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
23,473 Blog Posts

Prepare for Another Leg Lower

Fuck it. I am not feeling this tape, at all.

Prepare to have your faces melted off soon, as everything in the world comes crumbling down at once. Bring that fucker Bin Laden back from the dead. The market was better when he was alive and dirty. He did live like a filthy animal, no surprise there. If it was up to me, I’d douse the entire country of Pakistan and India with clorox. Those fuckers need to be disinfected, to say the least.

I am over here updating iTunes, since my fucking computer asks me to every time I plug in my iPhone and guess what happened?

Fucking guess, you prick.

MY IPHONE GETS NUCLEAR BOMBED. Seriously, the fucker exploded in a mini mushroom cloud, just prior to electrocuting me. Something is very wrong with my karma these days. I must’ve killed millions of people in another lifetime; because the Earth is trying to offer me a final destination. Just know, “The Fly” is immortal and cannot be killed, unless of course you are in possession of Kladenets—naturally.

In summary, I intend to make a great deal of personal fortune in ERY soon. Then, I will wait until The PPT goes below 2.6 to allocate my cash horde upon the faces of those clamoring for the apocalypse.

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53 comments

  1. Frog

    LOL, douse the entire countries of India and Pakistan with clorox. You have a way wit woids, Fly, fa sure.

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  2. go2mars

    Kladenets the Bulgarian villagers?

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  3. chanci

    WTH are Kladanets, with a capital K? Clorax followed by Borax is what I’m thinking, but first get all the young girls the hell outta there. shudder

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  4. arizonaborderguard
    arizonaborderguard

    When you are in possession of BIG FUCKING BOMBS(think hydrogen)you are allowed to stay filthy for as long as you please.

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  5. jeremy

    The karma is from the banned 700 . Time to make amends and let everybody back on . Think about it.

    New flag for banned 700 Don’t ban on me !

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  6. MOOBER

    Get your ass to church! 🙂

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  7. nikolay_bg

    Hey, I am Bulgarian… Chill out

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  8. skogie1

    Fly, you never mention options. Do you not use them? Wouldn’t puts on the XLE do you better than ERY if you’re right?

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  9. SuperB

    I think WNR is driving you insane.

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    • Portnoy

      I’ve got nothing but complaints from playing with my WNR, so I can see how it could make one crazy.

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  10. WTF

    It’s Cramer, noone else to blame. I believe he has a tailor-made “The Fly voodoo doll” that he pokes under the table during the show to corrupt your Carma (sic). He can’t do much though, for it will soon be refined.

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    • Baron de Rothschild

      Cramer is still getting paid for power-licking the skid marks out of Lloyd Blankfein’s thghty whities.

      “Here’s what CNBC didn’t tell you. Both Erin Burnett and Jim Cramer were at one time employees for Goldman Sachs! Erin Burnett began her career in 1998 as a financial analyst for Goldman Sachs in their investment banking division, where she worked on mergers and acquisitions and corporate finance. Jim Cramer was hired in 1984 as a stock broker in Goldman Sachs’ Private Wealth Management division. Cramer’s success in this position led him to found his own hedge fund, Cramer & Co. (later Cramer, Berkowitz, & Co.), in 1987. In fact, Jim Cramer suggests in several of his books that he owes everything that he is today from Goldman Sachs giving him a chance in the business when he was a nobody and teaching him the ropes.”

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      • J

        Baron

        Their bios are on wiki. thanks for spending the time lifting it and putting it in your own words instead of straight out plagiarizing.

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        • Baron de Rothschild

          “Plagiarizing”, that’s kind of a big word for a little man like you to use. Unfortunately, you do not know what it means. I would have plagiarized had I not used quotation marks. .

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  11. Testicules

    Friday the 13th…light volume…everything goes the wrong fucking way…direction is of no importance

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  12. Baron de Rothschild

    The Fly is right about the coming market meltdown. It is the US dollar’s turn to firm, and that means a detumescence in the commodities sector that will take down the whole market. However, today’s market shows few signs of moving in one direction or the other. Fairly strong economic reports from Germany and France, today, may keep the USD in check, and the stock market from turning red. Just the same, shorts may be the only things worth holding on to over the weekend.

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  13. MrBuzz

    Crude oil is dull here. Consider playing golf, miniature even today. Cuz the windmills will go whir whir whir and go nowhere. DULL IS THE WORD.

