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

Orderly Dumping of the Markets

I’m feeling terrible this morning, but grateful for not being vaccinated.

Last night cryptos just completely liquidated. Most are now worth zero. This morning stocks are tricking people left and right into believing a bottom is in. The sell off is once again ORDERLY and I ended up selling my hedge for profit and several longs at a loss. As of now I am half cash and half refiners, ag, and SE.

SE is the perfect stock to embody this market, always has been. It went from $40 to $400 in the recent bubble and now back into the 50s, clownishly. There are major institutions who own it and buried by it and it’s the perfect stock to bounce, if there even is such a thing.

Since I’m not feeling well, perhaps it’s allergies or perhaps something a bit more, I’ll be trading light, but checking in every now and then in between nightmares.

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3 comments

  1. duuude

    NyQuil and rum.

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  2. the hungry dog

    Fly I hope you get feeling better. Are you still invested in ETH ethereum.?

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  3. Cricket

    Cryptos have been a means for some of the QE overflow pumped out by the Fed and DC during the last 10 years to go to the least regulated location; kind of like dollars from the US that landed in the City of London prior to 2008.

    So there is presently a perfect storm for Cryptos. Globally increasing regulation and scrutiny, unwinding of QE, and an environment of generally declining financial assets. Bitcoin and Etherium are going much, much lower.

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