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

Markets Fades Hard Because the Market is Sick and Woefully Bloated

You all thought today would be a grande day — didn’t you? You saw the FANG stocks lifting the NASDAQ futures and felt as if that meant your piece of shit stocks would partake. How do you feel now?

I was up nicely in the pre-market and when the market opened my gains dissipated quickly, so I sold everything. As a point in fact, I would propose you sell everything each and every morning before 10am. We have hourly tick data in Stocklabs that points to this being a real trend in 2021. Fade the open — buy back in after 1pm and repeat. Ideally, you sell in the pre-market.

I am presently up 40bps and 85% cash, waiting on one runner, bullish on oil pipelines. The internals of the market are sickening — 46% breadth, leadership in defensive areas — a full blown rout in SAAS (-3%) and all of the other bubble stocks are CAREENING lower by 3%.

This is what you are to do now.

Liquidate and wait. Liquidate and wait. Liquidate and wait.

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2 comments

  1. emersonlakepalmer
    emersonlakepalmer

    Masturbate and wait

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  2. og

    noticed the 7am thing as well but I’ve been too greedy or stupid to sell each day. Fuck…

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