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
20,795 Blog Posts

Stocks Wander Lower — Everything is Safe and Wonderful

The NASDAQ is presently down by 85 but there isn’t any need to worry. The Fed will simply print more and when the junk bonds go down — they will simply buy more. An interesting note out of Reuters today shows recent junk bond offering getting FLAYED — down more than 20% since priced. I am sure it’s just an aberration and ‘market forces’ will soon correct this dislocation.

I am cashed up, but also hedged — just in case. I bought 3 stocks today and have high hopes for them. But to be honest, there isn’t anything I am passionate about anymore. It’s all a facade and we’re all playing a game of whack-a-mole. If I made money on XYZ — it’s only because I was crazy enough to buy.

We’re in a fairly stable and predictable upward channel. $140 on the IWM should be viewed with trepidation — maybe. We might offer a jocular look lower for a day or two — but rest assured — the market is controlled higher.

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3 comments

  1. one-eighty

    With President Nero and the Failure-in-law in charge of the Pandemic response, we are definitely going lower. Way lower.

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    • wolfdaddy

      That TDR guide the way! Keep shorting!

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      • one-eighty

        Love that the syndrome of being disgusted with a leader that is delusional, incompetent and incapable of taking responsibility for anything is named after Trump.
        Love it.

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