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
23,441 Blog Posts

Almost There

Where are the doubters now? When I said “I will not curse until 10,500,” most of you thought I was mad, especially since that was 700 points ago. You tilted your heads, similar to how dogs react to strange sounds, looked at the screen and said “grrrruffff.”

Well, I am going to let you in on another secret: I will not be cursing for another few weeks, if not a whole month. The market is overbought, fish face. All of the dumbest people are diving into empty pools here, elated with their market prowess, willing to press the envelope “one more time.”

Luckily, “The Fly” does not fall into such a “stupid camp,” and is now enjoying the luxuries of a 60% cash position. Granted, I dropped 500k on W.W. Grainger, Inc. [[GWW]] yesterday. However, GWW is a low beta stock and will not clown rape me on a pullback, unlike many of the other stocks that I shed. Plus anyway, GWW is a $100 roll play, entirely worthwhile.

My advice to you: do the opposite of what Joe Terranova says and go get your shoes shined.

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22 comments

  1. shoe shiner

    fig

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  2. cardiffgiant

    Are you planning any more PPT promotions such as the $2 limited time trial offer ever again? If not i understand but i would love to get in and take a peak before committing 50% of my bankroll to a full subscription.

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    • Jworthy

      It will pay for itself, brah. Just dive in. Serious.

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    • The Fly

      I don’t think so. When I did that, it caused more of a headache than anything else.

      Actually, we are working on numerous upgrades to The PPT system, which will lead to an actual PRICE HIKE, in the future.

      However, all current PPT members will be Grandfathered in at the original price.

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  3. Nail in Nails

    Fly,

    I thought PPT ranked this market as way overbought, but you’re going against it by plopping 500k into GWW. Sounds bullish don’t you think!

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    • The Fly

      500k is like pissing in a bucket.

      PPT did point to an overbought condition. However, that does not mean we can’t stretch it out for a few more days. By then, I will be selling GWW at $104.

      PPT never lies. Charts do.

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  4. Nail in Nails

    NICE~! I do not need to wish you luck, since you always WIN~!

    Are you still holdling those faz and srs shares ? I don’t recall you sellign them

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  5. The Fly

    I do not find that joke amusing, Lenny.

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  6. ZenProfit

    $3+ million for a vacuum cleaner and Shop Vac in Lucite cases. What recession?

    http://www.christies.com/LotFinder/lot_details.aspx?intObjectID=5261472

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    • KreppaNu

      It’s unbelievable that people buy that shit. Jeff Koons is a wanker of highest order.

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  7. becauseIknow

    Lord Fly,
    Are gold stocks overbought?

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  8. shaz

    Your boy Dennis Kneale just gave you a shoutout on CNBC.

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  9. toptick114

    Almost There….

    http://www.flickr.com/photos/dinomite/3397290181/

    Indeed!

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  10. Septic Tanker

    Yo Fly, Dennis shitbag Kneale just mentioned you on CNBC, hahahhaha, thought I’d let u know

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  11. Mr. President

    Call me what you will, but I bought TITN today. Will buy more in a lower market.

    Value + Patience = COIN.

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