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
22,033 Blog Posts

Markets Need to Hold Here

Today could very well be a pivotal day for stocks, but I’m out, 100% cash. I made 44bps and I sold out of everything — but still long in my quant of course.

My rationale is that I couldn’t give a fuck about a super awesome and amazing bounce. The market is diseased and my preference is not to be lured into rallies that are prone to fail.

Stocks might rise 10% today and if they do GOD BLESS. I’ll be back later to sell it short.

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4 comments

  1. bambam

    We’re close but it ain’t today… within the next couple of days though .. one last OMG it’s over and then.. yeah I’d say it’s on!

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  2. txchick57

    They’re tossing out uvxy/uvix again. Might consider a reload.

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  3. roguewave

    check out doomberg #334 starts @ 8 mins
    https://tftc.io/podcasts/

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  4. Cricket

    Monkeypox pandemic coming. Now detected in about 20 to 30 countries – just in the last week or so.

    Kills 10 times the rate of COVID. USA (BARDA) has just ordered 13 million vaccine doses.

    Just in time for the midterms – gotta keep those drop boxes.

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