Michael Burry first tweet in years... It's going to burst.
(media.scored.co)
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I trade futures contracts— Mostly indexes, oil, gold, and some fx.
I have no idea what’s going on. The derivatives are stacked to the sky, and bundled with dogshit. In 2008, the mortgage-backed dogshit securities crumbled… Now it’s like 10,000x/leverage… but everything… even bonds, treasuries are trading sideways and unpredictable—Fed cuts rates, you expect the market to act one way— poof.
Company share buybacks have gotten out of control. That’s the main factor, apart from “speculation” that is pumping the market.
All of the major hedges are just playing with each other and juggling…
He was right about two years ago— but credit default swaps happened and credit ratings were extended here and dropped there…
Blackrock just committed major fraud by claiming to have been frauded by some Indian dude who had NO REAL asset sheets or collateral or anything. Allegedly, they didn’t check out any of his credentials before loaning him $150bn.
They really think we’re that retarded.
https://www.zerohedge.com/personal-finance/breathtaking-fraud-blackrock-ripped-500-million-curious-case-bankim-brahmbhatt
Correction.
This is the third article I've read today about an Indian financially fucking a Western company.
so whats the play to make gains now? stay cash?
100%.
I’m doing scalping on dow jones right now, but really just for funsies. Took me far too long to learn to set limits before going in. I do 3:1 risk/reward ratio.. And hit 2/3 times usually.
Just fiddling around with house money.
Example. Dow is at 3000 I buy 1-2 micro mini futures contract. Set limits: eat loss and sell back at $150 loss and take profit at $50. So my loss will be a max of -$150 And my max gain will be $50.
Between 9:30 EST and 1:00 PM EST is when i play.
Make no mistake—It is a casino. Nothing about it makes sense, I’m only diving in at the middle of a trendline and hoping for the best.
It’s the equivalent of gambling unless you control millions of shares like the hedges… i just try to do what i think they are doing when they do it.
Watch the candlesticks at 15m and 5m, bet toward trendlines and keep last week’s daily movements in mind—there’s usually a baseline (average) and it’s supposed to trend back to that line.
thanks! are you actually making any profits on a monthly basis with this strat?
ive been trying to trade crypto for a solid while and never found anything replicable and consistent
Crypto is even more of a mystery.
Yeah, i’m pretty consistent. Some people do 2/1 risk to reward— but i do 3/1 on Dow Jones.
“Winning” is sometimes breaking even for the week, as i define it. Because you’re always learning. Losing is losing.
YOU HAVE to set your limits before the purchase or the greed or regret kicks in and you start using emotion.
It’s cool going into it knowing what you will lose, and it sucks when your “take profit” hits and you’re like “if i had just stuck it out i would’ve made xyz.” You have to be a cold bastard in options/futures. I wouldnt recommend it.
hmm i guess ill just go for gold tbh. what % ratio do you recommend for metals vs cash?
It’s important when holding gold to know where you can “use” it should you have to.
Pawning- It is the best asset for pawn shops. You get cash at a place where you can get it out of hock easily. (I’ve pawned one 5 gram gold ingot like 20 times lol) If you’re expecting a paycheck in a week, and rent is due today, pawn the gold, pay the rent, get the check, get cash, use cash to get your gold back. Pretty simple. The pawn shops hate this. They would always say “you’re already back!?” Yeah, i’m here to pay the $38 on the $400 loan you gave me and get my gold back. Get the PER DIEM interest charge, make sure it’s worth it, and don’t lose your gold.
Trading- if you or your family were starving, let’s say, the grocery stores are empty, grid is down, some type of emergency situation who/where could you trade with to get something. Would the people you know, the stores in your community— would they be more open to greenbacks or gold? My grandpa always said “ you can store gold and silver all you want, but you cant eat it” In this case, would a .22 rifle and a thousand round brick be worth more than gold? Squirrels can be quite tasty in a pinch.
Selling- this one is pretty easy. Gold over time, so far, has been the better investment. If you had a $100 bill and an ounce of gold under your mattress in 2006, forgot about it, and find it today, the $100 is still a $100 bill. With inflation, it’s lost value. You could buy more with $100 in 2006 than you can today. The gold, however, well, you know.
But, some people (like addicts who need a fix right now, or the 75 IQ cashier at grocery store) would still prefer the $100 bill. Taking the $4000 oz of gold and finding a buyer is something they havent or can’t conceive of. It would be a hassle to them. Does not compute.
Holding/storing- Do you have a family member that lives with you who has stolen from your piggybank before? Always asking to borrow money? Is it easier to store cash or gold safely for you?
Pimps put their money in gold and the gold on their neck. If they are arrested, cash is seized. Gold is personal property. One of his hoes can come get his personal property, pawn it, come back and pay his bond. If he had $4000 in his pocket, it would be inaccessible and he would stay in jail until trial.
So there’s some things to think about.
You named the biggest snake in the game.
Watch how Blackrock manipulates DJT stock on the daily with block sales.