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
20,951 Blog Posts

DISASTER LOOMS

Cryptos have broken down again and the resumption of the distribution in the bubble stocks has increased to a level that is almost certain to trigger margin calls and a cascading effect in the market, the likes of 2014, reminiscent of a time and of a place that nearly killed me.

You do not want to keep pressing the envelope. What you should want to do is cast aside any notion of success in the bubble world, while embedding yourselves in risk averse assets.

Early this morning I took a look at the tape, hated it, and went to 100% cash. This is easy for me to do, especially when the rallies are too hard fought and the collapses frequent. The next trap will be an oversold bounce, which most will miss because it entails buying into the sinking Titanic gif. If you try to catch the wave as it crests, you’ll find yourselves, well, crestfallen.

Odds are we bounce this week, after a morbid decline. My Bubble Basket is off by more than 3%, and this is becoming all too familiar. This is not a market that can be relied upon. Therefore, and this goes without saying, your best bets are all intra-day, which is also hard to do now with volatility baring down.

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2 comments

  1. og

    Everyone piling into big tech.

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  2. emersonlakepalmer
    emersonlakepalmer

    Everybody wang chung tonight

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    • 0 Deem this to be "Fake News"

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