The Dow closed down more than 1,400 points, wiping out yesterday’s rally clean — leaving a little tip to boot. I did a full 180 intra day and went long FAZ, cleaned out my longs, and remained long tankers and one virus stock. The news is fluid and the ramifications are horrible. The advice given on CNBC is worse than during the financial crisis. All day they had shills on, RIAs, talking their book.
There used to be a guy in my comments section bragging about his ETF returns. How they doing now pal? How do you feel getting HOT ROLLED AND FUCKING STEELED into there teeth of a bastard credit crisis?
MBS spreads blew out today. BA plunged 17%, sending CDS to record highs. Everywhere you look speaks to crisis of an unprecedented nature. The NBA will play without crowds.
And here we are — general entertainment sector getting nailed to the wall — cruises, playgrounds, concerts BTFO.
REITs took the biggest ass hammering today, with credit crisis CRE names like SPG and MAC knifing lower.
One of the largest emerging market ETFs got wrecked and continued to decline.
Lots of reasons to fuck off and stop telling people to just dive in there. National disaster declaration is being rumored now in order to free up FEMA coffins and their money. Trump is chimping the fuck out, overseeing the greatest bubble to have ever existed deflating in real time — executing buy the dippers with malevolent alacrity.
IT WAS SO ORDERLY.
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“executing buy the dippers with malevolent alacrity.”
Buy the diapers you mean.
A little reminder.
Crack 1 was a warning shot
Crack 2 was a demonstration
The takedown, the leverage, the sabotage, a cord pull
Crack 3 will be the nail
it is showtime March 11 2019
ibankcoin.com/flyblog/2019/03/11/bears-eviscerated-close/#comment-559152
Now playing at a Main Street theater near you,
the perfect storm of Contagion +
an Entertainer/Casino Bankruptor-in-Chief
who only cares about his # of red hats,
his mushroom dick,
sycophantic loyalty and his ratings…
send in the hazmat clowns and
bring on the FEMA Trumpvilles…
https://en.m.wikipedia.org/wiki/Hooverville
say what? a declaration of disaster? Ouch, now Trump will become the point man. don’t know how that’s going to go for the President.
My biggest complaint is finding an entry for my trades. This market is just choppy enough that it triggers my stops. Other than that no complaints.
15 straight winning sessions.
And yes I’m entertained.
How are Disneyland / Disney World not closed yet?
Trump took Omaba/Bernake gift and ruined it. He’ll go down as THE worst president we ever had. Absolute moron. Figures since everything he touches fails and he touched this market or tried to intervene. I’m rooting for Biden and that guy is senile! Granted we were due a recession but damn. Way to toss away 4 years in a month. Chimp is being too kind.
Wasted a decade long recovery on tax cuts for those $10M +
Really the best part is NO ONE KNOWS WHAT THE FUCK IS GOING TO HAPPEN! I thrive in chaos. This will be a paradigm shifting event. Living the history is well worth it.
If the virus does die down and things chill out, will retailers like Costco be big winners? I hear that nationwide they are selling out of all kinds of stuff.
It could be Costco or crypto dude who knows
Pulling demand forward. If you own 1,000 rolls of toilet paper when the virus subsides, are you really going to buy any toilet paper for the next 5-10 years?
Lots of perishables being purchased too. It’s not a long term play but it could help their next quarter for sure, which could make it a popular RIA pick for a bit while other companies take earnings hits
Fly, at this point if the coronavirus issue goes away, will it even be enough to fix the financial problems?
Or is this now a financial crisis?
Doesn’t seem the corona virus issue can go away in the short-term.
Even if it could, confidence seems damaged.
Nasdaq still trading 500-600 pts higher than when the Q4 2019 melt-up began. A little perspective for you.
I suspect that, though markets may again pop up a bit, we haven’t seen anything yet. This country and our “leaders” have not even themselves acknowledged the severity of this bug. I am, and have been, fully short. Out of stocks – except for day trades and overnight virus quickies – Out of pms – Out.
Yes, seems like it’s far from priced in by most.
The President will speak at 9 est tonight. I hope that, if he brings the VP and the rest of the virus team, that the team simply issues a preface-atory statement that they all think that the president is awesome and that he has a big penis – – that would save a lot of time.
Where is the so called plunge protection team when we need them. Rally this bitch.
This is like printing money. I totally would LUHHHHH to have 4 more years of Trump Bear Market.
What are your favorite short plays?
Long all things tech and stay-at-home consumption and short everything else.
The sharpest hedge fund pals that I keep in touch have been in the long Nasdaq-short Russell 2000 trade for weeks.
Cool, thanks
At this pace, Dow 20k won’t hold by Friday the 13th.
I just HAD TO sell a very large number of /ES and /RTY contracts at 6PM as soon as I heard during the 5PM hour Trump was going to give an “address” tonight.
Shaping up to be the most profitable trade of in all of my 37 years. God is great.
Just closed the short positions. This shit is getting silly.
Everyone here knows you are full of shit.
Translation: You morons are sour grapes.
Have a good night!
Of course you had to sell at 6pm after hearing about a Trump address at 5pm and then posting it at 946pm. Most Trump hater fake traders did the same I’m sure
Trump would crash the market. It didn’t take a genius to figure that on out.
*one
BTW, and of course, I wasn’t the only one doing it. Literally EVERYONE in my Whatsapp went short during the 6PM hour.
Okay, fine, not everyone–at least my mom didn’t do it.
Just to clarify, I neither top-ticked nor bottom-ticked my entry and exit. I’m good but not that good. I left plenty of profit on the table and it’s alright.
Rehypothecation Risk. Beware the dangers of leveraged Etfs (read the prospectus). Also, a ban on short selling. Fly knows; he will enlighten you. Not looking good after the Trump’s address.
Narcist – go fondle a cat
Major Airlines Kaput. Do they go bankrupt and shares evaporate? Think American Airlines chapter 11 in 2011.
Trump dropped a nuke. What an incompetent piece of shit.
No one has died (yet) on WS from the virus, but there is blood all over the street.
Trump knows bankruptcy law. Shareholders get nothing. Bondholders get fractions on the dollar. The damage is spread to every American in the form of higher prices via inflation. It is a no win situation.