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
23,139 Blog Posts

Markets Could Not Go Down — So They Shot Up

I did warn you of this eventuality. We had a chance to kill western finance and the bears could not muster enough buying power to do it. Now we have to deal with un-ending bailouts followed by psychopathic applauds by the peanut gallery of circus personnel who frequent CNBC with their PERMANENT BULLISH discourse.

As instructed, I closed out my UVIX position at the open for a 4% gain and then I placed a 10% FAZ hedge and walked away. I am presently +1.33% — knifed down in $FAZ for a solid 7% — so I bought more. I will maintain a 10% FAZ position for the short term.

Overall, I am very bullish, as it pertains to my positioning. But in my heart and inside of my soul, I want to see a banking collapse.

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