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
18,207 Blog Posts

“The Fly” Is Invincible

Turkey cannot stop the feast we’re about to enjoy.

I sold SWCH — because they report earnings. I booked a 2% win there. My quant fund was down a tenth of one percent. My active account was fine, as I have a triple sized position in HUBS, double in both ZEN and TEAM and they haven’t gone lower today. In other words, I am invincible.

Today was merely a sandwich opportunity day. I hope you slept thru the drama and ignored the tweets hating on Tesla. Markets will resume their merry ways higher tomorrow — you can bank on that.

I’m a little upset because I missed out on this NANO trade. Other than that, I had a fun day watching people play themselves retarded.

Comments »

Cryptos Racked into Oblivion — Total Losses Exceed $600 Billion From Top

This is what you call nothingness — the part of the narrative where no one cares. Apathy has set in and prices continue to plunge amidst the declines in foreign currencies.

More severely than the Turkish Lira is the new lows being endured by India’s rupee.

This is more or less an obligatory post, as the entire crypto complex falls endlessly into the $200 million pit. It looks like John McAfee will be eating his own dick soon.

Everyone was supposed to get rich, replace the dollar and the investment banks — drive lambos to their favorite avocado toast stores; instead, they got the black flag. Surrender wasn’t accepted. The bayonet was generously given and now the HODLers are in ruins.

This is an ageless tale that will repeat itself for the rest of eternity, the juxtaposition between greed and zeal.

Comments »

USD/TRY Cross Breaks Thru 7; Prepare for Annihilation #CurrencyWars

According to experts, once the Lira breaks 7 to the dollar, capital calls for Turkey’s largest banks will take place, which should start a sequence of events that will culminate the end of days…once again.

Well, we’re there now and stocks don’t like it one bit.

Look at that shit — Dow Jones down a whole hundred and shit.

WTI is off 2.3% and ETH is off another 7.5% — because apparently all of Turkey is long ETH.

Market wise — there are pockets of strength in healthcare and tech. Go eat a sandwich.

Comments »

Fly Buy: $VEEV

I took profits on VRNS and NEWR, banking 4% and 5.3%, respectively. With some of the proceeds, I bought VEEV. It just broke out and now can enjoy the open air as it run naked throughout the green fields with flowers in its fucking hair.

Price target is higher than current price.

Comments »

Reminder: No One Cares About Turkey

Turkish markets are off by 3.6% now, yet our Nasdaq is spiraling higher. Their currency is plummeting by 7%, teetering on the brink of destruction, yet Amazon is at all time highs.

NOTHING CAN STOP THIS TRAIN FROM STEAMING FORWARD.

It’s important that you understand the situation we find ourselves in — the moment in time when literally nothing could get in the way of extreme hedonism. Everyone is rich…finna get richer (extra cringe).

Chart of the day is SPOT — a dunk shot for $200.

Top picks today: SPOT, ZS, VRNS, ZEN and SONO on this dip.

Comments »

Jim Chanos Destroys More Investors Than Inverse ETFs

Why do people insist on being right, while everyone else is wrong? I can comfortably say the number 1 reason why people blow up their accounts is due to being a contrarian. Fuckers get wrapped up in the glory of making a once in a lifetime call, motivated by fuckhead movies like Margin Call or The Big Short, or Jim Fucking Chanos, and instead end up blowing themselves up in a feeding frenzy process of self-mutliation.

The number one rule when trying to make money in the market is to follow trends. That’s right, fuckheads — the market is efficient and filled with people like me who know more and have access to information that most people don’t and have dedicated their lives to the art of investment management. Do you really believe that you’re gonna ‘outsmart’ the vast majority of professionals on Wall Street because you’ve got a hunch?

Let’s also address the financial crisis, shall we?

Here’s a post I did in November of 2007, way before the crisis officially hit. What history books don’t tell you is the signs were everywhere. You can see that I was starting to pick up on them, in spite of being a 31 year old know it all bull.

Let’s face it: with the Fed put off the table, the financials are fish in a barrel. Fuck what some of you inflation hatfuckers have to say, we are too tight. The economy is not strong; therefore, rates need to be in the 3-3.5% range.

As you know, the homies, mortgage, mortgage insurers, brokers, regional banks and a variety of money center banks are getting the shit kicked out of them. All of them are intertwined in creating one of the worst banking fuck-ups– in the history of modern banking.

The short sellers have been making a bundle, betting against these fuckers–with the exception of a select few brokerage stocks.

