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
21,000 Blog Posts

WHIPSAW’d

I’d like to forget about today. I went from +240bps to down 90bps, finished at -35bps. I basically hedged, sold everything, bought everything back and more — and closed out the day more confused than how I started.

Big assed new taxes is of course a negative for stocks. CNBC can eat a bag of dicks trying to spin this in a positive light. However, nothing is definite and we haven’t even heard the official news yet. For all we know, this is FAKE NEWS.

Long story short: a doubling of the cap gains tax will be RUINOUS for trading. Let’s hope Jim Biden isn’t that fucking stupid. If he is, then we have to get net short.

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One comment

  1. natehois

    Expect the worst

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    • 0 Deem this to be "Fake News"