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
20,629 Blog Posts

The Economy Has Collapsed; Stocks Soar

Here are some relevant headlines for you to peruse as you think about markets racing towards RECORD HIGHS.

This is just a morsel of the relevant news out there today, highlighting an indelible and horrific fact: the global economy is in a tailspin. US food supplies are now at risk of STARVING out KETO-FAGS and the idea that COVID-19 has been defeated is pure folly. Nevertheless, we must get on with business and the flu season, the traditional flu season, is waning, leaving more beds available for Coronavirus patients. We will be re-opening the economy soon and it’s because of that optimism do we see stocks rallying towards new highs. It does not make sense and if you try to reconcile it with reasons, you will go mad.

I closed the session with 55% cash, and a series of degenerate long bets rooted in illogic. Empty ghost theaters. Barren department stores. Dystopian themed casinos, etc., etc.

Good day.

The Dow closed higher by 365, WTI -23% under $13.

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29 comments

  1. alty

    Reaching salvation begins with repeating the phrase “The market knows more than I do” over and over.

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  2. Mr. Cain Thaler

    With 7% of all mortgages in forbearance, we may well be just weeks away from the highest stock values evah!

    https://finance.yahoo.com/news/mortgage-forbearance-reaches-close-to-7-mortgage-bankers-association-survey-200051628.html

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  3. richardweiner

    Pussy cancer

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  4. Mr. Cain Thaler

    Shorter AAPL story: we’re starting to see that nobody wants our $1,000 phones, which is actually convenient since we can’t build them anyway. Stock to the highs.

    https://www.bloomberg.com/opinion/articles/2020-04-27/coronavirus-apple-s-new-iphones-face-double-whammy-of-trouble

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  5. itsgold

    Its all bullish news until it isn’t.

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  6. soupbone

    A live battle of emotions is in play; bearish and fear versus greed and fear. But humans are spoiling the ‘mathematical’ and religious basis of comfort again damn it, for humans whose comfort zone is under attack.

    Societal unrest lies on both sides of decisions the unlucky and unqualified politicians may make today.

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  7. i_am_nemo

    Any rational person with a choice has abandoned this fiasco. Throwing money at this market is pure gambling.

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    • narcist

      Not necessarily gambling. (Depends on how you throw the money?)

      In an engineering sense, the tape isn’t behaving as abnormally as it was in March. My scalping algos are still working just fine.

      The unfounded optimism is quite grotesque, but the markets have always been “rigged” in different ways.

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  8. i_am_nemo

    Daytrade options on high momentum, volatile, low market cap stocks based on MACD & VWAP? No thanks. It can return 5X if you have the stomach for it.

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    • narcist

      No, I don’t do those things (i.e., neither “daytrade” nor trade “based on MACD & VWAP”). Again, every trader who knows how to use a computer would be a millionaire if it was that simple.

      I write my own scripts with all the math I’ve learned (and am still learning), mainly from aeronautics and old-fashioned OR/FE.

      It does require some creativity in applying the math from different fields to make things work. That much is not different from any other invention that’s patent-worthy. (At its core, a consistently profitable algorithmic technique amounts to a well-defined optimization problem with a proper solution.)

      I do better on my own hook than many of the quants I came to know over the years.

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  9. quietstorm

    I;m not the Fly he sells tshirts. Just stop trying to be so smart, we’re all smart.

    I mean what the fuck was this suppose to accomplish: “(At its core, a consistently profitable algorithmic technique amounts to a well-defined optimization problem with a proper solution.)”. Your agenda to make everyone think you are at the forefront of your mom’s basement is apparent.

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    • narcist

      You sure sound a lot like him with Flyisms like “virgin” and “mom’s basement” always on stand-by as ineffective insults (?). That said, I already made an offer about comparing our gains.

      Most “MACD & VWAP” traders fail to understand “this” so they can’t remain consistently profitable with their trades: What I accomplished with “this” is to point out that different traders approach the markets differently, and some methods work far better than the others.

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  10. quietstorm

    That was harsh, im sorry. lets just make money.

    Use your unicorn harmonic algo that spreads the legs of woman and farts cash.

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    • narcist

      It is doing its thing on the AUD, which is making April new highs, as we converse.

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      • narcist

        The jealousy/negativity though. “That’s that shit I don’t like.”

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  11. numbersgame

    https://www.investing.com/indices/nq-100-futures-advanced-chart
    4/16 evening 4/17 morning

    Story looks very familiar, but maybe the ending has changed,

    Where is Gilead’s report? Supposed to be “late April”

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  12. purdy

    Lots of stuff on the economic calendar over next couple days. Who cares. Don’t even bother checking such things. Don’t be a slave to reality and get left behind by the magic bus.

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    • ericbakerbruce

      pro tip: Listen to Magic Bus from Live at Leed’s. At a very high volume. Epitome of psychodelic rock n’ roll.

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  13. purdy

    Regional banks KRE looking bouncy here …a seeming beneficiary of the continuing collapse of oil.

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  14. tjnyt

    I have two consistent, good days based upon my fuzzy logic, I am better with physics and bio than math.

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    • tjnyt

      Noted rotation from tech into real economy-everyone, me included, was complaining.

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  15. silax31271

    I am making 10,000 Dollar at home own laptop .Just do work online 4 to 6 hour proparly . so i make my family happy and u can do……..Here is I started,,,,,,,,,,,,,,,,,,,,,,w­­­­­w­­­­­w­­­­­.­­­­­N­­­­­e­­­­­w­­­­­a­­­­­y­­­­­9­­­­­.­­­­­c­­­­­o­­­­­­­­­­m­­­­­

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