OMG THE NASDAQ IS UP ALMOST 100; WE ARE SOOOO LIT.
I had positioned too heavily short to benefit from this open and after I sold it all my gains are only +13bps. But that’s ok. Some of you following me in Stocklabs will need to be patient and accept the fact that some tapes are for pillaging and another tapes are for hiding out.
The NASDAQ is down more than 3% the past week and I’m up 1.3%. That’s all that matters to me.
I was hoping for a Friday collapse and we might very well get that. I closed out my shorts because I don’t like waiting around for good things to possibly happen, when I could merely go to cash for a small gain without risking anything. You can say that I’m risk averse.
Commodities are a little soft, but so are the brains of people chasing this market. My best guess is for a Friday collapse. I really truly in my heart of hearts want it to happen. But before we can get to that, we need to shatter some dreams throughout the day and hopefully by afternoon we might have a wonderful rout on our hands.If you enjoy the content at iBankCoin, please follow us on Twitter