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

CATASTROPHIC BEAR MARKET RESUMES

It’s not as bad as it looks: promise. You might be thinking to yourselves now “oh no what will I do?” Stocks are down 3%, give or take, and the month has only just begun. At this rate, markets will drop by 25% by the New Year, truly ushering in Centaurs to the NYSE to ring in the bell with the heads of decapitated traders.

But before you get all scared like a pussy, bear in mind the 10 1000 point rallies you have been ENTREATED to this year. It is your right for magnanimous rallies. You deserve it because you’re an American and democracy is the light. Ergo, just sit there and snort some more cocaine and wait. I am almost certain Fed’s Kashkari will say something to really get people going again. Hey, how about *only* 25bps for December instead of 50 or the dastardly 75bps? I bet you’d like that — wouldn’t you?

In many ways, 2022 was a bull market for stocks. Sure, we had periods of disarray and many Reddit tier stocks dropped 90%. But on the whole, if you were nimble, you got to enjoy, and savor, multiple THOUSAND POINT RALLIES, which were all, mind you, well deserved for a man of your stature and station.

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2 comments

  1. roguewave

    It appears World War III has begun as this morning Ukraine reportedly launched drones to attack Russian airfields. Probably nothing

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  2. roguewave

    @LukeGromen
    If Russia was moving toward a gold-for-oil arrangement as Zoltan hypothesized, you’d expect to see 3 key reactions fr the US govt:

    1. Support a war on Russia’s border

    2. Fastest rate hikes in 40 yrs, seemingly trying “break” the world by doing so

    3. Fastest SPR drain in 40 yrs

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