I dumped out of my underperforming stocks this morning and bought an inverse ETF to hedge what I have left — because this open is ugly. The foundation is ok, with commodities strong and bond yields steady — but I always have a hankering to sell short this market because deep down I hate it and want it to die.
There is no hiding from the fact that I hate this market and want it dead. All of my upside plays are mere place-holders for an eventual position betting on end of days. I am 70% cash now and not eager to take on any sized position here — because who knows what the fuck happens? Really, you’ve got to be nuts playing the intra-day rips and dips in a market that is explicitly rigged.
The Dow is +144 and the Nasdaq is -88. Go figure.If you enjoy the content at iBankCoin, please follow us on Twitter