You might not like it — but the bull market renewed began today. The bulls are in their smoking jackets reading the papers, smoking their pipes, in the study at leisure whilst the market rapidly paces upwards.
My bearish colleagues out there will not believe what I am about to tell them — but it’s better they’d hear it from me than a transgendered bull. The battle is over. The GLOBOHOMO won and markets are going higher. We have an utter collapse in rates coupled with a 5% lift in the $IWM. This is a deadly one two combo to your jaw — cracking it loose and sending you down for the count.
I did my research and looked for manners of ways this could be a dead cat bounce but came up with very little. On the whole, large moves like this for the $IWM marked LONG TERM BOTTOMS in markets. There were occasions when the very next day stocks fell in cartoonish fashion — but I sincerely doubt that would happen tomorrow. You do trust me, no?
THE BEAR MARKET HAS ENDED. As predicted, not only did we have a wonderful November, which is ongoing by the way, but we also placed in a bottom for the balance of 2023.
I attempted a foray, skirmish if you will, shorting the market from 12-1pm and made very little. I then took on some longs figuring we’d squeeze the heads of short sellers into the final hours. Dare I say, I’d bet my life this might happen today, up more than expected because the bears got their heads caught in between floors wedged in the elevator shaft again — about to get their faces crushed in.If you enjoy the content at iBankCoin, please follow us on Twitter