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
23,482 Blog Posts

Markets Trap Bears

Another part of trading Fed days I forgot to mention yesterday is the next day, which would be today, the exact opposite usually happens. I use the word “usually” very liberally here and have no data to back me up. It’s just a feeling after many decades of experience. Truth is, I bet I’m wrong about the “usually” part — but it’s important to note that big down days can sometimes be met with an inverse trend day — which if looking at today’s +260 NASDAQ is today.

Have you learned anything since reading me? Of course not. You’re too enamored with yourselves and how great a trader you all are — aren’t you?

This is the point of the day where you might want to place some hedges — but not because you’re bearish but to lock in the days gains.

I am +260bps for the session after realizing very early today was not going to slip away into the clutches of the bears. There were too many growth stocks trending. Right now, however, the bulls are fat and happy and might let profit taking commence before they ramp the close on your faces again.

If you’re net bearish — get the hell out now while you still can. You might take today’s lumps but can you take tomorrow’s?

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One comment

  1. jacked rabbit

    Holy shit, these first two paragraph of yours perfectly encapsulates financial writing these days.
    Acknowledgment of bullshit
    100% certainity that said bullshit is correct
    Close with degrading the reader.

    Fuck, I miss chart art and Asshat of the Year.

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