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
22,556 Blog Posts

MARKETS FADE HARD FOR FIRST SESSION IN LAST 8

It’s easy to believe this market drubbing is the beginning of the end for the bulls. Truth is, the trend has been up and even though the economy is now CONFIRMED in full collapse mode — we must assume the bulls will pull more rabbits out from their asses.

I closed down 2bps for the session — because true skill is being able to purposely trade to FLAT. My whole life I have either made lots of money or lost in stocks — so I am trying a new task of closing FLAT.

YTD, my gains exceed 5% and I closed with a large amount of hedges which will produce gains should market collapse at the open.

This evening we will once against request the creator of the universe to take time out of his busy schedule to CRASH THE FUCKING OPEN because Sodom deserves it.

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We Had It All

Once upon a time this morning — we had it all. I was up more than 2.3%, coming fresh off a totally legal takeover win in VLTA — 100% long into HORRENDOUS PPI numbers. Nothing could stop me. But then the market started to crank and the gears stymied from LACK OF GREASE and the mechanisms that kept it running COLLAPSED and prices followed with it downward into a never-ending stream of pain and blood.

In this post Apocalyptic world I now write to you from, I am merely +16bps. The real tear jerker in all of this is I knew it was coming and did nothing to stop it. The only reason why I am even up now is due to fast paced and frantic hedging along the way lower. At one point I was 50% short on top of a 100% long book for a 150% leveraged book of sheer fuckery.

The Dow is off nearly 400 and the NASDAQ -81. These aren’t largess losses; but the psychological damage is enough to give people PTSD. We are afraid of a snowballing and rolling downward into the fires where the recent gains might endure the pangs of a slow death spinning on one of Satans pitched forks.

Why is the market lower?

Some argue because Fed’s Powell caught COVID. No one gives a fuck about that or him for that matter. We only care about the FOMC as an institution and what it can do for us, in terms of rigging. The market is down because Pax Americana is over. The idyllic Main Street is now FESTOONED with Tranny rainbow avatars prancing about with Ukrainian flags, clamoring for Russian blood. No one did anything to stop it and now it’s too late.

It’s over again.

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GOOD NEWS: The US Economy is in Shambles

Really good news lads. Today’s PPI was so bad, it almost matched the COVID lows when the entire economy was shut down.

Microsoft is laying off 10,000 and the economy is in a tailspin.

On this news, stocks are up and the US 10Yr PLUNGING -14bps to 3.39% — just in time for the spring housing market.

Commodities are ripping and the dollar dropping: perfect.

I also caught a buyout this morning with VLTA and stand before you +200bps or +7.15% for 2023.

Interestingly, my automated quant is +7.65% for 2023. I simply cannot stop the winning.

Thank you Jim Biden for destroying the US economy, allowing me to profit.

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MARKETS OPEN THE WEEK SOFT — But the Trend Remains Bullish.

I squandered an early gain of 87bps — but I had no choice in the matter. My balls, for all intents and purposes, have been CLEAVED OFF CLEAN — by way of the weekly quant allocation. I am FORCED against my will to be 100% long and trade around it — because I know betting against stocks for long periods of time is a SUCKERS BET no matter how much ethanol I drink and no matter how many nukes Putin thinks he has.

Truth is, I traded down 5bps and hedged it with SOXS at 20%. I am also leveraged to the tune of 146% — because why the fuck not?

I deserve to have money and boxes filled with cigars and large resplendent wine cellars filled with crates of DRC.

Tomorrow my algo account closes out the SQQQ short, which was initiated based upon the overbought signal. This is the first time I have made a trade based on OB — because the prevailing trend, prior to 2023, had been to fade the market. However, that didn’t happen, as you know, and Stocklabs was FESTOONED with clusters of OB signals — a clear signal of sentiment shift for those who know.

I want to believe many things and those things are ideas floating around in my head, brought on by aspirations, frustrations, and many other inputs received from my environment. But one thing is indelibly clear, in spite of today’s -400 Dow showing: risk is on. When risk turns off I will once again sigh a breath of relief and make money betting on the destruction of western finance as we know it. But until that happens, markets are presumed innocent until proven otherwise.

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REPORT: PUTIN TO MAKE MAJOR ANNOUNCEMENT TOMORROW

I won’t bother linking sources to where I heard Putin was going to make a major announcement tomorrow. Suffice it today, I want to believe it is true therefore it is. Henceforth, you will believe it too.

News from the battlefront points to a meeting in Germany inside two days to decide the fate of German tanks to Ukraine. The new defense minister of Germany said the single red line they have is not to be involved in World War 3 — an interesting choice of words. The other issue is continuous Russian advances, although incremental, inside The Donbas. I will say this with absolute certitude, it would be impossible for Russia to ever lose a war against Ukraine. It will not end with Ukraine landing in Crimea, atop a rainbow colored US submarine — declaring they made Putin turn trans. Even if Ukraine was able to rout Russia from the battlefield, Russia would attack Ukraine every day for the next thousand years until nothing was left of Ukraine.

Then we have the former advisor to Zelensky issuing a bizarre interview, more or less calling out Ukraine for their idiotic foreign policy of wanting Russians out of Ukraine only to have said Russians come back to Ukraine with an army. This gent was FIRED for admitting the recent civilian building hit in Dnipro was the result of a Russian missile being intercepted and not Russia intentionally targeting the civilian high-rise.

The other consistent thing I’ve been reading about is foreign mercenaries inside Bakhmut. Several sources have claimed seeing black soldiers on the Ukrainian side and thousands of poles. The US and UK are now actively training division size groupings of Ukrainians and it seems Ukraine has an endless supply of men to spend on the battlefield in favor of diplomats who could perhaps end the fighting.

