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
19,430 Blog Posts

Waiting on Support to Try Longs

I talk a lot of shit, mostly to draw a rise out of some of you. I understand it’s a fool’s errand to be bearish for a long period of time — but it’s so much damned fun. I can’t resist.

This morning I got caught holding a Chinese shit-bag, so I sold it — PDD for a -9.5 drubbing. That was partly offset by my profit in FTDT, +5.3%. I have several others longs down, but I’m mostly cash and long inverse ETFs and gold. I am not adding to anything here, because I have enough shorts and do not want to short into the hole and get hole’d.

I am looking at the IWM closely and do not like the fact that crude is strong. Junk bonds are stable an panic is at a minimum. I’m looking at $150 on the IWM for near term support. Bear in mind, we’re in a new FAGbox and have built it since the beginning of the year. It’s very important we hold this level, otherwise it’s very possible we will see a trend reversal and complete fucking of markets.

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4 comments

  1. awanka

    Ah, Mr. Fly. You saw through this morning’s action like Bran looking at Littlefinger.

    I don’t see matters with China deescalating. Quite the opposite, really.

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  2. wolfdaddy

    Fagbox is offensive your your beta readers

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