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
23,463 Blog Posts

Bears Lose a Leg

I hope you learned your lesson, again. Fuck around, get on the other side of my trade and end up losing your house.

That’s right, today is all about smoking peace pipes and doing “victory dances,” while chuckling at you coffin fuckers. So many of you little women were thinking the market would go down indefinitely. Now you’re fucked.

A bank reported good news! Citi said they are making money, which, as a point in fact, is a license for bulls to rips off the limbs of greedy bears, such as yourself.

I warned you of the murderholes. I told you to protect your cock, while trading. Now, you get steel daggers to the chest.

As for me:

I am simply bowling in the office, doing healthy shit, living life the way it should be lived, if you know what I mean. Now that I am all right and shit, again, I intend to write a book about my exploits and inform all of you death seeking faggots how “The Fly” kept winning, despite not ever trying. It’s sort of like breathing oxygen: it just happens.

With my money, I like TNA, JRJC, CY, UYM, PCR and WNR (I bought some back).

With the market ripping higher like this, I might take a stab at a highly speculative financial.

Stay tuned.

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70 comments

  1. rodney dangerfield
    rodney dangerfield

    tradercaddy is god

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  2. Big Mike

    Hey Fly,

    PPT user here…How long you think this rally will last? That is, when are you going to be scaling back longs and initiating shorts? 740 SP500?

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  3. goon

    forget legs! i’m more of a tits n ass (TNA) man myself!

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  4. George Costanza

    I’m going 300% long, much to the chagrin of Devildog

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  5. gappingandyapping
    gappingandyapping

    Anyone have targets on SnP? I sure hope we can put something together, while this rally is good it just negates the past 2 days of massive losses.

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  6. Henry Fool

    Loaded in TNA

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  7. Cash-N-Guns

    rally has been going for 2 hours and people want to get short it…Haaaaaa….thats great..short away..much higher prices on the way.

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  8. RC

    roflmao @ front page pic.

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  9. Darius

    Where are the sellers?!

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  10. mrkcbill

    Jed, takes a roll of quarters with him to the strip bar.

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  11. j_remington

    Longs are passing the pipe to each other. With each puff…

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  12. Anton Cigur

    Funny because it’s true. Jon Stewart calls out cramer & cnbc:

    http://www.businessinsider.com/jon-stewart-attacks-cramer-again-2009-3

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  13. Jed

    mrkcbill gives himself a Brazilian bikini wax once a week.

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  14. Darius

    Watch us close 100 points lower..lol!

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  15. Darius

    Obviously, not totally serious.

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  16. punyandy

    BAC is the ticket.

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  17. Scully

    Sold all 3K of SNDK from 7.63 @ $9.05…other “fading Cramer’ longs held.

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  18. Cash-N-Guns

    SKF down 50….wow…thats an ass fucking…!!

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  19. T MOE

    T MOE shorts more SPY at 72.00

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  20. T MOE

    Darius-

    They are covering

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  21. T MOE

    Citi news is bullshit. They may have said they made money but they are not count counting their loan loss reserves.

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  22. norcal

    My FAS position is ripping higher. Does the rally last beyond today?

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  23. Cash-N-Guns

    t-moe …u stayed too late at the party laddie..short $$ was made already,..the Obama rally has finally arrived..not a bull myself..but short trade was WAY too crowded..imo.

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  24. T MOE

    I hope we see a huge sell off from these highs today. I just love seeing the down faces of those idiots on CNBC. Especially Michelle “Man Face” C. Caberra.

    I also like to hear the panic voice of Bob Pis hat Pisanni.

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  25. Cash-N-Guns

    Cabrera is a goat faced, beaner, chubby wash woman skank…fucking hate that tranvestite looking bitch.

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  26. norcal

    They don’t call it turnaround Tuesday for nothing!

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  27. dude with commen sense
    dude with commen sense

    well 12 hours ago you were the fuckin moron crying im sell everything tommorow morning you are such a fuckin moron its funny how old are you you little bitch 13-14

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  28. T MOE

    Didn’t stay late as I covered a lot last week. I am starting to reload today thanks to this bullshit rally. Look at the tape last Tuesday. Rally was led by financials (short covering of banks)and then got hammered as shorts returned.
    I will be be convinced until there is big volume rallies for more than a few days.
    I still say S&P 555 is in play

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  29. DEVILDOG

    Hey Jake, how high is GOLD going? I need to know when to sell my 10K shares of DZZ bought @ $20.57. TIA.

