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
23,414 Blog Posts

ARE YOU READY TO BURN?

Jim Cramer said we were in a bull market yesterday. The semis are +22% this year and we haven’t had a bad week since the year began. Even if you’re the most astute and depraved bull, there is no excuse for this sort of market.The very idea of it going higher day in and day out, in spite of my magnanimous gains, makes me sick.

Ergo, I’ve decided to keep my hedges in place, and perhaps more.

Presently, I am 30% short via FNGD, SOXS and TZA. I realize there are redundancies in those ETFs — but fuck off for even thinking about telling me. It would be very easy for me to sell them now and then traverse the markets, light footed and gay, and purchase any number of stocks from which I could profit. But instead of doing that, I am going to set roots here and declare that my short bias is of a PERMANENT varietal. Why, I will sell the markets short every single day until I run out of money.

Also, and this goes without saying, I reserve the right to change my mind at any point and do the exact opposite. There’s not telling what I might do, as I am the definition of “unreliable narrator.”

What I offer you is my hopes and dreams. My skillset, if you really want to call trading stocks a skill, is finding numbers and letters before they move to my advantage, selling them at a profit, and then coming here to boast about it.

If you enjoy the content at iBankCoin, please follow us on Twitter