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
22,548 Blog Posts

DID WE BOTTOM?

Another monstrous rally. Bottoms are always happening for the Permanent Bull, but they eventually do happen. Have we seen the lows for 2022?

Consider the IWM +8% for October. The only other times it went up like this was in 2014, 2011 and 2003. The following month after those rallies, the market was flat to up with strength in tech. I have no way of knowing if we bottomed or not. All I do know is I don’t want it to bottom and I’d be awfully disappointed if America skated by another catastrophe without truly suffering for it.

HOWEVER, that being said, I closed with a bullish book and bias towards heavily shorted stocks. This is probably the most long I’ve been in a week or two, so we’ll likely crack lower today, as to only amuse the Gods.

Off to tennis.

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5 comments

  1. metalleg

    Rigged Game was right. Lucky or does he know?

    Who cares? I’m sticking to my belief that they prop the markets up until the election.

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    • rigged game

      Well thank you, leg! I have spent 71 of my nearly 90 years
      watching the markets, actually watching paper ticker tapes
      in the first few years. And sitting in broker offices watching
      a screen during my lunch hours.

      I make a long-range prediction about once a decade,
      based on the wrong position of the public and press.

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      • bob smith

        Congrats on making it to 90. Seriously. I hope if the good Lord allows me to live a little longer, I will not be wasting my time trying to make moooor money in the stocked market.

        A local trailer-court slum-lord millionaire just died at 95 and his one and only goal every morning for the last 80 years was to make moooor money… he lived for money and died without it (his kids decided to bury him without the money).

        Sad 🙁

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  2. txchick57

    MSSFt and Googl won’t help.

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  3. purdy

    “skated …without truly suffering”

    We killed, mutilated, starved millions since the 9/11 false flag …all while getting tax breaks, negative real rates, stimulus payments …pronouns….

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