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
17,086 Blog Posts

Down the Sewer Pipe

Fuck you CNBC for putting that fat fuck Phil Lebow on teevee today, talking up the auto sector. That’s the last fucking sector, in the whole entire world, I’d want to own here, save some bullshit Chinese burritos fraud stocks. We’re down 8 straight days and now many of you asshats are going short? Good luck. I suppose, to a large extent, it’s all a crapshot.

The only redeeming thing about this whole mess, for me, is witnessing Obama and Congress fail, on an epic level, in trying to turn this economy around. They are sitting ducks, dead in the water, future ghosts.

If I was 100% long today, I’d visit my friends office and punch the shit out of his sheetrock, in an uncontrollable exhibition of rage, then calmly walk out as if nothing happened. It’s days like this that makes me want to throw firecrackers at people or slap pedestrians in the face with hot slices of pizza.

If this market trades down tomorrow, that will make 9 straight days down. This is a KARL DENNINGER, ZEROHEDGE, DOUBLE BLUE BLAZER, APOCALYPTIC dive lower, no safety net. If you are a bear, this is your chance to kill everyone and eat their brains. You must pray for state failures and civil wars, famine and pestilence. Throw in a little epidemic, and I believe this market can go lower.

In the meantime, like a fucking idiot taking an MCAT exam, I sit here waiting for someone to give me the answers. The mood is outright morbid and we need Uncle Ben to get his “press on” so we can feel a little bit better about ourselves.

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97 comments

  1. Josh

    We need more cowbell.

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  2. Juiceyfruit

    Trying to pick the bottom of this market is like trying to pick the top in Gold.

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    • lol

      I’ll let you know when the top in gold is here…. ask me again in 3 years.

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  3. ALLPROz

    Shit…NUMB is spot on….uncomfortably numb!

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  4. Prospectus

    I’ll go pick up some extra blue blazers down at the Goodwill

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  5. xxxHuggieBearxxx
    xxxHuggieBearxxx

    Complacency and hubris have finally caught up with me. I zigged this week when i most certainly should have zagged. Down 4% on the day and there seems no end to it.

    Time to go home and figure out how not to lose all my money as the world falls apart in front of me.

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    • xxxHuggieBearxxx
      xxxHuggieBearxxx

      -5.7%

      good god

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      • JakeGint

        Stay away from the butane, for phuck’s sake!

        _____

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        • xxxHuggieBearxxx
          xxxHuggieBearxxx

          the extent of this move caught me off guard…i prematurely removed my fire retardant gear and…well…you know what happens next.

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        • xxxHuggieBearxxx
          xxxHuggieBearxxx

          tonight i will be recoiling like a turtle into his shell…i just need to get home, survey the damage, and make all necessary adjustments.

          What kills me though, and it is indeed killing me, it that I am going to need to liquidate quite a few long positions. I hate to do that after a 9-day drop like this….because you know what comes next and what i will miss.

          But you just never know when it will be 2008 all over again…

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          • Po Pimp

            Good God I know exactly how you feel.

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          • NWO club,you're not invited
            NWO club,you're not invited

            Was the Plunge Protection Team not covered for on the debt ceiling? Could’ve used a heads up on that

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  6. Johnny2time

    Epic move in gold!

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  7. riggedgame

    I bought 5000 F here at 11.86

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  8. Sierra Water

    Naz Weekly 50 sma could provide the bounce..

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  9. HEADON!

    Daily RSI(5) is < 10. It hasn't been this low since June 2010, and we rallied 100 S&P points over the next 30 days.

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  10. riggedgame

    I bought 100 GLD Aug 155 puts

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  11. mutabaruka

    Fuck I’m confused. I will add to my AAPL right here Fly Is it ok to throw pizza at the wife if she asks me again how my day is going.

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  12. Prospectus

    I blew out of my TNA position. The support didn’t hold. GL Fly

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    • HEADON!

      Support on a leveraged ETF? You trollin?

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      • Prospectus

        No. I just expected an end of day bounce and it didn’t come. Rather than hold overnight like a deer in the headlights, I sold out. Tried to catch a bottom with a small size, didn’t pan out. Take the loss, don’t let the trade become a millstone around my neck.

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  13. Yogi & Boo Boo

    The Austerians have arrived. They will eat your brains. Good day.

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  14. cronkite

    hahahaha Phil Lebow on the auto sector was funny no ?

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  15. Colonel von Ryan
    Colonel von Ryan

    Latest release from Herr Goebbels to all media outlets: “George Bush and the Tea Party are at fault here, they’re terrorists..”

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    • JakeGint

      That stuff has a lot less relevance in the age of distributed media. Even the Newspeak is breaking down…

      ______

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  16. ruggyup

    absinthe

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  17. The Equalizer

    First you take some shit, throw it up on the wall…

    http://www.youtube.com/watch?v=ZJfZTr8zMsc

    This market is, and I quote, “a stack of fuck shit, on top of itself.”

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  18. Mr. Partridge

    too many stops hit to list….. this is a pool of blood

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    • ForexPhucker

      For market makers that usually means it’s time for them to buy.

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  19. razorsedge

    my etrade screen just went heywire,,

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  20. kmoney

    “Barely an hour after the House of Representatives passed the debt limit bill Monday night, Majority Leader Eric Cantor announced that the chamber would begin its August break early, and that there will be no votes until September 7”

    Read more: http://www.businessinsider.com/congress-leaves-long-to-do-list-as-august-recess-begins-2011-8#ixzz1Tu7ZSmln

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    • kmoney

      just great…they need a vacay for s***ing on the economy

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      • The Fly

        ASSHOLES

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        • Cato

          Assholes is being kind. These fucking pricks are audacious , pompous eaters of shite. The only reason I don’t call for a revolution by rusty pitchfork is that they are marginally more intelligent and thoughtful as the moronic average Joe American pleb fucktards they represent.

