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
19,909 Blog Posts

STOCKS COLLAPSE ON TRADE WAR NEWS

The fuck out of here with this news flow already. We win the war, we lose the war — over and over again until our brains are mush and we believe nothing on the teevee.

Stocks see modest downtick on latest report suggesting the phase one trade deal between the US & China (ETF: FXI) may not be completed this year

Stocks are almost down 200 and I don’t give a fuck. I’m 35% cash and all of my stocks are up. I cannot and will not cede to the weakness inherent in the hearts of traders. We are long overdue a vicious sell off. But will such a tragedy befall us ahead of National Festival Day? I think not.

Nevertheless, a good mind is a strong one and a strong one knows it’s best to have cash reserves during periods of uncertainty, as is the case now — judging from all of the headlines — Trump to the stump and China is filled with liars.

Top picks: Gold, drugs.

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11 comments

  1. richardweiner

    The Fly is that guy who says “You’re Whalecum” Instead of “You’re Welcome” because he thinks he’s funny.

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  2. jbandy

    Trump is desperate for a “win” with all the negative news flow. Plus, the strong market/economy is the only thing he has a prayer of campaigning on and winning. This is a nothing burger.

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    • ferd

      Yeah, he needs a strong economy. But deal or no deal, negative news flow will continue. And it is that negative news flow on which he’ll continue to campaign. You need to go to a Trump rally and see all the “Fuck your Feelings” and “Grab ’em by the Pussy” tee-shirts.

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    • MSGT HARTMAN

      Tomorrow when you wake up Trump will still be President.

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  3. og

    Will the market care this time? It’s shrugged off all the recent negative China trade news.

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    • numbersgame

      You can’t prove whetrehr there will or won’t be a Phase 1 trade deal this year. Bullishness interprets this optimisitical, even if it has been 5 to 6 weeks with zero progress.

      However, any trade deal will be a piece of shit, just like the Negotiator in Chief himself.

      So it stand to reason, that it may be better for the market to believe that te Emperor’s trade deal is going to be Great, rather than signing an actual deal that will turn out to be virtually invisisble. The evidence is in front of you: the market is at ATHs, yet clearly the macro-economic outlook is worse than it was a year ago.

      Given all this, it may be best for Trump to wait as late as possible, given that the econmic reality/boost for the trade dael will be more psychoclogical than financial. Of course, this thinking is way too deep for someone as emotional as Trump. The timign/contetn of a trade dael will be based on this (in order of priority):

      1) Trump’s pride/ego: he hates China and doesn’t want to look bad
      2) Trump’s wallet
      3) Trump’s popularity

      Point #1 is the only hope I have of not gettign a bad deal

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      • jbandy

        Agree–ironically, we might get a monster sell-off were the China Trade deal come to fruition because ultimately it won’t have that big of an impact on the economic slowdowns in the US and China.

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      • soupbone

        N: You like smoke and mirrors, that will soon flush out.

        j: A monster sell-off will have a huge impact on economic slowdowns.

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  4. fixurrss feed

    Time to announce a Phase 0.5 trade deal. Dow up 500pts. Yea.

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