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
23,417 Blog Posts

Time to Press Down on the Fucking Brakes

Old sport —

We’ve had a good run but it’s ending soon. You can tell by the quality of stocks bugging higher today, some of the lowest brow stocks in the market, if not rock bottom. This is what happens when the plebeian class scurries back into the fray, hoping for potentialities — a brief sojourn with the mortgage money to take advantage of all of the grandiose splendour. But this is where the line ends and all those still on the train CRASH into the fucking wall and the car compressed like an accordion into the steel shards, impaling those inside with their mortgage money in an exercise in Darwinism.

I closed at SESSION HIGHS +57bps, with 87% cash and $TZA/$ILMN positions — fully content with my 10.1% YTD returns — carefully ebbing through the market as if walking in a minefield.

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