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
22,158 Blog Posts

CRUDE UNDER SEVERE PRESSURE AS GLOBAL RECESSION LOOMS

WTI is down 6% now and copper is off by a staggering 4%. The NASDAQ opened down more than 200 and is bouncing off the lows now, led by stocks as stupid as RBLX and DASH. I was leaning long, luckily hedged with a 15% weighting in SOXS and went to cash and locked in a 65bps loss for the day.

What is going to happen is this: FOOLS and BELIEVOORS will be lured into this tape only yo have their heads CLEAVED off their shoulders — as the global recession narrative whirlwinds through the portfolios of FOOLS.

I will not buy CHWY or XPEV or COVID-19 vaccine plays — because I value my game plan more than the small gains and feeling of temporary success that might be gleaned from catching a pivot point higher.

I shall not be fooled — because I know we will trade materially LOWER. If you are still bullish then you are still in denial.

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6 comments

  1. roguewave

    “2022 is the year we question the sustainability of the all-volunteer force,” Ret. Lt. Gen. Thomas Spoehr admitted.
    45% of Americans trust the military, a 25-point decline since 2018.
    57% from NBC News poll believe that they will suffer psychological damage from serving.
    a, yea

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    • purdy

      The highest levels of the military are filled with appointees who got the job based on criteria similar those which landed Chuck Todd a job. Who would want to lay it on the line for moronic propaganda repeaters?

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  2. duuude

    Narcissism has a price. Hubris brings down kings and fools alike .

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  3. soupbone

    The situation is dire in Europe which in rapid decline (Germany trade deficit, Mish posted a dramatic chart). In the face of that, we are now in an accelerated rate hike cycle due to very relevant inflation. The Fed will have to become less hawkish fairly soon which will be yet another policy error. They are digging us in deep shit here.

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  4. purdy

    Trading feels like fiddling while it burns.

    The analysts who have been proven right so far, see no way for us and our NATOtards’ conventional forces to prevail in Ukraine. How stupid will our deep state get in attempting to save face?

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  5. og

    I thought we were getting $200 oil and famine everywhere because we backed Ukraine?

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