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

It’s Coming

Prepare for a sell off that will blind many and “de-sack” most. The Dow Jones will slide, under a “brick umbrella” of egregious sell orders, as money mangers yell out : “GET ME THE FUCK OUT NOW!”

While it’s true, I am not prepared for a decline. It’s also true, I do not need to be prepared.

For the day, I enjoyed more gains and took advantage of such “greenery” to raise some cash. Over the next few days, despite the temptation to buy everything under the sun, I will exercise some prudence and raise more cash, perhaps as much as 35%.

In short, I’m still retardo bullish on the markets. However, let’s call a spade a spade here, being up 15% inside of two weeks, in a moderately aggressive asset allocation model, is a little much. Believe me, I know I have the skills of the space alien magician when it comes to picking stocks. But, I’m not going to return 600% in 2010, unless of course I tossed my whole book into aggressive call options and said “fuck it,” just prior to my removal from the general population.

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60 comments

  1. jg

    fig

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  2. AI

    INTC just killed it

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  3. Scarface

    would the market go fucking ape shit up after INTC killed it? at least for tomorrow.

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  4. Tim Knight

    Fuck, I have a six figure position in the SSG FUCK!

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  5. The Haj

    Anyone got an opinion on WNMX? Some site says this is a good buy…. anyone?

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  6. SteveTheNeighbor

    I am taking the test tomorrow to be a Census taker and I have been practicing all day. I hope that I don’t have to join Acorn or pledge allegiance to Dear Leader before getting hired.
    Neighbor, if I get this temporary job please don’t slam the door in my face if I ask you about how many blue toasters or Keurig machines you have. It may be required.

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    • TheOtherNeighbor (the evil one)
      TheOtherNeighbor (the evil one)

      I promise I won’t. But you have to promise to stop walking around your house butt ass naked. As you know, the last blowout Fly and I had cost me my fence via his freakish chainsaw outburst. Hence, I can now see into your bedroom. By the way, tell the misses she has a great ass and if she’s ever bored, well, my wife is usually gone from 1-3 in the afternoon.

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      • Po Pimp

        A true playa would have his old lady partaking in the festivities… while on a leash (the wife that is).

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  7. Flux Capacitor

    It f*cking figures – three days after I get off my ass and go from 90% cash to 80% long, it’s time to sell.

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    • Goldmund

      That pattern will continue most definately, with a attitude like that pal.

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  8. mhass33

    Will INTC’s earnings take the market higher in the morning?

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  9. No One

    Someone doesn’t want INTC up. We can go down tomorrow.
    Wait.

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    • sandfleas

      You mean there’s a Someone
      and a No One too?
      While reading Fly’s ominous post,
      I was listening to Michael Jackson’s Thriller
      on Pandora, lol.
      Song fit the moment…..

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  10. DPeezy

    Up/Down…rotate…what?
    Good luck not getting dizzy: http://firstpersontetris.com/

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  11. AL MONTANA

    INTC consensus, it was a tax benefit INTC had a 12% tax rate for some reason. Will be 30% next Q on guided down margins. Without the tax benefit, they hit estimates. On lower margins it would have been a miss
    GET OUT!

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  12. Russ Andrews

    Know what the problem is Fly? You’re too modest, self-deprecating, and don’t cuss enough. Try being yourself and loosen up a little. Say what your really think and don’t give a damn about the jerks on the internet. They can find their way to Hell on their own. Personally, even though you have restrained yourself, even after the pledged-drought of cussedness, I have made money from your suggestions. And, I appreciate that. Loosen up, Sir! And, thanks!

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  13. TraderCaddy

    LLTC beat large a couple of days ago and was down about 2% the next day after being up in the AH.
    Watching TXN,KLAC,NSM, etc. in the AH reminds me of this 4 year old on the drums-Won’t Get Fooled Again.

    http://www.youtube.com/watch?v=AMnwOZA0DQk

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  14. The Fly

    Lol@ loosen up suggestion. If you think I am uptight you should meet….well nevermind.

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    • Mr. Limm

      Diss is a RIE!!

      Missus Fry VEDDY nice woman. Keep exceptionary crean house, VELLY stlict wit dah chill-dlens.

