Monday, October 29, 2018

With the DJIA Down 350, Let's Check In With The Fly

From iBankCoinL 
Mon Oct 29, 2018 1:55pm EST
A Clarification of My Recent Boolish Positions
Oh oh, not a good start that was at DJIA 24,802. 
Continuing:
We’re in the process of bottoming out now. Do you want to know how I know this? I don’t mean to be glib or provide you with an obnoxious form of candor, but the last of the bulls are now squealing and social media is abuzz with doomsday callers, all lining up to be executed by the market.
I don’t know this for sure, naturally — which is why I am 60% cash. But I am feeling bullish and I do like the market reversal today, as it sends the last bull to the gallows of misery hoping for an expeditious hanging

My game plan is as follows.

Buy more. After those stocks dip further, buy again, and then wait. If the market turns against me, I’ll be out of these positions by Wednesday. But timing a bottom is hard, especially one wrought with fear. It’s a delicate process that requires a surgeons hand, steady and firm, yet skilled.
I am a Doctor, after all.
It's like one of those old-timey nature shows as the lions approach the wildebeests.
You want to look away but you can't.
Now the narrator guy is saying:
"Sadly now, there can be but one outcome"
Mon Oct 29, 2018 3:06pm EST 
The Market Is Not FAANG — Doubled Down on Previous Purchases
The industrials are now at 24,436
This is it boys — what separates the men from the catamites. Markets are in plunge mode and everyone is running around with their cocks on fire. I believe this is a fine occasion to buy the blood. I cannot think of a worse case scenario than this pin action.

The core of the issue are FAANG stocks, tanking lower by more than 3%. This is spooking investors and providing reasons to sell or avoid buying dips....MORE
The DJIA is now at 24,323.98-364.33. Pray for the Fly.