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  30. Goldie

    Dare I say FAS to 5 ??

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  31. Cash-N-Guns

    T-moe– me too..was gagging on FAS for a few days…! Someone should fucking punch Cabrera in the throat and egg bob Piss-on-me..and shoot fucking Madoff too

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  32. T MOE

    T MOE averaging into DUG. adding more at 29.50

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  33. TheArtist

    Michele “cunt bag” Cabrera is a dickless transvestite.

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  34. thisblogisbipolar
    thisblogisbipolar

    i feel the fly is bipolar

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  35. DEVILDOG

    Rally will run until 4/6/09. I bought in super sizes MON @ $70 and UPW @ $19.57.

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  36. Shitface

    I hope everyone remembers the bear market rallies back on 10/13/08, 11/13/08, 11/21/08, 11/24/08, and the “Obama Rally” at the end of Jan. They were so fucking fun and exciting! America is repaired! Everyone was jumping in and making money, it was the bottom! Now, we are still way underwater after those rallies. This shitty market is still going to need some huge consolidation to be worth a damn. Just a thought.

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  37. Yogi & Boo Boo

    @Gapping – If this rally is for “real”, as in a real bear market rally, we should move up to the 200 day moving average and fail. Currently that is at approx. 1050 and moving down.

    I know that sounds insanely high at this time, but if past history is a guide, we could get there pretty quickly.

    We shall see in the fullness of time…

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  38. Shitface

    Look at these fuckers on CNBC, they are about to have one big fat circle jerk. Incredible how they sit there and act like this is the bottom, I’ve seen this before.

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  39. The Fly

    US Rep Frank says mark-to-mkt accounting rule must be improved, made more flexible; says expects uptick rule to be restored in about a month – Reuters

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  40. The Contractor

    Gold will probably retrace to the lower 800’s but I doubt it goes any lower than that.

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  41. norcal

    Goldie – FAS @ $5 could be pushing it…I am hoping for $4 then exit. But if this rally were to go beyond today and we get some positive news on mark-to-market, FAS might see $10.

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  42. DEVILDOG

    Contractor, appreciate your response, however, gold will get a bounce around 830 and drop to around 600. Eventually it will go to 400 and then 200. I was playing with Jake and others like j who are losing their ass on the gold hyperinflation play. We are going into a deep deflation, deleveraging, GREATER GREAT DEPRESSION that is just getting started. Gold is going in the crapper and the SPX will hit 150. I’m going to ride my MON and UPW longs on this “uptick rule” bullshit rally…too funny.

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  43. hmmmmm

    Sam the Eagle over at http://market-ticker.denninger.net has a good article about mark-to-mkt accounting.

    He was on television too http://www.youtube.com/watch?v=n2nvKjeob3k&feature=related

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  44. mustard seeds

    Glory days,

    Kudlow is out changing his matching tie and panties before tonight’s show!

    Riding C to 2.15 today and 10 by years end….there are no more problems we’re saved…ask Dennis, he is hesitantly buying the glooms over BS.

    Boy its nice to be back in a prettier 3rd world country than Mexico…but the weather was better.

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  45. Cash-N-Guns

    FAS heading to 8.65 area….TNA t0 22 area…have fun

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  46. j_remington

    There is an increasing chance of a run on bank assets at Citigroup. That’s the reason behind Pandit’s fluff comments.

    This may be the spark for a capitulation selloff. Stay tuned.

    BTW… It will take weeks of congressional haggling before a modified mark-to-market policy is palatable.

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  47. The Contractor

    hmm…I don’t know DDog. There is still a massive amount of money that can be spent around the globe. Our own govt. has shown it’s hand in that it is willing to print like crazy to avert a depression and I don’t see why they’ll fail as long as no one (*cough* *cough* Obama) gets too retarded with tax and trade policies.

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  48. Kiwin

    The Contractor: they are borrowing like crazy, not printing.

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  49. The Contractor

    Money we don’t have.

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  50. TheArtist

    j_remington, where are you getting this info on a possible run on Citi bank assets?

    that is interesting and serious stuff but can you elaborate on how you came to this?

