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
23,443 Blog Posts

In the End, Negativity will Prevail!

Each and every one of you little trollops will die one day. Some of you will die with gold bricks in your closet. Others will perish under hookers and large bags of cocaine. Naturally, “The Fly” will never die, as he is immortal and will live forever. As you are reading this, I insist that you stop skimming over my blogs, as they are the most important writings since the Bible was concocted.

Let it be known, you will all pay for your sins, some more than others. Whether it be via painful leg amputations or ridiculous poverty, you will pay. In general, people are disgusting life forms, always out to fuck one another. Do not think for a second the Federal Reserve, or your political party, cares about you. You are nothing more than a set of digits, until you die. After you die, they will curry the favor of a new set of digits, so that their power is preserved. I realize some of you believe in apple pie and American dreams; but there is no such thing. All you have is your wits and your physical frame to outmaneuver your neighbors for the last piece of steak. Those motherfuckers are trying to steal from you. They plot against you as they shake your hand, due to inferior genetic make-ups and sinister souls. Be the better person and smash them with your claw-hammer (I am assuming everyone owns a clawhammer).

As I write this, news just hit, regarding Federal aid to the states. Actually, that is good news for stocks, since that was one of the big dark clouds overhanging above.

Nevertheless, I do not like the action in the yen. I do not understand why oil is gapping higher. However, I know why the dollar is falling. It is NOT falling due to our policies, at least not now. It is simply a reaction to the unprecedented short squeeze taking place in the euro. End of story; try not to over think it.

As the summer winds down and the economy continues to drag along, people will lose patience and attempt to smash each others brains out—just in time for Halloween.

Bank on it.

NOTE: I sold out of SWN and FAZ. I added to VXX and started a position in SCO.

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137 comments

  1. Bakedog

    epic

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  2. turd

    Nietzsche declared god dead but wrote about Fly elsewhere.

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  3. Kenny

    Birth, School, Work, Death

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  4. GWAR

    GIG

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    • BackAndFill

      I love your screen name. One of the craziest concerts I went to was GWAR at Iguanas.

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      • No. 1

        I was unable to pass judgement on GWAR. I must trust the judgement of a Mr. Beevis and a Mr. Butthead on whether they are cool or not.

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  5. Real Texan

    I believe tommorrow will be a tough day. Lots of overhang from today’s news.

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  6. Ecchymosis

    When I die, I will bequeath half the gold bricks in my closet to the Fly!

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  7. Trading_Nymph

    For the Yen…you know BoJ better grow a set of balls and do something about it. China helped out a bit and jumped in to sell eur/usd…but these levels are stupid esp cuz USA bitched slapped them with this QE lite they did today……remember China Retail sales comes out tonight.

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    • checklist

      I think boj action is a good possibility as well

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      • Trading_Nymph

        BoJ met last night and left everything the same, but only so far can they be pushed…and for bellow comments..lol…you guys.

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    • No. 1

      Just the mention of “grow a set” and “bitch slapping” from Bjork is very distracting.

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  8. the tree

    massive spec long position in the $Yen here that reminds me the $Euro a month ago

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  9. Chart People

    We are also immortal and will continuously supply The Fly with charts forever….and ever.

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  10. TraderCaddy

    Shrouds have no need for chart patterns or QE 2.

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  11. chivasontherocks
    chivasontherocks

    even though i have been bullish over the short term and suspect that we go higher, maybe even a lot higher, eventually, i believe these things to occur;

    dollar will reverse and have a monster rally, maybe to new highs.

    yield on the 10 year will go under 2%

    stocks will test or undercut the march of 2009 lows. there is a chance that the dow will close a gap at around 2800 from 1990, i believe.

    commodities will die.

    we are not germany of the 20’s or argentina or brazil or any other latin or central american country of the 70’s or 80’s. DEFLATION is the danger and most likely outcome to some degree. helicopter Ben, as much as he would like, will not be able to either inflate or debase the currency.

    even if the above occurs, i suspect gold trades higher than what it is now. i guess that makes the yellow metal almost a win, win.

