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

REMINDOOR: We Are Still in a Bear Market

Having said that, we can still run higher from here, even after this big lift. With stocks up 4% for the session and the speculative juices going, we could see a continuation into next week, perhaps a short squeeze or two because fuck you.

Nevertheless, you should be using these rallies to REDUCE your long term exposure, since it’s very likely we are to resume lower at some point soon and then dive back into the crevasse at new lows.

My algo account, which is based solely off the Stocklabs oversold signals, is up 12% today, fully long TQQQ. Just yesterday this looked like a suicide account; now it’s the best thing going. My Quant was also in agony, now +5.3%. In my trading, I went to cash first thing this morning and left a lot of cash on the table in exchange for safety. I am +3% there.

My best guess is a RAMPING of the close. I would not be surprised to see us completely revoke these gains on Monday, as bear markets tend to truly disappoint investors to the point of misery. This is why it’s important you listen to me now: lighten up.

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One comment

  1. soupbone

    Security is offered by November. Certain political loss lies in poor markets, and inflation even more so. Some serious window dressing activity and distortion coming, in fact all activity here on in is geared to November. The price at the pump is target #1 even though that still leaves a huge inflation breakout that will NOT have been addressed properly. Hence the bear market will resume.

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