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
23,445 Blog Posts

DO NOT BUY

The thing that scares me the most is the fact that gold is up. People are running to safety. This is not over. If you bought the bottom, entertain me and take profits. Right now, my [[VXX]] position is 20%+ weighted in my portfolios, coupled with my 40% cash, I am actually up on the day. I do not mean to brag on a day like this, because I’ve been on the receiving end of the shit stick. But, you really need to come to grips with the fact that you have no fucking idea what you are doing.

Take heed, else feel the brunt of a full blown sovereign debt crisis.

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46 comments

  1. jg

    fig.

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  2. JuiceyFruit

    exactly .. good words, boss

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  3. theman

    was in Spain recently (lived there many years and speak the language), things are in bad shape and there is no hope of improvement any time soon. Strangely, real estate in Madrid has not cratered…yet.

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  4. Migrant Miguel
    Migrant Miguel

    I thought you get the shit stick checkup when you’re over 40

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  5. Andre

    Wish I could let go of some of my portfolio, tradeking is down.

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  6. ibankbunk

    lucky to be out on tuesday 95% cash

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  7. sniper6

    WTF has happened here? I go to a meeting for a few hours and I come back to this shit, fuckin’ AAAHHHHHHH!!!!!!!!!!!

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  8. Migrant Miguel
    Migrant Miguel

    ha ha ha. Zerohedge blew up.

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  9. Phil_from_Brazil
    Phil_from_Brazil

    Well said, Señor Fly. I have no desire whatsoever to get back into this market. There may have been robot glitches, but the fact is that gold remains sharply higher on the day.

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  10. IShortYouNot

    We close below 400… I get a free lunch at PJ Clarke’s…. giddy up m’fker

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  11. FIG

    I got into cash the other day, thankfully. I was hoping to get short today, but didn’t watch the market till 3:00 or so. By then, the market was cratering. I want to see this thing come back so I can get short with confidence. The double dip is around the corner.

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  12. stu

    I sold SPXU for 10% profit… when would be a good time to get back into it? Same for VXX

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  13. joe

    GS enjoyng their creation!
    You fuck with us, you fuck with God.
    These cocksuckers need to be erradicated, even though i ma long them sons of bithces

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  14. Molecool

    I dunno – I think I know a little as I am swimming in profits today…

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    • Great Balls of Fire

      Sure, but you are a fucking retard for shorting stocks the past 14 months up to this point.

      I applaud the 10% gain on your account, which is likely already down 99%.

      Fucker.

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  15. The Fly

    Nasdaq fucked up on PG. It printed $39.

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    • FIG

      They didn’t fuck up. There was a seller at 39, so they got sold out when someone bought their order at 39.

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  16. MOOBER

    Sold it all baby

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  17. Hawaii Five0

    Maybe Jake does have the right idea.

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  18. ZenProfit

    Suppose this was a test Al Queda? Computer hack, not fat fingers????

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    • FIG

      hahaha, yeah, quick turn on al jezeera, they are reporting that Osama Bin Laden hacked into the Goldman Sachs systems to get the markets to tumble.

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  19. FIG

    LMAO!!!! Someone inputted a B instead of an M. Yeah, the market sure had a BM, but believe me, this was not an error.

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    • ZenProfit

      Hey, million, billion emini’s, it’s all Monopoly money.

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  20. No One

    Don’t be coward.
    Buy the bottom. It’s all games. Gold was a technical buy.

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  21. mrkcbill

    BATS you got some splaining to do. The best in Heartland engineering.
    Sureal [sic] tape. Fly you drinking Monster today?
    CNBC and IBANKCOYNE is the bomb!

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  22. MOOBER

    Fly – now that I’ve stopped my hands from shaking, I hope you are feeling ok and that your doc appt went well.

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  23. Goldie

    Best post ever fly

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  24. FIG

    Damn, who got ACN at a penny.

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  25. Pedro

    Accenture to .01? Wha?

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  26. TheV.King

    The V.King preferred/hybrids are getting their nuts crushed….but my large position in GLD makes me feel very juicy.

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  27. Migrant Miguel
    Migrant Miguel

    Holy shit, anyone else what to throw a brick through the TV when Maria B was screeching about “Who’s asleep at the wheel?” Imagine waking up to that. UUUUGH

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  28. Asteroids

    Dear Le Fly: Your prediction of a 10% decline a few weeks ago was very correct. I position myself appropriately and I have made a modest amount of coin today. Thank you.

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  29. Dave

    I’m up on the day, thanks to a few shorts, some OTM puts, and a pinch of luck. Time for an egregiously late brunch.

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  30. Jakegint

    Chart of the SPX looks like a mosquito, not a fly.

    _____

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  31. rookie

    what do u mean fly??? buy the dip worked like a mother today ….

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  32. Jakegint

    The “buying on weakness” stats at the WSJ show over $720 million in SPY, VWO, QQQQ and EWA today.

    That’s a lotta buying on weakness for four ETF’s.

    __________

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