Wednesday, November 14, 2018

The Fly On Today's Market Action: CRASH, BOOM, CRASH — EXHAUSTION

From The Fly at iBank Coin:
Wed Nov 14, 2018 3:37pm EST
It was a nice rally. I was in line at Whole Foods judging people in front of me very harshly. I peered into their little wagons and reverse engineered what they were having for supper — very disgusting and chaotic, believe me.
I’m back the turret now, having missed out on that spring. But truthfully, it’s best I wasn’t around to bear its witness. Too much churning at House Fly. This isn’t what I do best. I specialize in building systems, structures, portfolios, and momentum trading. When markets swing to and fro without rhythm, I get dis-jarred. When I get dis-jarred, I fucking lose lots of money.

I’ve made my bed, see? I’m in retail and some tech, and SOXL, 20% cash, trying to believe in the way of the future. There’s lots to take in, cross-currents to ingest. The short squeeze in natty is mind blowing and I feel it can trade to $7 soon — but I won’t take a position. If I had some healthy gains to speak of, perhaps. But it’s not for me.

The crypto markets have been bludgeoned to death, down in the deep double digits today. Total market cap is now $182b, down from $800b. You do the math....MORE
Earlier: 

Wed Nov 14, 2018 1:51pm EST
PANIC
Crash mode sequence initiated. This is the part when everyone gets sold on the idea that we really are gonna crash — because the new, oh, it’s so damned bad....MORE