The Dow is +800, NASDAQ +250 based on a squeeze in shares of Apple, Intel and resurgence in Amazon. Seeing these tech names plunge and reverse is all the PERMANENT BULL class of investor needed to margin out their accounts and sop up everything their greedy hands could get hold of. Thus far for the month of October we have seen numerous 2% rallies and on the whole it’s been an exciting month for longs, up nearly 10% with one day remaining of trade. The notion we could collapse in November like we did in September is distant and remote, based upon recent history.
The fact that the earnings season has been so bad is the reason why stocks are rallying. In a deep perverted distortion of reality, bulls believe the weaker we are the more likely the Fed will PAUSE. The permanent bull wants to front run the pivot — because the pivot, whenever it does happen, is their religion.
After the dust settles and markets absorb the pivot news, we will be stuck with a shitty economy and nothing the Fed can do to help it. QE is not gonna happen — not with CPI elevated above 5%. We are only in the beginning stages of the economic decline, brought on by the FOMC hikes.
In the near term, I have no doubt markets will attempt to jimmy higher. The bulls are everywhere and they’re hard to stop, always out and about talking shit — sucking Cadaver Biden’s cock and boasting about their bulging positions in 3x upside ETFs.
As for me, I once again DID NOT participate in this grandiose orgy of American exceptionalism and have been out all day long, hedged with SOXS, SQQQ and LABD — whose losses have placed me down 50bps for the session.
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