blind pig who finds a truffle– it’s about the trade war, not the 737. To Edge-doof’s continuing chagrin, there will be accelerated winning. Buy $BA.

    ___

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  4. edge

    I’ll keep finding those truffles. BTW. I sold BA right before it crashed. LOL. it was one of my core holdings…I’ll buy it back when it’s time. Stupid fucker.

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  5. edge

    Got distracted and forgot what I was gonna say.
    Vix is in the Fagbox. Whoda thunk. Careful with those shorts.

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  6. edge

    Bought GUSH SOXS SPY170P. Also holding NUGT.

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