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  51. DEVILDOG

    Contractor, the printing of money will have no effect this time as the money is not going into the economy. It is all going to the banks and AIG to fill the bottomless multi-TRILLION $$$ loses pit, therefor no inflation and no reflation out of our multi-trillion $$$ debt pit. Our banks are worth less than zero and the money pumped into them will never be seen again. They already lost it all. The American taxpayer will be working for generations to make it up. All the government and fed are doing is a giant cover up of our failed, corrupt, elitist supply-side economic bullshit model that benefited the 1%ers and enslaved the 99% and will keep them enslaved paying taxes and interest forever. The only thing that will end this ponzi scheme is a violent socioeconomic revolution as a reaction to the DEPRESSION in which the 1%ers(central bankers)that caused it are eliminated.

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  52. T MOE

    Can you here that noise. It is the sound of the fools being sucked in.

    “Let us be thankful for the fools. But for them the rest of us could not succeed.” – Mark Twain

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  53. T MOE

    Couldn’t have said it better myself DD

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  54. The Fly said he would sell his longs today – Fly Bottom, no? It is probably hedge funds buying first and then selling as some retail comes in. The DevilD must declare this to be the Mother of all Bear Rallies for validation.

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  55. The Contractor

    Yeah, DD I see your point and agree with you about the corrupt elite but the beaurocrats are going to fight like hell to prevent a depression since it could concievably cause just what you are describing. Besides the end of the world trade has horrible odds since it only happens once and really there isn’t a way to actually profit from it in the end when you think it fully through. But you do make some good points none the less.

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  56. John Galt vs TPTB
    John Galt vs TPTB

    The financial crisis was engineered by TPTB to cement their power, not give it up. Stocks drop in half from here, at which point, TBTB will buy them.

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  57. Bear Killah

    I know what you motherfucking bear scum-bags are thinking. Well I dare you motherfuckers – short on the rally. Do it motherfuckers, please do it!

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  58. TheArtist

    T MOE, are you shorting WYNN here?

    I am completely on the same page as Devildog’s comment above, people just get giddy over the slightest puff of any news without reading between the lines.

    Here we have C at one dollar. The government has pumped billions upon billions into it, and they announce out of the fucking blue they are “making money and everything from here on out will be rosey”?….. yeh, bullshit.

    This Pandit asshat is lying, just like all these CEO’s. This day will pass and tomorrow everyone will be waiting on this bullshit “mark to market” news……it’s like each week there is some sort of fuckery “waiting to be announced” thats holds the market hostage in one way or another until the news finally comes out, only to be followed by the next “story to be announced” keeping the market hostage again.

    But nothing has changed from yesterday to this morning. No company publicly traded has made any money from yesterday to today, companies are still laying off people left and right and this ship is not going to right itself over fucking night.

    The dipshits may keep this stupid nonsense rally going all week but they will soon short again, once “they wake up again to reality” and the reality is, this entire economy is off balance and will remain that way for months.

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  59. gappingandyapping
    gappingandyapping

    Bears are going to mount a late day try, if we can hold them we could be setup for a spring higher tomorrow then consolidation. SnP 724 is my near term.

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  60. j_remington

    long FAZ

    can’t comment further on Citigroup… for obvious reasons

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  61. shorty

    ‘GOOG 900’ is bearish now….insufferable douche getting flogged.

    The latest round in Cramer vs Stewart

    Cramer = Booooyah 0

    Stewart = 2

    http://www.thedailyshow.com/video/index.jh…cramer-we-trust

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  62. TheArtist

    j_remington, can you answer my question from above?

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  63. Employment is a lagging indicator, but you are correct about these lying CEOs – if their moths are moving, they are lying……and the lying politicians ……and the lying Bernanke and Geithner.

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  64. DEVILDOG

    Guys, we will rally until 4/6/09. Then go 300% SHORT to SPX 532 as the next low. This is my certified official position based on my proprietary indicators. Funny that cnbc Michele cuntbag cabrerra is now having a pundit on to tell you this is a great entry point to buy gold…WRONG! Never do what cnbc says. They work for the corrupt ones trying to lead the cow herd to ruin.

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  65. CardiffGiant

    Hey Devil Dog,

    I am very interested in your take regarding GOLD and would appreciate it if you could elaborate. For instance even if GOLD continues to go down from here wont it still represent a better store of value than paper dollars? Wouldn’t one be better off, in terms of purchasing power, to have an ounce of gold VS $900 once we are in the depression?

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  66. to DD

    DD, once again you are using exact dates… i told only to use “next week” or “next month”…

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  67. Shutty!!!!

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  68. T MOE

    Suspension of mark to market is like adding another shell to this huge shell game

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  69. crude_oil

    Fly, are you long AXP?

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