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
23,534 Blog Posts

The Primary Trend is At Risk of Being Lower

For much of 2023 my modus operandi has been to protect account with hedges — but not too big — since the goal was to eventually buy dips. This was rooted in the fact that the market trend had been up. With the market harangued lower again, down for two months straight, there is a risk for the primary trend to switch from up to down. I won’t bother drawing lines on a fucking chart; you’ll just have to trust me on this one.

If we tank anther 5% of so from here, expect to see live Centaurs on the NYSE rampaging through a sea of traders — kicking bulls into their chests and faces — bringing calamity and misery to all those seeking to, dare I say, compound their returns.

God willing, you’ll be compounding losses soon — as all of the roosters and the fucking chickens come home to die.

I am however open to the idea we rally too.

Happy Friday trading.

I’m +36bps in light trading, thanks to my smart shorts.

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One comment

  1. metalleg

    The Fly wearing his smart shorts:

    https://us.sanvt.com/products/the-smart-shorts-navy

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