      AS IT SHOURD BEEE!!

      __________

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  15. sailorboy

    pshaw. nothing new here except intc gets opex tomorrow, too. the past few quarters have been a solid “sell the report” scenario – but are you going to bet the stock won’t rise ahead of earnings? these were great results and the stock ran ahead of them. watch for more runs ahead of the report in these semi and semicap names. this is going to be an unbelievable earnings season on very easy comps. watch for “selloffs” in the bigger names to drag down all you silly fucking etf investors. the big selloff is not likely until the first or second week of feb.

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  16. Mr. Limm

    Wow!!

    L. Kerry wit Sheira-E??

    I taught she was steel raundering Plince’s foofy Ribelace shirts?

    _________________

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  17. StockRake

    “de-sack” is a great verb for the modern dictionary.

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    • MX2101

      I live with a cat named Ollie who has been “de-sacked”.
      It is not pretty, looks like something has been scooped out.
      I think he should wear something over it, very humiliating.

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  18. mrkcbill

    YHOO has $20 written all over it.

    Major Cock and Balls formation.

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  19. TA

    What JPM reports tomorrow is all that matters.

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  20. Speculation

    The SPX needs to make it over the last swing high. JPM earnings in the morning will be the key.

    http://bit.ly/7Negla

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  21. OldA

    Fly – at least you are honest about taking money off the table and why! I commend you.

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  22. arch

    i will prepare

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  23. HuggieBear

    Fly, you share my sixth sense — first, you bail from GMCR mere minutes after my warning (which proved to be early rather than prescient). Next, i call “something is not right” with the market as i start getting flat while reading your taunts of speedchopping shit next to your balls, which causes me to question myself, only to see you raising cash within in a few hours.

    I don’t view this as confirmation of my views, but most likely a confirmation of a lack of soundness in your views. I do hope i am wrong.

    I have to tell you, while i am usually right, i am nearly always early. And your timing seems eerily near to mine. It could be that 10 years of hardship rather than winship has sharpened me, but then again that seems a suckers bet.

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    • sandfleas

      For the life of me,
      I could not decipher your post.
      KISS.

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      • HuggieBear

        Even though i was once attacked by several hundred sandfleas on the beach in jamaica, i still like you. You are an exceptional sandflea, in that sense.

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        • sandfleas

          I like you, too, in the sense you speak of as well.
          You know that KISS
          means Keep It Simple Sandflea,
          I wish you much winship in 2010.
          Remember how the great Jesse Livermore
          made most of his money.
          By sitting on his hands, he said.

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  24. Alvari40

    I thought it was by putting a gun in his mouth.

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  25. Tiger Wood

    Hi..this is Tiger. Hope all is well. Don’t tell Elin I slept with 125 women. She thinks I only slept with 12..hehe.

    Back to rehab session #23 “The importance of keeping your pant zipped”.

    BORING.

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  26. slim

    Low blow with the call options… Thank you for that. Just don’t hate my (superior) success.

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    • hey bro

      If your success is so great then why take offense?

      Shouldn’t you just say fuck off, and push somebody down the stairs?

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  27. Speculation

    Thats it. We have bottomed for the day. May I suggest Caterpillar? CAT

    Next week will be up. Good day.

    http://bit.ly/5rBXEf

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  28. FIG

    sold out of my SQM today north of 42.45. And just bought a small position in SD, but will have a tight stop in case this gets way out of hand. Once again, Fly has the pulse of the market, and tells us what to do to save our asses. All hail Brundlefly.

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    • Mr. President

      Instead of stops in SD, youd’ be better off just buying and stashing it away, not looking at it for a few months, and forgetting about it. Stops will make you lose money – SD will make money, it’s just a matter of time. Nat gas will cycle back up, eventually.

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  29. Jimmie

    I bought 525 shares of BIDU today my broker tweeted me and said it was going to 1500 by the close.

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  30. Mr. President

    Bought LIWA and ADY…just because. I have a China feeling, and I’m going with it. I’m long CPBY, FUQI, ADY, and LIWA.

    Oh, and I doubled my position in SD. I am sincerely hoping it will get back down to the 8’s, in which case I will quadruple my position.

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