The Dow has airlifted another 400, Nasdaq +200. Admittedly, my positions aren’t doing as well as I’d like to be, so I might need to doing a little redecorating. The notion that a total collapse of the global economy should press stocks lower is now viewed, widely, as a ridiculous absurdity. Why, COVID-19, for all of the death and misery and has wrought upon Main Street, has bee na STUNNING SUCCESS for Wall Street. Men in pinned striped suits and permanent cigars puff into the sunrise — leaving behind a world reduced to ash.
Since I am busy today, dealing with personal matters, I have been unable to trade and can only criticize my current positions as being wrong for this sordid tape. I can, of course, hold and wait for better optionality — or clean slate.
Into the late afternoon hours, I doubt we’ll see any major market turn. After all, WTI is back above $32, and the Dow is steam rolling towards 25,000. We’ve V-shaped the fuck up and that’s all there is to it.If you enjoy the content at iBankCoin, please follow us on Twitter