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
23,495 Blog Posts

A Very Hilarious Day in the Stock Market Cemetery

I would’ve hoped for more, but at the end of the day we get what we deserve and we do not complain. I etched out a gain of +59bps, capping off the week higher by 1.5%. My opinion of the market is as follows: carefully bullish with a focus on defensive stocks but also open to the idea of it broadening out. The impetus to be long consumer staples now stems from the palpable fear of a renewed leg lower in equities. Instead of selling short, owning stocks that weakly correlate to the overall market is the next best thing.

I really do not like these tapes, slow and methodic, summertime molasses spilling off the side of a picnic table mid afternoon. I’d like to be able to move quickly and talk with my mouth filled, yelling at Mrs. Fly to “kneel down before my greatness”, laughing riotously throughout House Fly with an air of recalcitrant haute.

We all have choices to make. Some of you choose to sell short in the face of never ending rallies or to buy underperforming stocks in the hopes that luck will prove you correct. Others pretend that luck is skill, playing in the moronic sandbox of earnings season. On a long enough timeline, all truth and lies are revealed.

Sure, you can make money in a run away bull market; but how will you do when the fires are burning bright and the landscape is strewn with the lifeless bodies of former market participants, sacrificed on the altar of ignorance by way of over confidence in skills they never truly quite possessed.

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One comment

  1. soupbone

    I suppose the day trader life span (career) will be ever shorter. Time to adapt.

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