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    • MOOBS

      Wow.

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    • The Zombie

      Good Christ, I hope you’re wrong about Dow 2800, Chivas. Even if I still own my VXX (which would hit 300 if that happened), I hope that would never happen. I’m never gonna be physically prepared for the Devil Dog scenario. Although my zombie friends would have a field day.

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    • J

      Chivas:

      no offense but when i hear:

      guess that makes the yellow metal almost a win, win.

      I always reach for my revolver.

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  12. howie2092

    16oz framing hammer at the ready.

    http://www.sears.com/shc/s/p_10153_12605_00938224000P

    much more menacing than a clawhammer, but not as fun to say/type.

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  13. kilroy

    Kunstler and The Fly seem to be in alignment alerting us of impending doom.

    http://bit.ly/csSWy7

    It reminds me of Mr. Devil Dog’s address to iBankCoin.

    I may have to watch that again…

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    • JakeGint

      I read through that and you know what started rolling around in the back of my mind?

      That this guy was just a far more eloquent Timmah Knight or Wacky Denninger. It takes a special brand of narcissism to get that comfortably smug describing the impending end of the free world…

      Then I came on this comment and it pretty much summarized my response:

      Hey, just so you know: there are plenty of people doing something more constructive with their lives than endlessly prognosticating about coming shitstorms. No matter how eloquently stated, what use is more fear and trepidation? Yes, the world (as you know it) is coming to an end. Isn’t it time to get over it and move on to doing, or at least talking about something else a bit more positive and productive?

      __________

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      • Yogi & Boo Boo

        Indeud. That comment pretty much sums up my opinion on the matter. Dreaming of Armageddon is cathartic. Living in the real world is messy. Let’s just move on.

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      • kilroy

        I have no idea if Kunstler or The Fly are narcissists or not. I don’t think that’s the point?

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        • JakeGint

          Well it is the point if you want to think critically.

          If you want to wallow in self-affirmation, there’s plenty of end-of-the worlders out there. Historically, it’s been a lucrative trade to predict doom (see “Erlich, Paul”).

          Look at all the bunkered yahoos the Dope has accumulated.

          ________

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          • kilroy

            If you want to think critically, you’ll identify what is being asserted and only focus on that.

            2 + 2 = 4 whether a narcissist asserts it or not.

            2 + 2 = 4 regardless of whether “bunkered yahoos” agree with it or not.

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  14. alphadawgg

    Indeed. Quite a bleak outlook on life.

    It’s all in vain.

    We heap up wealth, not knowing who will get it eventually (after the government takes 55%+)

    Vanity of vanities. All is vanity.

    Yet, there is more to life than what we see, no?

    The kingdom is within you.

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  15. howie2092

    22oz not 16oz is what I meant. I keep it under the seat of my pickup in case of bearshitters and non-PPT’ers.

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  16. The_Real_Hmmm

    In a way, we are already buying Treasuries for the government vis a vis MBS pass-throughs. They “printed” the money, bought the assets, hold the assets, and now reap the benefits. They transferred mortgage payments to Treasuries. Indeud.

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  17. mrkcbill

    Calvino?

    *****

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    • MOOBS

      Calvino.

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      • JakeGint

        Whattabout Calvino? Haven’t seen him in years… I assumed he’d died or something…

        _____

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        • TraderCaddy

          Another Calvino sighting?
          Actually, I believe he is back to teaching Philosophy at Nassau Community College (not that there is anything wrong with that)

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          • JakeGint

            I once took a pre-college calculus class at Nassau Community College. Great proximity to the Roosevelt Field Mall, which was a nice marketing point for many of their matriculants, as I recall.

            _______

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        • MOOBER

          I’m trying to turn the legend of The Calvino into an iBC lexicon term.

          Sort of a crazy post that somehow makes sense? That’s a Calvino.

          Odd lateral thinking that makes you question your thesis? Calvino.

          An exclamation of wonderment? Calvino!

