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

The Pain Has Only Just Begun

A very common coping mechanism for the permanent bull class these days is to show long term charts of the SPY and mocking the recent pullback as something so inconsequential it would behoove them to even acknowledge it’s existence.

Perhaps if you’re comparing account values from 2016 until now, the setbacks aren’t that damaging, but who said we’re done going lower? Isn’t it important to recognize danger when you see it?

That being said, the vast majority of new traders who entered this tape during the COVID lockdown and subsequent meme stock era where retards took to Reddit and Twitter to make fun of others who actively traded because their “Diamond hands” of buy it and forget it stratagems were so much better —- those people are all now destroyed.

I was perusing the carnage from 52 week highs in Stocklabs today and felt like sharing some of the results. As for the direction of the market, expect lower prices for the balance of 2022.

MMAT -94%
TAL -94%
BKKT -93%
NEGG -93%
SKLZ -92%
ARVL -91%
FUBO -91%
CLOV -91%
BLI -90%
PRPL -90%
BBIO -89%
WISH -89%
GRWG -89%
API -89%
VLDR -89%
TSP -88%
ROOT -88%
OTLY -88%
HOOD -88%
SPCE -88%
CVAC -88%
PTON -88%
RIDE -88%
CVNA -88%
TIGR -88%
NVTA -87%
TMC -86%
MTTR -86%
INMD -86%
PLBY -86%
SFIX -86%
PRCH -86%
AFRM -85%
APPH -85%
YALA -85%
BAND -85%
SDC -85%
WKHS -85%
HNST -84%
AMWL -84%
RIVN -84%
BILI -83%
BIRD -83%
FUTU -83%
DNA -83%
ASAN -82%
TDOC -82%
VMEO -82%
FTCH -82%
FVRR -82%
MARA -81%
FSLY -81%
LMND -81%
EDIT -81%
RCKT -81%
PATH -80%
JMIA -80%
CHGG -80%
AMC -80%
BFLY -80%
DIBS -80%
W -80%
BZUN -80%
RBLX -80%
AMPL -80%
ROKU -80%
TDUP -80%
REAL -79%
DKNG -79%
SE -79%
ANET -79%
TLRY -79%
NVAX -79%
UPST -79%
RIOT -79%
DAVE -78%
MQ -78%
POSH -78%
OLO -78%
TWOU -78%
SHOP -78%
ABCL -78%
BEKE -78%
TWST -78%
TOST -78%
BYND -77%
RNG -77%
BLZE -77%
NTLA -77%
ZM -76%
NRDS -76%
TXG -76%
NFLX -75%

This is exactly like the dot com implosion.

If you enjoy the content at iBankCoin, please follow us on Twitter

4 comments

  1. purdy

    Do they want to save the dollar or destroy it and issue something new? What is the real “Fed Mandate”? Control ripping inflation? Or reset?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. the_wolf

    Lmfao on that list

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. the_wolf

    Pain is the mind-killer. Pain is the little-death that brings total obliteration. I will face my pain, I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the pain has gone there will be nothing. Only I will remain.

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  4. the_wolf

    I wonder what that list looks like now
    Ouch

    • 0
    • 0
    • 0 Deem this to be "Fake News"

Leave a Reply