Markets are down more than 500 and my initial sense was to sell and book gains in my inverse ETFs; but then I realized if I did that I’d be left without hedges and the market doesn’t look all that fucking great now.
We have a classic risk off environ, with Utes, Treasuries and Gold strong — everything else down.
My two major tells in this tape are NVDA and AAPL. Keep it simple. I am not, however, looking at crude today, due to mid-east tensions.
If you’re buying dips, you’re assuming today is a one off event and somehow Trump will get the art of the deal mojo going again. My sense is this cannot be resolved right away and might elongate itself for quite some time. Then again, Trump is an Apex Narcissist and might pull a rabbit out of his asshole in order to buoy stocks.
One thing I know for sure, betting against stocks for a long period of time is a fool’s errand. I just think, or hope, for more pain and rough shaking of the tree before we bounce. Bear in mind, a lot of fucking retards are long stocks now. They deserve to lose.If you enjoy the content at iBankCoin, please follow us on Twitter