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
21,316 Blog Posts

Constructive Move Off the Bottom

My friends at Zerohedge are still trying to scare you out from your shares, as the Evergrande non-story just won’t go away. I suspect either tonight or tomorrow we will have resolution in China and be done with it. Meanwhile, investors are on edge and I suspect it’s more of a seasonal thing more than anything else. People love to find reasons to panic and I’d be lying if I didn’t say I am bemused by all of the youngsters out there hoping and dreaming the Fed and the cabal are losing control.

I’ve traveled down this road innumerable times and the Empire always wins, so take it from me and stop betting on collapse.

We had collapse last year March. The entire world was shut down. And then we had the best rally known to man.

Biotechs are best in show today, as customary in bounces. I am not playing individual stocks on this move because I want to ensure no mistakes are made. I am playing this via ETFs and using Stocklabs to time my buys. I still hold more than 50% cash and I didn’t sell this morning and I wasn’t scared we’d reverse down, since that’s what all the cash is for — buying into the blood.

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One comment

  1. irma vep

    Makes sense.

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