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
20,179 Blog Posts

BLOODY MONDAY

Here is why your portfolio is getting lit aflame.

The virus is spread by farting, at a distance of 200m.

On this news, Nasdaq futures are -290. European stocks are being mangled, off by 3.5% — Italy down by 4.6%. Lit the fuck up. Oil off by 4%, gold up by 2%, the US 10yr now with a 3 handle at 1.39&.

HOLY FUCKING SHIT I’M GOOD.

My positions heading into today.

35% cash, JNUG, SOXS, FAZ, and NNVC.

I’ll be updating as the day progresses.

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14 comments

  1. Black Swan

    {flap, flap}

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  2. numbersgame

    Nice momentum play on NNVC, but ***no matter how COVAD-19 turns out***, NNVC won’t likly profit much (see my previous post on this), which means don’t hold it long-term.

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  3. purdy

    Is the US WHO doc now testifying looking for a job with the central committee?

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  4. flea

    Predict: algo’s and dippers will limit damage to close -400.

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  5. jbandy

    Well done, Fly. I got the “raise cash” part and long GOLD part right over the last couple of weeks, but I was too chicken-shit to short especially SMH. I’ve been PAVLOV’d to expect government/Fed interventions at any time between Powell, Mnuchin and promising they will act.

    Enjoy your winning!

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    • metalleg

      The difference this time is that Fed was real worried about the bubble they are responsible for and COVID provides a perfect excuse to deflate said bubble without anyone pointing the finger at them. I don’t think they step in for a while.

      If the central bankers want Trump to win, they’ll step in later this year after he demands it.

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      • numbersgame

        That’s a good theory. We’ll see if they step in or not.

        Simirlarly, if the market does crash and the FED doesn’t step in, Trump will say, “Not my fault,” but voters almost always blame the President anyway.

        However, keep in mind that a stock market crash is one thing, but an actual GDP recession is much worse, and their ammo is limited, so that could also delay a FED reaction.

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  6. numbersgame

    My fidelity accounts read $0.00:

    “(Fidelity is) experiencing technical difficulties, which may impact the viewing of you accounts. This has no impact on your account balances and positions”

    So in their view, not being able to place trades doesn’t affect my account.

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  7. the good life

    *sips Sauternes* (buys boatloads of $AVGO)

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  8. heckler

    nice little ass pounding today

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  9. numbersgame

    China buying like crazy: CSI 300 is up 4% YTD, up almost 20% from the Feb bottom

    The problem is as soon as the Chinese gov’t stops buying, the selling will resume.

    https://en.wikipedia.org/wiki/CSI_300
    https://www.investing.com/indices/csi-300-futures-advanced-chart

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  10. awanka

    Raise the black flag. Spare the women and pigs.

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  11. roguewave

    The best way to play this is with a small manufacturer of ass masks. Long Ass Masks International!

    PS Apologies, for this post

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