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

Going Small into Friday

I’m sort of content where I am now, not trying to rock the boat and make a FOOL out of myself in a marker rife with tumult. With +1.75% for the week, I have no reason to be a hero ahead of the weekend, a weekend which is marked with one of my favorite holidays: St. Paddy’s day. It is a day when I inebriate myself amidst boiled meats, potatoes, and cabbage — sing the songs of Ireland and perhaps smoke a cigar.

It should be noted, I do not condone recreational drinking, especially for young men trying to find their station in life. But on occasion, it is acceptable, providing you’re not an idiot who gets hooked on vices.

I closed the session down 90bps, heavily leaning into oil stocks — 45% cash. I was tempted to long $BITX and other higher beta stocks down 10% today. HOWEVER, even though the market rallied into the close — high beta risky stocks lost 3.8% for the session and the VIX spiked. Whilst this is usually a head fake, as the market seems to always trade up — this time it is accompanied by a mega spike in rates. It is possible you are staring down the barrel of a loaded shot gun at the present and might find yourselves entreated to morning grape shot to your fucking face — wiping that smug grin CLEAN of your odious face.

Ciao.

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One comment

  1. alaric

    The cigar sounds good

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