The prevailing wisdom of the west is such: we must break and shatter the Russian economy and people, militarily destroy it, and then split Russia into five separate nations, whereby western businesses could return to Russia with money and equipment to tap the seemingly endless supply of Russian resources. We must do this in order to “show China” because they’re getting uppity and have banned feminized boys from their TEEVEES and also they’re meddling in Taiwan and we like Taiwan to make our semiconductors and they’re part of our Asian cabal with Japan and the lipstick wearing men listening to Kpop in S. Korea. So we must break Russia, even if it risks world war and nuclear detonations — because the plight of man is to subjugate the weak and it’s fun to pretend we’re still mighty — since all of the books we have written about ourselves tell us so and the movies also declare us to be of super-human qualities. Ergo, and this goes without saying, we can defeat Russia on their front step because we have something both Hitler and Napoleon didn’t have: tranny brigades.

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SHITCAPS SURGE

I don’t have much to say and really didn’t feel like blogging this morning; but I have a job to do and one of those jobs is to come here to toil each and every day.

The market is being led by SHITCAPS and SHITCOINS, the more obscene the better. TSLA is busting loose and that angers me because I have a long term accumulation plan and I’ve only bought a little so far. I was wishing for lower prices to buy more but you permanent bulls had to ruin it.

The action is bullish and it feeeels good. But feelings change and everyone falls out of love eventually. This is NOT the bottom.

Nevertheless, I’ll allocate 100% to the long side after 12:30pm today, as I always do on the first trading day of every week. I’m up just 21bps so far today — but that’s alright and I really don’t compare my gains to anything else. I’m content being up nearly 6% for the month. Why wouldn’t I be?

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The Dollar is the Enemy of Stocks

It should amuse you to learn that when the dollar is in highest demand — the economic system breaks down. Asset classes perform best in a WEAK DOLLAR environ, whereby globalist scum are able to manufacture abroad and bring items back in American for the slave-cattle to consume. The forex advantage is readily visible on all corporate balance sheets during periods of dollar decline. The very best case scenario would see the dollar lower by another 25% to the Euro — which would almost assuredly mean the market would rise by 50%.

Due to the pivot concept at the Fed, the dollar bottomed in November. Below is a series of charts, which all make sense except for the fact that the Russell and the NASDAQ (which is not featured here) have greatly underperformed all things considered. It’s also worth noting the weakness in crude — which is likely more to do with Russian Ural crude selling at a $30 discount to Brent — flooding world markets to support their war.

If I didn’t have a brain and only looked at charts, like all technical analysts function (without brains), I’d argue stocks need to catch up to other asset classes and that the dollar is heading even lower. The dollar is down 9% over the past 3 months, so fuck off with your dreams of vacationing in Europe for cheap.

Dollar

Bitcoin

Gold

Treasuries

Russell 2000

Crude

Stocklabs Pennies Index

Stocklabs Terracap Index

Copper

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Current Market Has Glimmers of 2001

The SMH is up 11% month to date, wiping out the -10.5% loss is took in December 2022. We are all hooked, sold even, on the idea of soft landing. Back in 2001, I recall with great vividness feeling the same in January of the year, which presided over a gain in the SMH of +20%.


Those are the gains in January for SMH dating back to 2000, courtesy of Stocklabs. This year’s returns, as you can fucking see, are the biggest since 2001. We are all happy and boastful, cruel to the bears — hitting them with socks filled with flour.

But guess what happened in Feb of 2001? Fucking guess.

The SMH plunged by 29%. Later on that year the Federal government destroyed the World Trade Center and made it look like some Saudi Arabians did it in order to start wars and empty the treasury for the next 20+ years and by then the market was completely cooked until 2003.

Bottom Line: I’m gonna close out my positions come Tuesday, which is a reallocation day for me anyways. But I’m gonna close out the leverage and the extra stuff, and really consider some heavy hedges. I don’t see how the market could extend too much more for January and I’m very skeptical of what THEY might do in the Ukraine, as the war inevitably turns in favor of the land power there and threatens to displace our dominance on a global stage.

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FOMO

Big rally in shit stocks today kept me busy trading nonsense for a gain of +132bps. I had gains of 1.75% and then lost a little in errant late day trades — but ended the session just fine and also with 125% leveraged LONG book into the long blackened weekend.

I will have you know, the market looks very bottomish — giving me feeeeeelings I experienced during the COVID lows. Although I am reticent to admit Jim Biden successfully navigated a soft landing, that is the thought process to close the week.

Stocks are up roughly 8% for the year and most recently the gains are concentrated in heavily shorted/most down names. Whilst some believe this action occurs near the end of the rally, I’d like to remind people that froth also occurs during bottoms — as people scramble to sop up stocks they thought were barreling for zero.

My opinions are subject to change based on real time events. But for now, I am extremely bullish.

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SHIT FLOATS TO THE TOP

Overall, the market is middling today. We were supposed to tank based off the JPM words — which hurt the soft landing crew. Nevertheless, we went straight up since the open and the gains are heavily concentrated in small caps.

Have a look at the gains intraday by market cap.

All of the shit is rocketing now, especially names with big short positions in them. I have made it a point to apply leverage to my account in order to capture some of this lightening and have gains presently of +130bps. I am not, however, content, and feel almost like I am down for the day. I just pressed another hedge on top of my portfolio of shit, which is like attempting to stop a boat from sinking from a torpedo strike by taping the gaping hole with masking tape.

It’s very possible the market will REWARD me, since I am a good person and I do deserve to be treated fairly. But you never can tell if the market is going up or down.

Bottom line: I am up more than 6% for the week and have room to gamble here, and will do so, as it is my custom to press gains and act foolish in the face of horrifying reversals.

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