          Many applications.

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  18. flyaway18

    I am so pissed at having flinched TWICE,
    yes fucking twice,
    at buying GDX on the dip the past two days.
    Where has Jake’s blog gone?

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    • JakeGint

      For crap’s sake, must I hold your hand until you’ve traded your Pampers for Depends?

      I could post the same thing every day for months to come — “clear to Christmas, God Bless!”

      Instead, I will endeavour to cavort and gambol, as a harlequin, for your reading pleasure.

      __________

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      • alphadawgg

        Yes, hold his hand. And make sure to pat his head and rub his tummy when he loses money, just so he doesn’t feel any discomfort. A bedtime story would add greatly to the nuturing, as well.

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  19. TheV.King

    Hey Salty Snap Kick….trading nymph saod something about BoJ…Is that what I think it is?

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    • mrkcbill

      Driving around all day listening to Bloomberg and CNBC on XM…the advertising on these stations are enough for me to question why I listen …Could I really be this demographic……holy shit?
      Can’t Take A Piss?
      Can’t Get Wood?
      Can’t Get a Date.
      Central Banks Printing Money does Hyper Inflation get you down. BUY GOLD
      Make money while the market goes up or down and be cash liquid at the close of the day.
      We Email you Aheeeeeaaaad of Tiiiiime.

      King I stop trying to figure out the Nymph long time ago….something about Iron Ore In India…kind of like a Tim Seymour with a vagina allegedly

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  20. Russian Saylor

    Dear Fly,

    If you hadn’t made money some of the time you might have acquired market wisdom quicker…

    AFLO developing.

    From my point of view, the investors are the big gamblers. They make a bet, stay with it, and if all goes wrong, they lose it all.
    Jesse Livermore

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  21. Sum_Ting_Wong

    Debt Summit is coming…..

    You have to consider the whole Global mess combined with creatures of habit. China is still key.
    Would of, could of and should of
    Was us/jpy short b4 lunch….took a few pips got “smart” got out……shit!!

    Was also Long US/Cad grabbed some pips got out…oooof…smooth

    Oh well…back to play another day

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  22. StocksRider

    Latest post in PG -Sharing Post FOMC thoughts and Strategy update http://www.ibankcoin.com/peanut_gallery/index.php/2010/08/10/post-mortem/

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  23. Vegastrader

    Any WAG for the SPX tomorrow? Are we going up, zig zag or down or all of the above. Closing price tomorrow?

    Should I buy TZA or TNA?

    Position: VXX @ 21.11 and SD @ 4.89

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    • mrkcbill

      Shoes to fall…..take long walk…..eat sandwich.
      AIG FRN SALLIE FRED…..Wheres The Beef?

      MSFT @ 12 times with 2% Div
      isn’t compelling enough? Nobody wants to own?
      INTC @ 3%…..this is better paper than 10yr
      These guys have perfected the art of minting coin..WTF?
      ADBE…”They Own the Printed Fucking Word”
      GOOG…LOL…ANDROID…YOU TUBE….ok monetize me bitch?

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    • $

      Buy a condo and rent it out. I’m lookin’
      What, is the housing market going lower?
      Bank on it, I’ll let you know.

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      • Vegastrader

        Thanks guys. I think you should cut down a little on your meds. You both sound a little over medicated.

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  24. alphadawgg

    You might be a bear if you stare at this for too long….

    http://www.usdebtclock.org

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    • No. 1

      If we spend 17 trillion on a War on Debt Clocks, that problem should be taken care of.

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  25. Satanfeller Luciforgan
    Satanfeller Luciforgan

    Oil may be rising due to leaked-in-advance news about a pre-emptive attack on Iran by Israel or the US.

    Just a theory. Let’s see how it plays out…

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  26. Carsony

    Looking at a 3 month chart of Vxx. Looks like the Grench should be sitting up top. Buying more at 20.