My short list of potential ‘going to zero’ plays are: RDN, BSC, COWN, TWPG, CLMS, ETFC, CNS, MCGC, NFP, SF, AIB, ESGR, IHC, MGI, RAS, ACF, CCRT, CFC, PMI, ABK, MBI, TGIC, FPIC and RWT.

Now, I know that is a fucktardly long list. Pick and choose your spots.

Look, the financials represent the largest part of the S&P 500. With earnings being slashed and burned, the overall PE of the market is going up. Plus, let’s not forget how fucked the consumer is, with their only source of income (house) in the shit box.

This is how I view the 10 principal sectors of the S&P 500:

Financials: Fucked. Their only hope is renewed Federal Reserve cuts and a short squeeze.

Healthcare: Biotech is a major dice roll. I hate those little time bombs. Additionally, with an election around the corner, I’m afraid the healthcare industry will be the whipping pole for many democratic candidates. The only safe haven is established pharma’s, like GILD, MRK or PFE. Also, some of the cost containers, like MHS, may thrive.

Industrials: The only stocks that can work are companies that derive most of their business overseas and benefit from the wheelbarrow dollar, or who offer machinery and/or services to the booming agriculture industry. Stocks like VMI, LNN, AGU, MON, BG, POT, DE, ITT, FLR, JEC, FWLT, PCP, BA and BEAV should continue to do well. Also, it appears the military sector will not suffer, even under the Dems. There, ATK, GD, LMT, NOC and RTN look solid.

Consumer Discretionary: This is where the wild card lays. Either the consumer is dead or she received a new, shiny credit card in the mail. Thus far, looking at restaurant and clothing stocks, the consumer is dead and buried. Let’s see if she can dig her way out of that grave, in order to buy a few more pairs of plastic slippers with holes in them. The only stock I have confidence in, long term, is HANS–due to its low priced product and loyal customer base. However, looking at M, VLCM, BWLD, CROX, SBUX, HD, AEO, PERY, CACH, RL, ARO, GES, COH, CTRN, BEBE and KSS, I’d say the market is screaming recession. If not, all of the above names can quickly recover 20%.

Consumer Staples: Stocks like CL, PG, CLX and UL have survived many recessions– and are durable. Recently, I sold out of my PG, due to valuation. However, I still own CLX and will add to the position, especially if the market gets worse.

Materials: If you believe in the retarded ‘global growth’ story, this is where you buy. Stocks like BHP, FCX, RS, CENX, PCU, amongst many others, should thrive for years, providing ‘Chindia’ keeps growing. However, the sector is subject to extreme volatility– and should never be bought on margin, if you enjoy life with green paper that have ugly faces on them.

Energy: Oil at $90+ and gasoline under $3.00 has fucked the refiners. Stocks like ALJ, VLO, TSO, HOC, WNR and DK will not breakout, until this paradigm alters in their favor. For now, service companies, like NOV, RIG, GHM and DRQ, should continue to receive a lot of hot money. Additionally, the solar stocks have been on fire, as investors hope and wish for energy alternatives. I am not sold on solar. LDK should be a lesson to you solar fools. Watch those yields and silicon quality. Finally, natty may make a move here, with China saying natty is ‘seriously cheap.’ I have some clients in the industry– and they have been shutting in supply for two years. My guess, with a cold winter, natty may hit $10–sending UNG, SWN, GMXR, NGS, NGAS and BEXP higher.

Technology: Tale of two cities. The semi’s are being squeezed, with the exception of the ones who do the squeezing, like INTC. Also, having clients in the field, I understand extreme bullishness in INTC may be a profitable endeavor. However, the rest of the SOX cannot be relied upon. For the most part, good tech revolves around a select group of stocks, like AAPL, CSCO, RIMM, EQIX, CIEN, GRMN (on pause), AMZN, CTRP, PCLN, OSTK, MFE, GOOG, BIDU, SINA, SOHU, NTES, SNDA, ERTS, HPQ, MSFT, NOK, NVT, VMW, EMC, WFR, STX, WDC and a few others.

In short, it’s a stock pickers tech sector.

Utilities: With rates coming down, the utilities may thrive– thanks to rich dividends. Not really giving a fuck about the sector, I can tell you OKE, CPL, EN, D and GXP look decent.

Telecom: Another treacherous sector, if you’re not careful. For a long time, NIHD was as good as gold– not anymore. My favorites are foreign telco’s, where growth still exists. CN, CHL, CHU, VIP, TKC, MBT, ROS are favorites. Domestically, I am lukewarm on VZ and T. Finally, USM seems to be kicking ass and is a takeover target.

