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
23,419 Blog Posts

FLUSH OUT

We started off so promising with both the Nasdaq and Dow soaring but alas within 30 mins of trade it all dissipated and gave way to orcs foraging the countryside for fresh meat. This is very typical of a panic, especially small bounces at the open, as they get sold down and drilled out until the last bull is left holding his own balls severed from his person.

I didn’t sell because I’m on “vacation” and not really able to assess the tick tock. I cannot short while doing things into what might become a +500 NASDAQ session. And also, besides, we are deeply oversold and I have 45% cash left aside exactly for these reasons.

There are times to cower and other times to be slippery and then there are times to be obstinate and firm. SIRS — now is one of those times.

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4 comments

  1. roguewave

    within 8 years, btc to $1m (25x); gold to $20k (10x)
    https://cryptohayes.medium.com/the-doom-loop-161a42bbcd50

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    • roguewave

      But btc possibly to $30k 1st

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      • discoordinated

        Don’t you have any concerns about quantum computing destroying bitcoin before 8 years go by?

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        • roguewave

          It’s inevitable at some point. My understanding is quantum resistant crypto is being worked on.
          It’s a continuous battle. Measure, counter measure…

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