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
21,906 Blog Posts

FULL COLLAPSE UNDERWAY

From an hour after the close last night futures sold off. There was no bids the entire night, barely any periods of lift in spite of a milquetoast Asian session and strong European open.

At the open we head faked with a bid and now we are diving straight the fuck lower, in a bidless tragedy of monumental proportions. I’m off by 3%, almost giving up all of yesterdays gains, even with 42% cash. For bulls, this is a worst case scenario and it’s likely due to the fact that too many people are hopeful, expecting a rally. I did a sentiment poll yesterday and it was almost even bull v bear. The only way we bottom is via cataclysm and by the looks of it we might get it today.

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10 comments

  1. Mr. Cain Thaler

    Stocks are being slaughtered.

    Commodities are getting broadly bid.

    Yields are up (for now).

    Yes, this is the action I crave. I take your daqs and dows and spoos, little rabbit. I make off with them into the night.

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    • Mr. Cain Thaler

      I expect treasuries to catch a bid here but it’s not a signal that deflation is coming. It’s an obvious cold blooded strategic move for large funds; losing an arm beats losing your head.

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    • Mr. Cain Thaler

      Yeah I actually have no idea if we end red. Variance is through the roof. This is a crazy crossroads point.

      But at least commodities are soaring. That keeps the big picture simple and in focus.

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  2. txchick57

    Man you swing back and forth like a pendulum. Try meditation.

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  3. iflyjetzzz

    I will continue to sit on the sidelines in cash.

    This is going to be a multimonth rout IMHO. The bear is in charge.

    I’ll look for turns that can be bought and close out positions before the end of the day.

    The proles are starting to learn that you can’t always buy the dip. Still I wouldn’t go short because the Fed can jump into action at any time and smite down shorts in their tracks.

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  4. Orson

    Looks like Jerry is adding more punch. Keep it up, you’re contributing to an epic collapse taking the defenseless out with the wanton.

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