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    • MrBuzz

      ERY has that low $15 feeling to it as crude crosses above $100

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  14. Gobshite

    Can’t view unless I post

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  15. Gobshite

    Can’t view unless I post

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  16. Treepart

    This is comedy silver!

    “I must’ve killed millions of people in another lifetime; because the Earth is trying to offer me a final destination”

    Also, I am long CLX based on your call.

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  17. MrBuzz

    Ding!

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  18. xochi

    Ummm, I can’t log in to PPT? [email protected]

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  19. MrBuzz

    Crude futs $100.11 level continues to be area of focus

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  20. xxxHuggieBearxxx
    xxxHuggieBearxxx

    this market is heading south

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  21. razorsedge

    i own CLNE if the gov passes nat gas act, could b good fer this one. anybody else follow this?

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  22. MrBuzz

    It was a nice bull market.

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  23. theedge111

    Currencies now dominate the stock market.

    Any flight to safety into the dollar based on something fucked up thats goin on overseas has the potential to smash the market.

    Shoes everywhere: Greece, Middle Ease, other PIIGS. Inflation also sucked cock this morning.

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  24. fubsy_cooter

    Fly, you’re right. This tape is wanky, but its wankiness is a beautiful thing. Here’s my take if one has the patience to wait for the following setup.

    Its becoming more apparent that, there is an imminent and significant trend change underway. The reversal of this trend will change the direction of virtually every asset class, and will provide a multi-month opportunity for profit for those who are able to enter near the pivot. Over the past two years, a majority of asset classes have been influenced by a weakening US dollar. Currently, the dollar is trying to put in a bottom. Sentiment has reached negative extremes that mark multi-year bottoms, and the commodity complex and stocks are showing signs of topping with sentiment having become extremely positive and price volatility increasing. When the dollar puts in a bottom, the unwinding of the weak dollar trade will take several months, lasting until sentiment reaches the opposite extreme of overwhelming favoritism toward the dollar, which will likely be the point at which the dollar begins to once again roll over.

    With this trend reversal, assets that have risen for the past two years will fall..

    -Commodities (oil, precious metals, and agriculture)
    -Stock sectors (energy, real estate, financials, tech, retail)
    -The Euro

    Here is a low risk tactic for getting in on this trend early. The dollar has recently bounced at 72.69. That currently marks a potential bottom. When the dollar has its next correction, if it manages to stay above the 72.69 pivot, and reverses upward through its peak prior to correcting, positions should be bought that favor a strong dollar.

    Short commodities (oil, precious metals, and agriculture), stocks sectors (energy, real estate, financials, tech, retail) and the Euro.

    To manage risk, position size should be determined by setting a stop 1% below the 72.69 level on the dollar (71.97), and calculating how large a position can be taken such that one’s loss if the trade goes against them is within one’s risk tolerance.

    For example: With a total hypothetical account size of 100k, I might be willing to risk 2% of my account to open this trade. Thus, if I buy DUG at 32.00 (appx where it will be if the dollar breaks through its peak pivot), and set a stop at 25.00, (appx where DUG would be with the dollar at 71.95), I could open an initial position of 300 shares. 300 x 7.00 would give me a loss of 2100 or 2.1 percent of my account if the stop is hit. If the strong dollar trend continues, positions will be added when the dollar has corrections, and when it reverses higher after becoming oversold. New stops will be set below bottoming points. The reward to risk ratio is highly favorable if one waits for this setup.

    An even more compelling oppty awaits when Silver and Gold reach their bottoming points, which is why I’m only willing to risk a small percentage of my portfolio. I want to preserve capital for that time, but I believe getting into a strong dollar trend offer the potential for substanttial gains in the meantime.

    fubsy

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    • Po Pimp

      Recommending opening a position in DUG, even as just an example, is dangerous. Short USO instead.

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  25. Jakegint

    Is that the peppermint or spearmint Kladenets?

    Also, I note that you have set off a sea change…

    ________

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  26. pitbull

    “When you look at Japan, they’ll sell more adult diapers than kids diapers by 2013.” –

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  27. stinkystank

    sounds like it needs some hot cocoa and ginger snaps

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  28. Portnoy

    umm, umm good.

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  29. Arvind

    Lay ur hands off India!! It is a rising power and the world needs it. Imagine living in a neighborhood where Pakistan and China plot to destroy the world.

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