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
22,427 Blog Posts

MARKET TAKES A BATTERING RAM TO BEARS

Every dip is bought. Each morning collapse is met with foaming from the mouth bulls who just sop up any bargains out there. I was not fooled today, not even once, and now sit with gains of +120bps, increasing the girth of my manhood since the opening tick. I cannot, however, promise you this elegance will last thru 4pm, as markets tends to shatter to pieces into the close. Lord knows what can happen overnight.

It seems, and this is just me speculating, people like stocks when fast approaching National Festival. After that, we have an even bigger holiday: BLACKENED FRIDAY. This is the day when Americans WHORE THEMSELVES like slave-cattle outside Best Buy and barge in with their fat faces for 15% discounts off televisions and toasters.

At the moment I haven’t any hedges. WTI is down a staggering 4% and yet oil stocks are being bid here. I cannot tell you how much it pains me to see oil down and stocks up. But it is what it is.

More later.

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One comment

  1. soupbone

    Cost of living inflation has arrived and that always gets attended to. Despite that asset price increases over the last decade were not called by that name, they are born from the same source. Tough times ahead, and austerity for many countries eg. the UK where approimately 10% inflation is happening now. From that level the reparation time is measured in years.

    Rob Arnott has a good piece on this at Research Affiliates today/yesterday.

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