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

Summer Trading Looms, Still Bullish

Markets definitely broadened out a bit following the morning malaise, but we once again closed tepid, with 6 consecutive red candles to cap off an otherwise retarded session. The big caps led most of the day and if remained in $DELL $MSFT $AAPL $TSM and $AVGO, you did fine. The issue with this tape, as so many others heading into the summer months, is dispassionate trading, listless even, into an election.

I can’t view this action as bearish since the indices did lift. Breadth was 59% and mostly all places were safe, save solar and biotech.

After selling the morning I stepped back in during the late afternoon and closed +25bps for the session. My highs were +70bps but the final hour of trade stole me money and now I will work towards getting it back.

In other news, the NYC Comptrollers Office is requesting, as shareholders of GME, to have the board disclose the genders, race and qualifications of all members for reasons that could only be RETARDED. The motion was shot down and you really have to think about who is running the NYC Comptrollers office and what their priorities are. We live amongst devils and we shouldn’t have love for them, but pure hatred and that hatred should be used to extricate ourselves from them and their idealogies.

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