This morning I made the decision to relinquish my emotional desires to preside over the market under flames and ashes, in favor of longs. I sold my inverse ETFs for losses and ate the pill like a man and pressed on — in spite of the heady session which looked like it wanted to roll over for most of the day.
My tell was small caps higher by 4% and copper +2.5%, in spite of the weakening. My actions, once again, led to fucking gains. I did not break or fold, but adapted, like every trade should, to the whirlwinds around me.
A few orders of business to discuss.
ALL THIRD PARTY ADS ON IBANKCOIN HAVE BEEN ELIMINATED.
AN iBC MERCH STORE WILL BE OPENING SOON
THE FLY WINS AGAIN
God speed.
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$XOM up more than $GILD today. This makes perfect sense.
Tricky territory next week. You can still “win” with the right stocks. Wish you well on your holdings.
Sell in May will be proven to be the right move once again if the COVID-related economic shocks turn out to be more permanent than “transitory” (a loaded word/adjective in academia)–as I continue to believe to be the case.
FUCK those ads they were always a plauge. Speaking of plauges BULLS have started what is now certainly flamboyant clown parade.
Being a bear truly is degenerate and miserable work. But this gay parade must fucking stop!
I’m am down on my EXPE and basically flat on my VISA positions. Might have to sell, but I will only immediately start stalking new shorts at this point.
We only have these options. ATH, range here, or motherfucking DOWN.
Those are always the options though.
But it’s usually not motherfuckering PANDEMIC. I am thinking FB for the next short. I HATE them and too many pikers own the name
I can’t see how this continues, but I also can’t see wanting to switch into bonds here. I am long specific trades and building a short SPY position. Hard to feel right about any of it.
youse are trying to puff 40 year old feather pillows. find something new.
There is no technical or fundamental analysis at this point. It is all headline risk/reward.
The funny part is all the big moves happen after-hours/pre-market.
Some study may come out in a couple of weeks and say that Remdesivir is no more effective than Tylenol.
I’m seeing retail traders getting destroyed. A lot of the TA hasn’t worked in the last two weeks.
Just reading the tape as it comes and controlling risk in real time.
Yeah, because they draw stupid lines on candlestick charts and fool themselves into thinking they are some bigtime experts.
Even random high school dropouts would be rich if it was that simple.
If it was that easy everyone would do it for a living.
There wasn’t much technical or fundamental analysis in the first months of 2009 either. Stocks kept drifting further and further from the moving averages and P/E ratios skyrocketed.
The known unknowns (a Rumsfeld term that I’m fond of) are always endogenous in the calculations. It’s just that their role matters more in times like these.
Pure continuation patterns are working, just no reversion to mean or reversion to trend stuff.
Really surprised at the rebound in Shopify. Small businesses are getting hurt right now.
If you’re a small consumer goods business, your wholesale business is way down on no foot traffic so where do you sell? Online. Who has an easy to use, affordable and scaled e-commerce platform designed for small businesses? Shopify
Sure, a risk with Shopify is small businesses en masse thinking The first thing they can scale back on is digital advertising which drives e-commerce sales. That’s what your competitors are doing. Do the opposite
wrt those ads, as one of my high school teachers used to say,
“You are a gentleman and a scholar.”
Not to me of course.
Those new pop out ads are quite amazing, if somewhat aggressive. Why just yesterday one of the pop out ads, popped out of the screen, grabbed my lunch and slapped my secretary’s butt before trying to jump back into the screen. He was halfway through when he got both barrels from my iBC-engraved double-barreled sawed-off shotgun. I had a special holster made for my office chair.
Sadly, my monitor was mortally wounded during the altercation and didn’t make it.
I can’t wait to order one of the OSC’s as soon as they appear in the Merch store!
That’s Orbital Space Cannon for the newb’s.
Look at QQQ. There are industries that won’t recover for at least a year and nasdaq is trading at Jan 2020 levels. The whole world is shut down and the market is acting like its no big deal. Never put anything past the Central Banks.
Picture Jerome Powell sitting in Tony Montana’s chair with cigar in hand. Mission accomplished
I’m still thinking on the Chubb post question Le fly. Why should insurance co’s pay for something they have already determined to leave out of their clause before being sold to customer? The responsibility is on the purchaser of said insurance. Purchaser should be saving money instead of buying lambos and maxing out on houses and credit cards and such to mitigate risk of uncovered pandemic and rapture events that weren’t covered in what they agreed to. That said if insurance co’s, get hit bogged by a thousand tornados ripping across the us in a week, we all know where they running
Ibc merch store is live
https://ibankcoin-merch.myshopify.com/collections/all
Ambulance chasers are gnawing at the bit to sue any company that supplies drugs to covid victims. Give it a month and you will see commercials “if you lost a loved one to Corona and they were treated with ‘name the drug’ you can be made whole” . They have to do it because nobody is driving and thus fewer car accidents.
“Our economy looks like an ICU patient pumped with enough stimulants to win the Tour de France on a unicycle.”