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
23,406 Blog Posts

Do Not Trust the Tape

Markets look good on the surface, with exception to the drop in copper. Breadth is middling and cryptos are flying. Hell, $BTC is at $53,000 en route to $100,000.

Everything seems great, which is EXACTLY why I’m suspect as fuck here.

I own stocks but I also own $TZA and will not relent on the idea that a leg lower looms. Markets simply don’t go up forever, making everyone happy. Some of you need to cry in order for this to all work.

That being said, I don’t want you to cry and would prefer you lived happily ever after. But the laws of the market dictate zero sum.

Up 20bps early going, side eying the tape and on the lookout for collapses.

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