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
23,599 Blog Posts

It’s a Bull Market, After All

Even during the best markets you’re gonna have bad days and those days will make you believe that ‘it’s over’ and all hell is about to bust loose. At least that’s how I sometimes view things. There are a million reasons to hate stocks, from the rigged nature of it all, dark pools, algos and hedge funds, politics and war. The list never ends. One day the national debt might matter and perhaps having a brain dead President is bad for the American credit rating; but not now.

This morning I stepped out of stocks and then spent a few hours to curate a buy list, choosing 2 stocks from each of the 8 principle sectors: one with the highest technical score in Stocklabs and the other the lowest. The oils are really oversold here and their scores are the lowest. On the highest end is semis and other tech related names.

At any rate, I’m +186bps into the final hours of trade and don’t have a single Gamestop share to my name and that annoys me. My timing has been dreadful attempting to play the stock. Now I know what some of you are thinking: ‘why bother trading in something like that?’ Because that’s my job, just like it’s your job to attach wheels to cars or wash windows. My sole focus is to extract maximum dollars from the markets. The money I make doing it helps me in my endeavors to do all sorts of shit, most of which is quite nice.

Perhaps I have 30 years left on this fucking planet and then I’m off to haunt people for eternity. Whilst here, I intend to at least attempt at taking what I deserve. We all get what we deserve, good and bad.

Bottom line: we are still bullish on stocks, bearish on Pax Americana. Sometimes it works that way.

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