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
20,688 Blog Posts

MARKETS CRASH THRU LAST WEEK’S LEVELS; PANIC ENSUES

I mock the stock Gods because there is nothing they can do to stop the Fed and the upward surge of stocks. The idea, mind you, that people can lose money in stocks is laughable. In the olden days, I’d sell this tape and go short, eagerly awaiting capitulation. However, from my vantage point, today was an excellent time to sell the trash in exchange for quality.

That’s exactly what I did, as well as get long some 3X ETFs.

Today’s drubbing, off by 4.5%, wiped out my gains for this week only. I am fortunate in that regard and will keep focused on making it all back, and much more, in the coming days.

Yesterday’s retarded tweet by Trump might’ve irritated the level pullers and today’s decline is merely ironic. But let’s not forget, shit went up with GDP tracking at -50%.

Relax, eat a sandwich and fuck off.

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6 comments

  1. heckler

    I like it Big Dick’d into the fog of war

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  2. purdy

    Do the lever pullers want Trump? I’d guess so …what with the way their MSM is ginning-up the Trump base.

    So maybe this decline is just them negotiating. Come on Don, give them war with Iran or whatever. When do I get more $1200 checks? …and when will my $600 a week bonus resume? WTF??

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  3. edge

    How far can it fall? The dumbass Republicans will be forced to kiss Nancy’s ass and pass the stimulus.
    Short something, quickly.

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    • ericbakerbruce

      The Republicans will squeeze Pelosi’s bid old udders. Then kick her in the prison wallet.

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  4. purdy

    covered naz

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  5. alty

    A few months ago this kind of day would have drawn dozens of posts. The bear really is dead. Where’s mr TQQQ TMF?or the futures scalper? Our resident epidemiologist? The guy who trades “all day” based on construction he sees from his apartment window? I’m thinking Showtime and Purdy are the only ones on team doom that understand risk management.

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