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
20,200 Blog Posts

SHORT SQUEEZE INTO THE BELL

This is not the tape to fade, at least not yet. We’ve got a wall of worry 1,000 ft high that needs to be climbed. The trolls from deep underneath the bowels of the earth and rampaging thorough-out the countryside, eating all of the strawberries and drinking all of the cream. Those evil men, orcs, will be dispatched soon.

My position is to trade gingerly, but not in an effeminate manner. I have balls the size of cannon grape, but I don’t feel particularly brave now, so I will trade small in size, but BIG in concept. I am very long gold — because the recent declines in the miners have been wildly overdone. Also, I like some piece of shit stocks that have ample levels of cash, one of which was bought inside Exodus today.

The orcs will tell you to sell short now. I think they’re wrong. Eventually, they will be right, as the demand for “retesting the lows” grows. For now, markets want higher. I stand by my opinion that your long term portfolios should be in cash in favor of a more direct approach. to investing — trading the ranges.

Enjoy the fervor for the fires still burn in the distance.

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14 comments

  1. soonerxii

    up in heaven, Ramp is joined by Merrick and both are smiling as the shorts get their faces ripped off.

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  2. bd gainz

    @the_real_fly Appreciate your advice on the long term portfolio. I’d bought earlier and was staring at a 7% portfolio loss coming into today, but was fortunate to exit at near highs of the day and fully recovered my loss. 100% cash now…sitting and waiting.

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  3. numbersgame

    Good post. I’m not making any major moves until more data on the COVID-19 comes in so that I can tell where we stand.

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  4. numbersgame

    An update on Drain the Swamp:

    “CNBC’s Kayla Tausche reports that President Trump and VP Pence held an investor call this morning with Wall Street heavyweights to discuss the markets, the Federal Reserve, and economic reopening.”

    Glad he “only care about the workers.”

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  5. awanka

    Would take a brave soul to be short into the close with the the aid package about to be approved.

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  6. it is showtime

    Pretty funny:

    Index bazooka with Vix holding: 60

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  7. alty

    Hold all, buy more, eat sandwiches. Winning is easy that way.

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  8. i_am_nemo

    You can’t shut the country down or the world for over a month. The leverage in the system is too great. This is a delaying tactic to get respirators and ppe gear made and distributed. I take care of my 82 year old dad. I am fortunate that I work from home.

    Many people can’t do this. It is a true gray area. Do we let it all burn down now? Do we try to kick the can a little longer?

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  9. fluxcapacitor

    Waiting for your AMERICA IS DEAD, PART 2 post to mark the bottom (again).

    Friday would be good, the market never bottoms on Fridays.

    Glad to see you’ve still got a bull market in comments-section-retards going on here.

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