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
22,033 Blog Posts

EVERYTHING IS ROT

Chinese stocks are all going to zero. WTI is down 4% en route to negative pricing. Cryptos have topped. US 10yr yields are going to zero. The market as we know it, fat, slow and greasy, is finished.

I thought I was a smart man — but in the end I was an idiot — long BEKE into the fires of China and now I’ve doubled down in my BEKE in order to save myself from damnation. I was having some fun at the open, trading the recovery, but now that is over and now my losses are near session lows — OFF BY 85bps.

I wish I could offer you, the unwashed pleb fuck reader, small gems of wisdom and mustard seeds to be viewed and possibly enjoyed. But none of that is here. The market are gay men clad in Burqas and the bears are the Taliban shooting us with AK-47s.

Naturally, I will attempt to do something to save myself. I always do. The tera caps of corrupt American shit filled C suites is doing fine — only down 28bps. And the risk averse portion of the economy is TUTTO BENE. With yields dropping to zero, you’d be very wise to own some.

But this is no life for a trader, having to bear witness to UUP and TLT being the best performers over the past 3 months. This market makes me sick and I am tired of not making 10% per day, like in the olden days, and I crave for a semblance of normality and familiarity, but this is foreign and doesn’t really connect to me soul — if there is such a thing.

53% cash, gonna put some to work in another attempt at redemption.

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3 comments

  1. irma vep

    Get vaxxed; maybe things will turn around.

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  2. purdy

    Just when things looked so bleak for the US v China, it was very nice of the Chinese to announce that they will be moving away from capitalism in favor of emulating our communist welfare state.

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