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
23,304 Blog Posts

JOE’S MARKET SASHAYS LOWER FOLLOWING ‘GOLDILOCKS’ CPI NUMBER

SIRS —

I have been dispatched yet again. I am now off by 5% for the week, 1.5% for the session, in what can only be described as my worst trading in a very long time. The culprit? I am just terrible. Instead of blaming my poor trading on things, such as fucked knees and POW camp styled diet — I will instead tell you flatly that I have been disinterested in the market.

This implies exactly what you think I am saying: if I was interested and really “into it” — I’d be up. Prove me wrong.

Following Joe’s personally handcrafted CPI number, we are once again FUCKING COLLAPSING against the rocks and stones. I got fooled and tricked — bought in and kept my energy holdings — and now I am paying the price for my unbridled greed. The smart play would’ve been cash. The even smarter move was to SELL THIS FUCKER SHORT at 10am and then proceed to watch breadth tank from 75% to 40%.

I must tell you, this sordid breadth collapse bodes very poorly and in the past would cause GREAT CONCERN for me. Alas, I am holding firm and taking on water. There is a festering anger in me that prevents me from being truly happy. I love to have enemies and have my back up against the wall with people betting against me, again a byproduct of growing up in the sewers of Brooklyn pre-gentrification. This is exactly what I needed to get back into the game: a cold slap across the face producing a taste of blood. OR, maybe I am over and I’ll never trade good again — proceed to humiliate myself until death with STACKED LOSSES of a carnivale nature — becoming a laughing stock both online and at home where Mrs. Fly might perhaps disclose my trading prowess at dinner with friends over a chardonnay and how it produced such extravagant and ever-lasting tax losses.

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2 comments

  1. donnie wads

    After the run we have had the last six months who is the incremental buyer?

    Best case for the market – rotation out of growth and into value with a listing average down 5-9 percent.

    Worst case is a falling knife and institutions “sashaying” into short term T-Bills and long term treasury bonds. Keep an eye on the VIX.

    Cash is indeed the best play here, even if it’s in a 4.5% money market.

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  2. mad marsupial

    Goldilocks. – The original version of the tale tells of an obscene old woman who enters the forest home of three anthropomorphic bachelor bears while they are away. Then she disappears out a window and never seen again.

    But like these markets, they have to come up with a cute little girl to keep people interested.

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