It was a delightful session, for me anyways. Markets shot out the gates like a cannon — thrusting all of the little people across the field — strewn and lazy, tired from the chop. They had all forgotten, markets did not bottom on Fridays.
Mid-afternoon news struck the tape and it raped everyone who was overweight and leaning long. The news was Gilead’s drug is NOT as good as people thought, similar to Dr. Trump’s hydroxy. The point is, the COVID-19 is an incurable scourge that was designed to decimate the elderly and the infirmed, the sort of eugenics the nazis could have only dreamed of. Now we are seeing it live and in action and there is really nothing to be done about it but sit inside of our homes and wait for the winds to pass.
I took today’s tape to DOUBLE DOWN on my shorts, book gains in gold and a day trade in BYND.
Here were my results.
SQ +2.5%
KL +5.6%
AU +5.1%
BYND +2.7%
Into tomorrow, I am 15% short in leveraged ETFs, long some gold, a sub $1 oil stock, a crypto proxy play, and some tinned foil. Cash position is 65%.
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I mean, Lyapunov was crying out loud about the imminent droppage when ES was above 2830 earlier. I left a note two threads ago. (I will sell the puts later tonight.)
This one was rather easy.
Closed out the puts. Q.E.D.
Gilead is toast
https://ibankcoin.com/flyblog/2020/04/23/gilead-antiviral-drugs-flops-trials-markers-careen-lower/#comment-571420
Good. Fuck em.
Chinese study. Who do you trust – a controlled study from Univ of Chicago? Or an uncontrolled study in China where they have claimed now for the third time that this drug doesn’t work? Several reliable studies on this will be out in the coming weeks, your comment will not age well.
gold still works for whatever reason and I hold metal, sold the equities. I have next of kin in a long term facility; not too big a place, about 120 residents: 34 have died and 77 have covid-19 as of several days ago. No one goes in or out since weeks yet it still sneaked in. The staff likely carried it in.
Wow that LV mayor is pretty whacky.
Oh, God. (And, on God.) Need her to be the co-chair of Democrats for Trump.
So far, they seem to be intent on doing it yet again
Pandemic legislation to date will further concentrate wealth. At some point they’re likely to realize that they’ll have to give more than $1200 to the eaters …right? Or are they all going to go to the Vineyard and watch the meltdown on TV?
Overthinking it. The Illuminati realized $1200 a month won’t keep the lumpenproletariat from rioting is all.
The very wealthy have moved to their vacation bunkers. Civil unrest starts among the poorest and spreads outwards. It won’t be a problem until people go hungry for a few days. It will happen in other countries before it happens here.
Mcconnell is making noises that sound like the money spigots might be turning off soon. It’s the first time I’m hearing a side advocate fiduciary responsibility and the word “restraint” since this began. I’m sure there is a cynical angle behind it.
Amazing that he wants tob bail out corporations but let the sates go bankrupt. That’s very Trumpian, because the Rich will actually be hurt quite a bit if states go bankrupt.
Quick way for states to solve the wealth gap:
1) Sell a lot of bonds to the FED and anyone else who will buy them.
2) Give out “Pandemic payments” to everyone.
3) Declare bankruptcy
Cereal Rapist
What I’m wondering is …if they are looking to protect their wealth so they can buy back at lower prices ….how much destruction will they permit before the cycle repeats? And can the cycle repeat? Has it been pushed too far? What precedent is there for an empire controlling its erect schlong? Are we really the cleanest shirt?
I stopped worrying about ultra-rich after I received a stimulus check for $221. My hypothesis of money= electricity stands on firm ground. Ultra wealthy are like black holes, where Feds creation goes to die. And when they die they can’t take it with them.
Think about it seriously for a moment; what will happen if Fed’s loot all ends up in the hands of poor?
1. First, they will gorge themselves to death with cheap American bounty. I often tell my patients, our heart, lungs, and kidneys are not made to service a 250 lb plus body.
2. Second, all the decent people here who are concerned about environmental damage to our planet, the consumption by the rising sea of humanity is causing, have EVER pondered if the money flow was reversed from rich towards poor. How soon this planet will become inhabitable for humanity? ( Ever heard this question before in liberal or conservative circles before?)
“un-inhabitable”
It’s bullshit like this that allows wealthy Conservatives to sleep at night. Just like they hate abortion but don’t care about suffering children oce they are actaully born.
Rich countries are the the most environmentally destructive and dirtiest (not unhygenic) in the world: They produce more pollution per capita and create more trash per capita. Then they export the trash to poor companies, like the plastic recylcing myth.
Do you think poor people buy new appliances everytime one breaks or fix their old crap?
Do you think poor people tear down kitchen because the counters aren’t granite?
Or tear down whole house becuase they are only 2000 sq feet?
Or throw away produce food because it is oddly shaped?
Get a fucking clue. I’m guessing that you were born into the top 30%, becaues you sure have zero idea waht living poor is really like.
Good point, the most noble people on the planet are people who don’t work. They use the fewest resources.
Motivated, hard working people really disgust me what with their pollution and such. Best just to live off the government. Money printer go brrr….
You think work is only noble if you make a high salary? Unsurprising.
I was only talking about the US, you turned it into developed/developing/underdeveloped country debate.
Next time you meet someone with a job making under $40 (there are stil la lot of cashiers working), ask them how they are going to spend their stimulus check, Dr. Silver Spoon.
the “top 30%”??? Pretty sure everyone reading this is in the top 30%, and probably the top 10%. Numbersgame, please enlighten us, what country do you live in? Just curious…
There’s a differnce between being born in the top 10-30% and gettign there yourself.
Ken Burns just produced a documentary about a piece of Atlanta’s past:
https://www.pbs.org/kenburns/east-lake-meadows/
Worth watching. It’s representative of what every big city had to deal with (similar to Baltimore’s Lexington Terrace that was called “Franklin Terrace” in The Wire) in the last 80 or so years.
Ken Burns goes to Supercuts.
This is just like the bullshit (lelite iberal and conservative) argument that we can’t make things in the US becuase they will be too expensive and no one will ne able to afford them.
That copy of Das Kapital that you sleep at night with under your pillow may be giving you some neck spasms for sure. It shows.
The uprising would have happened if FDR wasn’t there to stick-save capitalism from itself.
The argument that FDR was some sort of brilliant savior of the economy is elementary school teacher fan fiction.
The man won 4 presidential terms. I would hope the depression ended some time during his presidency.
As it was, the Depression lasted through his first two terms. His programs spent a lot of money and a couple provided long term benefits but none of them did much to cause a recovery.
Tsk-tsk. I have no use for you and your pseudo-“scholarship” and alternative facts.
The counterfactual is what would have happened if the economy was to continue with Hoover’s policies instead of the New Deal, which substantially reduced the economic deterioration.
“Negroes would have died like flies if he hadn’t kept his hand on the money until it got to them.” So said William Dawson (R-IL) soon before he died, who was loyal to Hoover and learned how the “free market” wasn’t infallible the hard way (by seeing the suffering of his own people in Chicago) till FDR came along.
Making thing in the US isn’t socialism
WMT’s $364 bln market cap would like to have a word with you.