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  27. Jack

    panama, I think you have it twisted my friend

    Iran has China, Russia, North K, AND the whole middle east on its side

    the US is on its last crutch IMO

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    • panamaorange

      Russia isn’t fully on there side.

      http://af.reuters.com/article/worldNews/idAFTRE66E1GI20100715

      How the Hell would all of those countries team up against the US? They can develop all the carrier killing missiles they want. We still have tons of long range nuke bombers, and hidden nuke subs. And those are just the weapons we admit to having.

      We have enough conventional airpower to fight all those countries, simultaneously, without ever having to use a nuke.

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      • No. 1

        LOL. If Jack thinks Russia and China want Iran as a nuclear superpower, then I want whatever he is smoking. You know it’s good.

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    • Russian Saylor

      Jack you know JACK SHIT about shit ….

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  28. TraderCaddy

    You don’t have to understand Taiwanese to understand Taiwan gets it.

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

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  29. HuggieBear

    Im pretty short now.

    Took a little start position in SCO. Holding on to 700 TZA. Bought some Oct SPY Puts. Still 25% in TLT and holding 1000 VXX (neither of which did much for me today, but i have high hopes for them in coming weeks).

    This is all pretty unfortunate as I hate to see the economy seize up as it is doing….its rather quite serious.

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  30. TraderCaddy

    Suggestion for next years iBC shareholder meeting.
    Hold it in the Gay Bar to open next to the “mosque” near ground zero and watch the fireworks.

    http://www.foxnews.com/story/0,2933,599062,00.html

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  31. arch

    well, look at those futures tanking

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  32. Le Fly

    Looks like my edz will rip tits in the morning

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  33. Le Fly

    Fuck the world!! Jingoism is alive and well!!

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  34. GonzoTrader

    I don’t think we will need to wait long…..

    The Fed news was pretty bleak,,,,we were not even able to fill the gap today

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  35. theman

    Fly, that made me laugh.

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  36. mike

    What happens when it’s discovered that David Blaine has been hired by Citadel to levitate the market?

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  37. arch

    im 75% cash –25% unsettled cash…im playn tomorrow since i pillage your accts today

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  38. Cascadian

    The cat that talks

    http://www.youtube.com/watch?v=rKS_hRH4ots

    it even says shit and fuuuuK

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  39. Bullish

    What’s with all the negativity tonight? Mr Bernanke just gave you the ultimate poker tell… He ain’t letting this recovery run out of steam.

    You wanna bet against the guy with aces up his sleeves? Not me.

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    • gsavli

      yes, fed might produce already its second poker of aces in this game. no one can win against two pokers of aces in the same game.

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    • arch

      just thinkn a pull back is just what i want to see here …a big one ,not a 50pt ..so i can buy stuff i have been watching..so with that in mind and what i saw today .hope it happens

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      • Bullish

        Have you guys heard any meaningful warnings from the CEOs? All I keep hearing is talk of growth and improvement. Now you add in a reckless Fed willing to throw in the kitchen sink… sounds bullish to me

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        • arch

          yes , i did ..they arent hiring..along with the chosen one sticking it to the big boys who take jobs out of the country ..plus ceo fly has inquired about a 300 pt sell off…add that to the fact that most of the bulls threw more of their money in a ridiculous attempt to pull the market back up after hearing the truth,and futures are ,well,heading down the shitter right now…i would say im on the right side right now..

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  40. TA

    Nothing like being a permabear

    Just call for a crash everyday and people will laud you for being right even if it’s a year early
    Sticking with Scott’s hot hand

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  41. Cheesefries

    TC:
    Played Royal County Down today with my father. What a golf course. We ferry across the Irish Sea tomorrow on our way to Dornoch.

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  42. WSJC

    Post Feds and post Option Expiration and the Euro gets fucking CRUSHED! WOW

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  43. noodle

    told you bitches. weekly resistance makes you look stupid, with all your reasons and shit

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  44. Le Fly

    Sinners!!

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  45. trollop

    I died today 🙁

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  46. Minute Trader

    Looks like we have some buyers. There’s gotta be a range here. Get your TNA ready.

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