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
23,445 Blog Posts

ALERT: THIS IS WHERE YOU BUY

Whenever people are soiling themselves in their pantaloons — buy.

We are seeing bottoming action in numerous sectors, especially biotech. This is how the market could play out today.

FACE RIPPER — everything up. Maybe too easy.

MIXED RIPPER — biotech/tech up but commodities lower

CRASH THE CLOSE — everything sells off because fuck you.

If we crash the close, this would be as gift. But if you’re all in now — your pink levels will be 100000%. So in order to prevent that, avoid falling into the trap of thinking THIS IS IT, THIS IS THE BOTTOM. While it’s true, it might be. It’s also true, maybe not.

Just because Stocklabs is screaming OS now and we are at technicals levels that demand long only — I am not leaning all the way in. I am still 85% cash, down 1% — avoiding temptation because the big move, whenever it comes, will not only rip faces off but entire heads.

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One comment

  1. fxtradepro

    I agree the USD is now signaling overbought for the first time during this entire move higher

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