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
23,417 Blog Posts

MARKETS DISLOCATE AND BREAK ON COVID VACCINE NEWS — MAJOR OUTAGES AT BROKERAGES REPORTED

This is what happens when the deep state wins.

We have a COVID-19 vaccine on two fronts today — Pfizer and also Moderna. Pfizer is actually ready to deploy by next month!

Wunderbar!

Also, since The Era of Joe is beginning, look for a major stimulus package to pass the house — and it will save everybody. We are looking at BACK TO NORMAL stocks in the real estate, airlines, and hospitality sectors up more than 20% today. Hawaiian Air is up 50%. No big deal.

On the other end of the spectrum, social distancing stocks are getting stormed, thrashed lower by 8%.

OSTK, ETSY, PTON, ZM, DOCU — all lower by 20%. Also, not a big deal. This is totally normal pin action.

The Dow is +1,200 points and most of the online brokerages have fucked the fuck down, reported outages whereby plebs are LOCKED IN, forced to bear witness to either carnage or euphoria.

Also, as a side addendum, WTI is higher by 10%, gold is -4%, and the US 10yr is +11bps to 0.93%.

In other words, we are back to normal again. Who knew all we needed to cure COVID-19 was a nice democratic election!

I moved to 100% cash, down 220bps for the session. I have since bought 6 stocks for trades. Also, my long term portfolio is down 500bps and my Quant is down 280bps, so this feeeeeeeels like a down day to me, especially since I was positioned in stocks doing well now, not so much Feb of 2020.

UPDATE: My Quant is now down 1% and LT down 2.3%. Things are broadening.

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20 comments

  1. tradercaddy

    Sold all my energy stock etfs and OII stock within 10-20 minutes of opening (Good thing Hurricane is hanging around- should have been playing tennis).
    Short hold period of 5-10 days but don’t wanna be a pig besides now I can retire.
    Oh wait!
    I am already retired.
    Maybe I will go find a part time job.
    Chick-Fil-A can always use a retired attorney to make chicken biscuit sammiches.

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  2. purdy

    “Gentlemen, shouldn’t we wait a bit longer after calling the election? How will it look?”
    Snickering… “You’re new here …within one news cycle, it will look exactly as we want it to look.”

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    • roguewave

      Sadly Remembrance Day in the UK, – forgotten
      ·
      Nov 8
      Very sad that veterans and widows cannot attend Remembrance Day services. We will remember them in isolation.
      Nigel Farage
      @Nigel_Farage

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  3. purdy

    After a snow last week in our Green Mountains retreat …it’s been near 70 degrees and sunny since Joe was declared victor. Is there anything that man cannot do?

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  4. metalleg

    The “Era of Joe” = 1-2 months?

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  5. nocigar

    Big pharma gets their revenge on Trump. Americans lose again. Don’t expect any serious attempt at controlling drug prices by a Biden administration.

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  6. roguewave

    Test the effectiveness of your mask at home, simply:

    1) Put your mask on securely
    2) Place a few drops of perfume or aftershave on a surface near you.

    If you can smell the them; you will be INFECTED when you encounter the virus.
    Your placebo mask will not protect you.

    3) Have your will witnessed. Say goodbye to family and friends.

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    • purdy

      Chris Christie’s fine. Relax, have a cheeseburger and fries.

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      • metalleg

        I dunno about you but my N95 underwear allows me to fart wherever I go undetected.

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  7. og

    Weird day. Not sure how to play things now.

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  8. alty

    Portfolio at new all time highs, up 15% from Feb peak, 47% from March low. Our guy got elected. Vaccine is here. Life is good my friends!

    Narrator: And that was the top.

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  9. emersonlakepalmer
    emersonlakepalmer

    cuing narcist in 5,4,3,2,1……but but but I tode you’s Biden was da Messiah

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