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
20,414 Blog Posts

DOUBLING UP ON AFRICA — $JMIA

Lots of shit going on here today. Last night Peter Navarro said the Chin trade deal was ‘over’ and futures immediately dropped 400. He later said “just kidding” and here we are — up more than 200. The whole thing seems and feels like a charade — but the money is quite real.

In light of all this social change, I felt emboldened to DOUBLE UP on my Africa play — JMIA. I know, this is a company colonized by greedy Germans for the express purpose of exploiting Africa. But if you think about it, this business model works for everyone. The Africans get packages sent to their homes and the Germans get to be Germans — controlling stuff and creating order out of chaos.

The company is, more or less, a piece of shit — so trade with caution.

Gold is spiking again. But I sold out of my NUGT yesterday. I might revisit towards the end of today, but not now. I do have a few irons in the fire; but I’d be lying if I said I didn’t feel uneasy about chasing this market higher.

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7 comments

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