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

BELIEVOORS BTFO AGAIN: STOCKS CAREEN LOWER

I would have to admit, I fell for the imaginary bottom. I could see it all, me walking on it and then propelling myself upwards to the sky, perhaps a sojourn to the moon with some cheese and champagne. But it was not meant to be. My losses pale in comparison to yours, but they hurt just as much! I had been, earlier today, a genius. I had 100bps of gains whilst being 80% in cash, safe and secure. Feeling a bit under the weather, perhaps infected with COVID or more likely some seasonal allergies, I went to take a nap and dreamt of the Dow being +400. It felt so real. When I was awoken by dogs needing to be walked, I discovered, sadly, the market had reversed and careened lower. My aspirations were castles of sand and my dreams retarded.

I am presently down 40bps, a 1.4% reversal in fortune, because I believed. Also, I bought shit stocks in the hopes of miracles.

I’ve committed numerous errors today and it always happens from a position of comfort. I must remember the pain and how it feels to be pressed up against the swords of Damocles. My intention is to hold, only because of stubbornness. What I should be doing is liquidating now — because nothing is redeemable and everything is rot.

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One comment

  1. juice

    Castles made of sand … indeed https://vimeo.com/331494438

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