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

Markets Massively Surge, Annihilating Shorts, Crushing the Hopes of Savage Doomers

Just when the market looked like it was readying to tip over and fall into the blades — BAM — it breaks the fuck higher. Nothing is stopping this stampede of buyers from foraying around and imposing a deep hegemony upon the heads of the shorts. I was mindful to not buy anything that could sink lower on me and feel good about my prospects, albeit I’m underperforming.

I am net long and that’s the way life should be, unless of course we’re barreling towards perdition and the credit crisis that began in 2007 reemerges with a fresh black bloom of doom.

That being said, markets were non-stop to the upside today — because that’s what it does after brief periods of under-performance. If forced to guess, I’d venture we’ll continue higher tomorrow. But just in case, you should have hedges and also lots of cash. This is one big ass white candle and the technical damage is still present and ominous.

But today was a good day, great for some, meh for others. In the span of an entire year, it’s just another salvo off the bank shooting left into the ocean to be eaten whole by whales. You small pikers out there get to nibble on chum and small morsels of shrimp every so often.

Enjoy.

iBankCoin policy update: No more stock picks on free site and free trials for Exodus will be ended tonight. Grifters are to blame. Be well and fuck off.

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9 comments

  1. it is showtime
    it is showtime

    The perennial DB beratement –
    That 1Y chart is that schematics for a water slide DB

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    • MSGT HARTMAN

      Technical analysis. A worthless way to trade invented by large investment banks to get small fry investors to day trade, losing what little they have left.

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  2. omfgitsjd

    Even during this bump up in the market, gold is creeping up and oil is going down. Seems a little edgy to go long here.

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  3. irma vep

    It is not 2008-2009. It’s going to be more like 2000-2002.Global disturbance and a POTUS who is odd; to say the least.

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    • MSGT HARTMAN

      Did you buy your Crystal Ball at Dollar General?

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      • ericbakerbruce
        ericbakerbruce

        She also consults her Magic 8 Ball on whether market will go up or down. Shake, shake, shake…”cannot predict now”

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        • irma vep

          Very funny you guys. I like it when the responses are no more than pithy. Truly. None of this is personal so why ruin it with caustic remarks; only M. Fly, since it is his blog and we know he is the professional, has the latitude.

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  4. irma vep

    Fly, Great music and video pick!

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