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.

Love gold and think it goes higher. This is just one of those trades that you’ll see me revisit over and over and over — because of the potential upside. However, fuck that shit, I’ll be damned if I’m to be caught long into a head and shoulders top.

When gold gets to 1,320-1,330 — be careful.

Enough of this fucking crackhead. I don’t care how many hundreds of billions this fool accidentally slipped into. The self-professed bond king has an issue with simple arithmetic.

Let’s go through it.

The SPY is +12% for 2019. Over the past 6 months, it is down 3.5%. Over the psst year, it is up 0.5%. The definition of a bear market is down 20%.

“The stock market was and still is in a bear market,” the founder and chief executive officer of Doubleline Capital said in an investor webcast on Tuesday. He also said stocks could go negative again in 2019.

I don’t give a shit what this person has to say anymore, Hannibal looking motherfucker. SAAS stocks are lighting people’s fucking faces off. Bears are getting their legs sawed off and their arms ripped right from their sockets. There is nothing, whatsoever, aside from the faint memories of late December —  to suggest or imply that we could be, or have been, in a bear market.

We’re on the other side of it now. Before, the spray came back around and into our faces. But now, now we preside over the indices spraying freely, directly into the faces of all those below us — indecorous creatures, poor, ravaged, forked, radishes.

Now I have a story to tell you, but you’re not ready for it yet. The evolution of this site has been one of regression — folks splayed out cross the interwebs making fools of themselves. If not for me, most of you would be completely lost in this wild jungle of a market — angry apes cracking open your skulls in search for bananas.

I felt the misery and the angst this morning, seeing both DRIP and LABD sack me for some coin. I then tethered into NDRA, only to see it barrel lower. I had a choice to make — book the loss and pretend it didn’t happen, or man up and double down on this loser of a stock, just for the hopes of keeping the dream alive. I chose the latter, because I heeded the advice of JFK and chose the hard route — built atop gravel roads doing irreversible damage to my tires. But the road is wondrous and the backdrop is pastoral, brighter greens and blinding white — the smell of winship infects my persona. It haunts me in the dark and when I sleep.

Adding to my positions was easy, since gold broke loose — I doubled up in NUGT. I also selected several lotto tickets for end of day adventure: AGEN, RETA, and SEEL.

I averaged up in NUGT, based upon the law of Mathematica and reason. We have a clear breakout in gold now.

I bought NDRA and then I bought it again. I stand before you a DOCTOR OF MEDICINE — doing rigorous research and partaking in scientific experiments of the secret kind — all the while investing, mightily, into upstart scientifically based equities.

TRY TO STOP ME.

Basis for NDRA is $2.52.

I played stickball in a parking lot in Brooklyn as a boy. I didn’t grow up on an oil derrick, like I’ve led some to believe. I’ve never been an oil man. I was more of a street man — cavorting around the 5 boroughs in search of a good time. As a young adult, I listened to rap music and played chess in my spare time. Again, I never was an oil man.

The older I got, the more delirious I became, often yelling at shadows in my bathroom, declaring myself to be a “DOCTOR OF MEDICINE” on the internets. When people would ask, ‘what sort of medicine do you practice, good sir?’ — I always answered ‘the good type.’ I went thru periods of manic, trading the stock market, becoming accustomed to the many eccentricities of its character. I took on these traits and made them my own — ‘CEO of Exxon this, the Guru ar Disney that.’ I became a living embodiment of all of my trades — ‘VIX TITS ALL OVER YOUR CHEST.’

It has been a long journey, but I can confidently say, without equivocation or pause, I am most certainly not an oil man now, never have been or will be. Now I say this now during a curious moment of self-introspection. I warn you, there will be a day, typically after a period of zeal, that I will hop on here and declare, once again, to have grown up inside of the Texas Tea, breathing the embers into my lungs from the fires that grew bright in the night, as my Father lit a cigar to celebrate yet another massive oil find.

This is a lie.

I might tell you that I grew up inside of a special part of Brooklyn, one rarely talked about by others because it possessed so much oil — we kept it secret. These riches enabled us to buy off the press and make everyone keep quiet about it. We had so much money, we had our own police force and even went as far as to erect a wall around our property, in order to keep the riff riff out. Behind this wall, which was festooned with barbed wire and pictures of people killed for trespassing, was an immense amount of oil — just sitting their in pools as black as tar, visited by families who wore clothes from the late 19th century, umbrellas on sunny days — men in their T model Fords smoking their pipes and listening to their children frolic in the car as the yankee game was being broadcasted through an antiquated, yet wondrous, tinny car radio.

This is also a lie.

In my previous post, I feigned acceptance in the fact that BPTH had risen 37% AFTER I sold it.

Lo and behold, the Gods decided to make management file an offering, thereby nuking the share price.

I am now happy to report to you the stock has collapsed and the universe is back on its proper axis.

Honest to God — I do not feel bad about this at all. I ended up stopping out of this stock yesterday for an 8% loss. If my cost basis was better, I almost certainly would’ve held into today’s open — because that’s the play — right? The end of day rippers become next morning rippers for lotto winning lottery tickets.

I’m not mad, mind you, because I lost the right to own it. I lost the right, mind you, because my cost basis was poor and wrong.

I could’ve held and then risk a monster loss, which not only creates bad habits, but it messes up the flow of things, having to incur outsized losses.

Had I waited, literally 5 minutes, my basis would’ve been 5% lower and I would be enjoying a 38% rise right now. Instead, I am fucking blogging to you faggots, trying to convince you and also myself that I’m not mad, bro. Not mad (dot dot dot) at all.

Thank God I closed out the majority of my shorts on Friday. Still, I took a fucking drubbing in LABD and DRIP today, as is customary whenever I decide to be an inverse oil man. On top of that, I took a hazardous trade in BPTH that ended with an 8% loss — because I was pining for the big dick swinging days of late last week. But those days are over and all we have now is upside surprise in stocks — an overall melt up befitted for gentlemen in high finance.

My Quant sperged out, higher by 2.25%.

I took OLED for a quick spin and bagged 3 points intra-day — and I bought some SOXS here for the downside reversal to come. I’m still long NUGT and have about 70% in cash inside of my rudderless trading account. I’ve been so degenerate in that account, trading in low brow names for quick profit, I am a fish out of water now that the overall market broke out. Oh, I also bought some OKTA today, in order to gain some exposure to SAAS.

In short, this is the level where I went short last week, so we aren’t breaking out or anything like that. We’re just vacillating and consolidating recent gains. Should we break higher from here, I will take all the shorts off and reallocate long.

And, yes, you can buy stocks even though they’re high. Bull markets are built upon gains that compound.