In summary, this market, like many others in the past, is riddled with potential pitfalls. However, much of the fucked up stuff is already reflected in the share prices. Forget about where the DOW is trading. Look at the sectors that are in the eye of the storm, like retail, financials and home builders. They’ve been annihilated to the point where mass bankruptcy looks imminent.

Anything that helps the consumer, such as tax or interest rate cuts, will make the short sellers regret living. On the contrary, should our fucktarded politicians go gangster on China, hike taxes and fuck with our cheap labor pools, pack up boys and go home; we’ll be at 9,500 DOW by 2010.

Place your bets.

I wasn’t special for being able to see what was in front of my face. My opinions were guided by price action, not some pre-conceived notion of what stocks should be doing. Before the credit crisis ended in 2009, I had switched my bias a few dozen times, sometimes bullish, other times end of the world bearish. I recall, explicitly, banking immense coin during the depths of 2009, laying down on my couch with a hoodie over my head, depressed because I thought western finance was about to end. All of the money I had been making was meaningless, since said dollars were soon to be worth less than garbage. Anyone who was careful back then, as I was, took tens of thousands out of the bank and into the house safe, bought physical gold, and kept the garage filled with dry goods. That’s how fucked up the credit crisis was — it made the winners feel like losers too.

This post is motivated by the endless parade of people that I know or come across in life who tell me they’ve blown up their accounts — betting on an option trade, or some sort of hare-brained scheme to get rich, whilst everyone else becomes poor.

Are you forgetting the whole point of investing?

Let the Rule of 72 be your guide. Can you make 10% per annum? Good, you’ll double your account in ~7 years. What if you stay disciplined and net 20% per annum? Guess what? You’ll double your account in 3.5 years.

Please, for the love of everything that is scared on this planet (dogs, coffee, alcohol, meat, beaches) STOP TRYING TO OUTSMART EVERYONE AND GET RICH OVERNIGHT. The odds of you accomplishing this task is infinitesimal. Instead of partaking in bad habits, such as being a know it all fuckhead, here are some things that might help your trading and your lives, making it a more comfortable environ for you and the people around you.

1. Clean your living quarters and office. No one likes a pig and living in a mess makes you feel like shit. Feel like shit, act like shit — you are shit.
2. Invest in your success. Buy a data feed (umm, Exodus), news resources, find a place that gives you an edge in the market.
3. Being cynical is the essence of critical thinking. However, do not let that get in the way of blindly following the herd like a dumb sheep. Mankind has progressed just fine as a herd. I suspect we’ll continue to enjoy gains together, leaving the curmudgeons behind to get eaten by vultures.
4. Take responsibility for your actions. Want a life filled with misery and regret? Fastest way to that end is to blame other people for your actions. Accept the blame and also the success. You’ll begin to make smarter decisions.
5. Be humble. You are not Le Fly and do not own an Orbital Space Cannon (OSC). As much as you’d like to be an odious monster like Le Fly, sashaying throughout New Jersey in search of wins, you cannot. Settle for being second best and enjoy the small wins the world has granted you.
6. STOP TRADING VIX. STOP TRADING VIX. STOP TRADING VIX.

Happy Sunday lads, lassies. Now go cook a grande Sunday meal and prepare for Monday’s trading wins.

Oh and fuck Jim Chanos.

Comments »

Elon Musk is High Key Crazy; Susan Wojcicki is Low Key Insane

Elon Musk is at it again, promoting ‘short shorts’ in his idiotic Tesla merch store, which is really a play on words on how he intends to destroy short sellers.

We’ve all come to admire and love Musk’s craziness — because of its high key nature. However, and let this be a reminder to you, the quiet one’s are the danger.

Enter Susan Wojcicki, sister in law of Sergey Brin — beneficiary of nepotism and CEO of Youtube.

Not only has she taken an open platform like Youtube and used it for political ends, banning people she doesn’t like, employing ‘fact checkers’ to infiltrate the comments section of videos she believes needs checking, as well as the removal of thought exercise videos aka “conspiracy theories”, which is the basis for critical thinking — now she’s permitting people to be pilfered by traffic spamming retards.

READ THIS ARTICLE

Here’s a snippet.

Martin Vassilev makes a good living selling fake views on YouTube videos. Working from home in Ottawa, he has sold about 15 million views so far this year, putting him on track to bring in more than $200,000, records show.

Mr. Vassilev, 32, does not provide the views himself. His website, 500Views.com, connects customers with services that offer views, likes and dislikes generated by computers, not humans. When a supplier cannot fulfill an order, Mr. Vassilev — like a modern switchboard operator — quickly connects with another.

