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
20,951 Blog Posts

It’s Really Over This Time

You’ll want to feel like you did last month, a common trait amongst all addicts. You’ll throw your money around sentimentally, hoping to repeat past glories, running headlong into brick walls hoping to find a road etched into it like in the Wile E Coyote cartoons. I hate to be the clarity you need, since I do not enjoy being the bearer of dreadful news. But it’s over. The bull market might not be gone — but the speculative bubble that was going to take us to the moon and back is nothing more than a faint memory now, a moment in time when people got carried away.

Prices are deflating in a number of “hot” sectors and has been for more than a month. There wasn’t ever any underpinning behind this move; therefore, it will transcend and sink into dust.

I have take blows today, as my NFT gambit fell flat. I am presently off by 240bps, but have already begun redecorating my portfolio and more importantly mentally preparing myself to deal with this new reality. Like you, I too want more and to see the sun rise over PLUG and to see Elon Musk’s net worth balloon to $1 trillion while also watching him shit on the SEC.

The new reality will be rooted in fundamentals and slow moving stocks — molasses dripping off the counter into a sauce pan. Slop it up.

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  1. emersonlakepalmer

    I’m buying palladium on the advice of Richard Weiner. He’s the big swinging dick around these parts.

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  2. purdy

    Russell approaching uptrend line …covered short (but don’t mistake me for an optimist). Now short S+P. …and finally, VIX waking up to end times.

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