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          • JakeGint

            What would you want Congress IN session for?

            They are an accident waiting to happen. Let ’em go home for-frickin’-evah!

            _______

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          • Mr. Cain Thaler

            Agreed. An out of session Congress is a safe Congress.

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          • drummerboy

            “the one minute manager’s”, zap em,then leave em alone.

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          • franky

            what about that FAA vote? losing 200million a week ? that’s a reason to keep the fucktards on deck another day.

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          • cardiffgiant22

            First they need to give us back online poker then go away

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  21. xxxHuggieBearxxx
    xxxHuggieBearxxx

    It is absolutely fucking clear that we need QE3 and we need it now. This is no time for The Bernanke to sit on his hands — he needs to get out there and start talking up more quantitative easing.

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  22. TraderCaddy

    “… like a fucking idiot taking an MCAT exam, I sit here waiting for someone to give me the answers.”
    Sounds like Dr. Fly had some difficulty with the MCAT.
    Should have taken the DAT and become an orthodontist or implant dentist.
    Cake work and don’t have to worry about Obamacare messing with you.

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  23. genghis khan

    Fly- 50% long today, plus your TNA and other buys – what’s your percentage loss today? This globalization business has really sold us out, don’t you think? Only people benefitting here are the Bezos, Chambers, Jobs, Dell, Waltons. Joe the plumber is getting the homo hammer of death!

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    • JakeGint

      Tell that to all the auto workers who are making cars for Audi, BMW, Mercedes, Honda, Nissan, Toyota, and now, Mitsubishi, right here in these United States. They didn’t need any bailouts by Emperor O’Bama either.

      Not to mention Electrolux, Siemans, BASF, etc, etc. Do you know how many global foreign companies have plants here paying high dollar jobs to guys just like you?

      Wake up!

      _________

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      • genghis khan

        The jobs that have left the US far exceed those that have come here. Do you disagree?

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        • JakeGint

          When you say “left the US,” what do you mean?
          |
          Shitty low value added factory jobs like the textile trade in South Carolina? Good riddance!

          All those jobs have been replaced by higher paying, higher value added manufacturing!

          The result? South Carolina is richer.

          You need to measure what’s important. 200 years ago, 90% were employed in agriculture. Do you bemoan the loss of all THOSE jobs too?

          _________

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          • cardiffgiant22

            Although farming should become a great business in the next 10 years or so

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          • go2mars

            Not for the guy picking berries for your kids 12 hours a day.

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    • The Fly

      2.1%

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      • genghis khan

        With the futures rallying on Sunday night and then reversing on Monday, I thought Tuesday would have seen a relief rally. But if the man in the time machine, aka Plutonium Petey, wasn’t able to see it coming, what chance do us Muggles have? Love your blog.

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      • weirdo jay

        My mind didn’t comprehend what that meant at first and I figured 2.1 was the PPT reading. Then I realized you are in fact somewhat human (junk DNA and all) like the rest of us, and a losing day is possible even though you wear an S on your chest and wear a cape, froliching through romania on occasion, while otherwise walking around in burlap sandles and white robe, burning the shit out of chicken and nearly your face while making time during the makets for sandwich throwing at trader servant and all.

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  24. razorsedge

    my port has an std, thought i had enough protection,,,boy was i wrong

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  25. Ruben the Cuban

    Lost a lightning fast 2% before being stopped out. What a crappy market we’re in right now.

    Forget this comment, current market conditions are punching all of us in the face!!

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  26. razorsedge

    -2.6

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  27. carsony

    We havn’t seen a good ole fashion flush out like this one in a long time.

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  28. dave

    Titty-fuck a banana. Isn’t there a wall of worry we should be climbing now?

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  29. Cato

    Someone wake the bearded gimp up.

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  30. theedge111

    OPEN getting ass raped in AH. They just announced that they change their name to Closed table. Ticker(CLOSE)

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  31. Geoduck

    It makes me long for the day–

    http://www.youtube.com/watch?v=PbgKEjNBHqM&feature=relmfu

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  32. razorsedge

    back street boys just changed there name to old guys in the hood

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  33. jag92

    Is the price target on WNR still $24. Its up huge after hours. If the bearded clam says the right thing next Tues and the market bounces up, could it drag WNR up with it to the tune of another 10%? Thx, jag92

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  34. TeBoW

    What a shitty day. Any chance for some V King?

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  35. Trading_Nymph

    You know if NFP on Friday are close to being inline, the Clam won’t have any power at all. I really hate the Clam.

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    • testicules

      NFP on target… Why am I thinking the #’s will be outrageously higher than expected? Flush and rinse

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      • John

        Sure, why not? They can always “revise” downward later when nobody cares anymore.

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  36. Quint

    Did people really short gold thinking there was going to be some real austerity program chosen by our political leaders for $4T or more?

    What a bunch of maroons.

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  37. GYSC

    I have to go cuddle my gold and silver bars in the fetal position. Later.

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  38. Quint

    For anyone that doesn’t think this market is 90%+ dominated by technical traders needs to pull up a daily candlestick chart of the DJIA.

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  39. Devidog

    I’m back bitchez!! Hit 140 in the viper today

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