“I can deliver an unlimited amount of views to a video,” Mr. Vassilev said in an interview. “They’ve tried to stop it for so many years, but they can’t stop it. There’s always a way around.”

After Google, more people search on YouTube than on any other site. It is the most popular platform among teenagers, according to a 2018 study by the Pew Research Center, beating out giants like Facebook and Instagram. With billions of views a day, the video site helps spur global cultural sensations, spawn careers, sell brands and promote political agendas.

Just as other social media companies have been plagued by impostor accounts and artificial influence campaigns, YouTube has struggled with fake views for years.

The fake-view ecosystem of which Mr. Vassilev is a part can undermine YouTube’s credibility by manipulating the digital currency that signals value to users. While YouTube says fake views represent just a tiny fraction of the total, they still have a significant effect by misleading consumers and advertisers. Drawing on dozens of interviews, sales records, and trial purchases of fraudulent views, The New York Times examined how the marketplace worked and tested YouTube’s ability to detect manipulation.

Inflating views violates YouTube’s terms of service. But Google searches for buying views turn up hundreds of sites offering “fast” and “easy” ways to increase a video’s count by 500, 5,000 or even five million. The sites, offering views for just pennies each, also appear in Google search ads.

Reminder: upwards of 85% of Google’s revenues come from ads, of which 10% is from Youtube.

In other words, MASSIVE FRAUD is taking place out in the open and no one seems to give a shit. The views are fake. The ad dollars are real, based on fake traffic. People are being ripped off.

RELATED: A political Youtuber’s stream taken offline during a live broadcast because he mentioned the censoring of Alex Jones.

Comments »

CALL ME KING SONOS — I CANNOT LOSE

Markets are down and weak — because we’re in the process of destroying Turkey. That’s what empires do, especially great big ones, they conduct warfare — sometimes kinetic, other times economic. Now with Turkey on the ropes, Italy, Spain, and Russia are next. Once Italy and Spain get run down — the entirety of the European Union shall collapse, like a giant lawn chair and whoever was left in said chair will get folded with it — spine broken and the whole 9 years.

As for me, I don’t consider my stocks to be ‘part and parcel’ of any market. They transcend normal circumstances and are quite immune to the pangs of misery — possessing an effervescent dome of protection that is both hard and impressive.

For the day, my active account is up — partly thanks to SONOS. When it first came public last week or so, I played it from $17.8 to $21.5, like an extreme champion. I announced in Exodus today that I endeavored to repeat such a nice memory and thus far — my wishes have moved towards that destiny.

A prudent man might raise cash, or even hedge, into what might be a long and dreary weekend of emerging markets. But “The Fly” doesn’t give a shit about all that — for he cannot be stopped. All of the gains are mine — you are merely borrowing some.

Top picks into the blades of an obstreperous tape: SONO,HUBS, ZEN, TEAM, YEXT, SPOT, and NTNX

Comments »

Here’s How to Use the Hybrid Oversold/Overbought Oscillator in Exodus

Everything in Exodus is visual — tailor made for this new world of ADD afflicted millennials. I send out emails to members of Exodus on a weekly basis showcasing features in great detail. Since it’s a Friday and I’m feeling good about my positions, I’ll show you the Hybrid oscillator for sectors and how one might use it to gauge markets and trade off it.

This oscillator is our predictive element and it is available in all industries and sectors. Here you can clearly see that the Tech sector was very distressed on 4/2. I’d argue that if many of you saw this, it might’ve coerced you into a full long positions, no?

The data for the Qs corroborates what I just showed you in the oscillator.

And it went straight up after that — paying for everyone’s membership for the next 2-3 years.

Any questions?

Comments »

Markets in Turmoil and Crashing, So I Bought $SONO

“The Fly” doesn’t give a shit about Turkish Lira contagion or lower equity markets. For the most part, I speak to you an unscathed man — a hardened soldier who has figured out a way to avoid hand grenades by hiding, mind you, inside of mines filled with dynamite sticks.

Literally nothing can happen to me. I am safe in HUBS, YEXT, ZEN, TEAM, NTNX, NEWR, SPOT and more.

Being that the world is upset over Turkey, I felt it was my duty to buy back SONO; because it’s times like this that people need to unwind and enjoy some music. If you’re in Turkey and watching your life savings dwindle down the Lira drain, head out to your local Best Buy and buy a few Sonos speakers. I promise you’ll be able to redeem a fair price for them when you need to sell them for food. People always like Sonos speakers. Whoever does not like them — please step forward.

The moral of this story is ageless, as it is wise: “The Fly” wins all the time and often. Come join us inside Exodus (only email required for trial) and witness the grandeur first hand.

Comments »