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
19,348 Blog Posts

Have Faith

Forget about Jesus for a second. Here on Earth, the Federal Reserve is your God. They set policies on interest rates, which has a ripple effect on everything that you consume, from rat traps to houses. Being long this market, like religion, requires a certain amount of faith. You must discard reason and “blue blazer thinking,” and just go.

Where are we going?

Answer: To heaven AND MORE, vis a vis free money and cheap liquor.

Your opinions, as well as mine, do not matter. All that matters is the fucking monkey playing the accordion and how that pertains to my annual income. See what I am saying?

I bet you are not following me.

Okay, imagine you were in the street and some asshole came up to you and said “yo, don’t touch that mailbox over there, it has cancer on it.” Now, would you go over to said mailbox and touch it? If so, that means you have faith in that asshole not knowing what the fuck he was talking about. If you avoided the mailbox, for fear of contracting a most heinous form of cancer, your faith would be placed with the asshole, who apparently is “in the know” on such forms of infectious cancer.

My point is this: if you short stocks, you will get cancer.

NOTE:
Into the bell I bought 2,000 POSCO (ADR) [[PKX]]

[youtube:http://www.youtube.com/watch?v=UDvSO9UNFiY 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter

31 comments

  1. Le Fly

    They missed. I will buy it back in low 70’s

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • ZenProfit

      Does GMCR cure cancer?

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • xxxHuggieBearxxx
      xxxHuggieBearxxx

      That is good to know. I would like a double dip of my previous GMCR experience.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Po Pimp

      They lost 0.09 / share on warranty replacements that they seem to believe are behind them now. They also had 0.06 in transaction costs related to the DDRX acquisition that came off the bottom line. Add those back in and they blow away estimates. This is a panic sell off that might last a few days. In the end, GMCR will be higher (split adjusted) in a couple of months than it is today.

      At least I hope so.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  2. Le Fly

    The root of the problem is incompetant government, not banks

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. xxxHuggieBearxxx
    xxxHuggieBearxxx

    I do not want the cancer. What I do want is to collect my daily 40 points.

    Now, aside from my 40 points, what in sam hell happened to Green mountain?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. wilmer

    Your point went without saying, Monsieur Le Fly.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. YaBollox

    Is cancer bad? Could I get some synthetic cancer and short it?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. becauseiknow

    Maybe it is time to drink GLD and let GMCR cool off..also, tiesto>armin van buren> ferry corstein

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. Mr. Cain Thaler

    Thank you. This is the first time I’ve managed to forget tin foil hat idiots and really laughed in the last 24 hours.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. No One

    No faith in seasonality?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. panamaorange

    Looks like the euro short squeeze has begun. This is why i exited shorts yesterday, near close. Im still out of all DIA/XLE/IWM swing shorts, and won’t get back in until the FXE gets sqeezed back to 133.00 or so. Made profit on XLE IWM, lost a lttle on DIA

    Still long some DBA from 24.44–yesterday. Scaled some out into those spikes.

    We should get at least 1 more panic squeeze.

    Wait for the late euro shorts to be brought to their knees, before returning to the SRScopter.

    http://www.youtube.com/watch?v=i5hnk36J-Wc

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. needle dick the bug fucker
    needle dick the bug fucker

    what kills me.. Greek folks dont want the bail out. German folks dont want to give it. Yet these ham and eggers are gonna folk over the dough just to protect, a flawed idiology. The EURO!

    now or later Greece will default..

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • wilmer

      The Greek populace doesn’t want the bailout because it will come with harsh austerity measures.

      The German populace doesn’t want it because they will have to fund most of it.

      What both parties fail to realize is how much they have benefited from implementation of the Euro. The Greeks, with improved purchasing power, lower financing costs and higher standards of living. The Germans, with improved economic clout and exports.

      What this means is that the Euro isn’t a flawed ideology, but the general voter is dumb as a box of rocks and doesn’t understand socioeconomic issues one bit.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Mr. Cain Thaler

        Yes, I can distinctly see how the Greeks have benefited from lower financing costs…

        I think the whole fucking planet can see how the Greeks have benefited from lower financing costs…

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • wilmer

          It’s time the Greeks become fiscally responsible. The problem is their socialist ideology, not their financing rates.

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • Cascadian

            The Greeks will riot in the streets and think their rioting got them the bail out. When things go bad again they will riot some more.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • Mr. Cain Thaler

            This is true.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
  11. mrkcbill

    http://ibankcoin.com/flyblog/2009/12/29/ibc-predictions-for-2010/

    Pretty Good Pretty Pretty Good

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • ecchymosis

      I’m still waiting for the victory parade after IBC conquers Romania!

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  12. carsony

    I watched a few interviews last night when the panel was questioning GD
    what a racket.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. mhass33

    The Fed does not control interest rates, it simply reacts to the market. Currently the market has yet to demand higher rates on T bills… when that happens the fed will also raise rates. They are actually LUCKY because of this whole Europe thing, it is a distraction from the real problems here in the US and allows this game to continue.

    http://www.elliottwave.com/images/charts/fed-can-stop-deflation-1.jpg

    Rates were low back in January when we had a correction, they alone do not keep the market afloat.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. Mr. Willy Holder
    Mr. Willy Holder

    smoke some POT…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. the Devil you know
    the Devil you know

    Great analogy, because we all know what happened to God.

    He died.

    Yes, I know a few flakes still profess to “believe”, but when was the last time a Catholic priest showed up at your front door with a collection basket and a hard-on? As God died, so will the Fed.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. Taqiyya

    Satan ya no, moi sez the only one who came to my door was a poof atheist with velvet lined wicker basket and short mistersofty shares.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. scum bucket bitchez
    scum bucket bitchez

    fly is livin’ on squid jizz.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. TA

    GMCR is broken and needs time to heal. Don’t be a hero, let it setup again.

    The trend has been broken since the leaders starting getting shot early last week.
    Don’t trade unless you want your broker to be rich.

    Gold is the only thing working right now.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. lindsay

    ibc blue blazers would be another good item in the ibc store.

    • 0
    • 0
    • 0 Deem this to be "Fake News"