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
20,692 Blog Posts

Feeling Uneasy in this Great Big Bull Market

Things getting back to normal stocks are outperforming again this morning, sending the COVID19 vaccine stocks into the sewer. This has been a fairly consistent trade for more than two weeks, accentuated after Russia claimed to have a vaccine cure.

Meanwhile, breadth is once again dreadful and the sense of being trapped is once again all around me. Since I am fully invested, I have an anxious vibe all around me — mostly because the price action on the screen doesn’t mesh with reality.

On the other hand, selling short has been a suckers bet of magnanimous proportions since March. My plan, for now, is to manage my positions — harvest gains and cut losses when necessary. What I ought to be doing, what I am likely to do, is raise some cash and prepare for some sort of fucking downside — because the never-ending ride higher doesn’t feel the same and the narrow nature of this rally is bound to give way soon.

Just my two cents.

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2 comments

  1. purdy

    “Just my two cents.” …humble Fly?

    WTF?

    Just a wee slump. We don’t need to arrange for an intervention do we?

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  2. purdy

    Re peaceful protests: Bret Weinstein has calculated that WWI was 81% peaceful …WWII was 85% peaceful …and the Kennedy motorcade in Dallas was 99.8% peaceful.

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