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
20,570 Blog Posts

The Markets Believe the Russian COVID-19 Cure

The only explanation for today is, like the polio vaccine that Russia invented back in the 50s when no one believed them and shit on it initially, people low key believe Putin and that his daughter has been irrevocably inoculated from the horrors of COVID-19 and its 0.4% kill rate.

Here is the logic.

Markets love crack. The only reason we are smoking it now is because of lockdown. Once the lockdown ends, FAIRYLAND no longer exists and reality seeps thru the facade. Behind the facade of furloughs and temporary lay offs is monstrous ugliness. Once that is exposed, Apple will drop 40%.

Once the stimulus ends, markets crack like an egg.

As such, RATES SOARED today, with the 10yr up 8bps. That should not have happened with the Nasdaq lower by 190. Both gold and silver diving like this also speaks to no more Fed printing.

I mean, silver was down 14%. Pay attention to the details.

I cleared out my accounts today and am all short, with 80% cash.

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13 comments

  1. tradercaddy

    Interesting theory on the markets tanking.
    I believe it was because the World saw you out of longged pants and in tennis shorts.

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  2. purdy

    If the first consideration is to choose someone so repulsive that they won’t want them to replace you, Harris fills the bill.

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  3. traderconfessions
    traderconfessions

    Tennis in this freakin Durham heat? Death wish. Can’t wait to return to a delightful cool ocean breeze.

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    • tradercaddy

      He can do it.
      I play 3-4 times a week for 2 hours @ 8:00 AM in Central Florida heat and humidity.
      Admittedly it’s doubles and with a bunch of geezers on clay courts but still pretty dang hot.

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  4. soonerxii

    when the Fly says he is all short and links to a Drake song it’s mf’n on.

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  5. teslawasright

    Silver back up

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  6. fxtradepro

    Without question the game changed today.

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  7. indie

    Please go read “nothing is true and everything is possible”.

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  8. ha

    Who said the stimulus will end?
    Like QE, it never ends. Brrrrrr
    until the whole thing Humpty Dumpty’s off the wall.
    All is a perfect storm for crypto.

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    • ha

      Gold, silver & Bitcoin will springboard higher. Act now! Supplies are limited.

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      • ha

        Ditto for the lockdown. It will never end.
        No more than that temporary emergency measure, will be rolled back. i.e. the “patriot” act

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  9. rigged game

    Looks like “Operation Warp Speed” got its ass warped.

    Typical Trump result.

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  10. bob smith

    “The Markets Believe the Russian COVID-19 Cure”

    At least Putin isn’t telling his citizens to inject bleach and snort comet like our fearless leader.

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