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
23,428 Blog Posts

PREPARE TO GET (JACKSON) HOLED

What sort of fuckery was today? Buffett buys BAC shares, DAX flash crashes and our market dives lower ahead of Ben Bernanke’s speech tomorrow. Frankly, the drama, well, it’s too much. On top of that, Hurricane Irene is barreling towards NYC, threatening to fuck up my house. None of this shit makes any sense to me, seriously. The only thing that keeps me sane is my little PPT, where mathematical precision takes a front seat.

As of 3:41 pm, I am +1.5% for the day, so I’m really not feeling all desperate and shit like the rest of you tech buyers. Nevertheless, this is a dreadful, absolutely horrific, tape.

My only solace is knowing the refiners’ future has never looked better. Oh, by the way, I just sold out of that idiot MTG for a quick .17 loss. Preposterous.

Into the bell, I am just sort of sitting here in awe of this sell off, grateful that I am not bearing its brunt. However, there is always tomorrow! Plenty of time to make up for today’s miss then.

See you fuckers later.

UPDATE: I added to VHC.

[youtube:http://www.youtube.com/watch?v=zTm-4WrIcWo 600 500] If you enjoy the content at iBankCoin, please follow us on Twitter

79 comments

  1. Prospectus

    I’m partial to the Merlin background for the site, myself

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  2. DJMarcus

    omg i love this original song excited for this remix.

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  3. alf44

    … took 1/2 my SHORTS off (so to speak) !

    Still partially hedged on the LONG side !

    Bring it Bernanke … I’m GOLDEN !!!

    .

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  4. language dork

    That was a terrible thing to do to José González’s music.

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  5. Trading_Nymph

    OK Clam do your worst..Me and the US Dollar have your Spine in our hands. Maybe we will hit you over the head with it when you can’t get it up tomorrow?

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    • Bullish

      No idea what that means

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      • Trading_Nymph

        Bullish it came from a series of earlier comments over the last few months where I joked that I was going into Mortal Kombat with the Clam, his actions has truly hurt the US Dollar, so I made the US Dollar my sidekick. Anyway, in Mortal Kombat, one way to kill is to rip the spine out of the other player..which happened about two Fed Meetings ago when the Fed really lost a lot of power when the Core CPI posted higher. Since then the Clam has been weaker and that is why I joke about having his Spine in my hands…it amuses me. Us Bears have little to amuse ourselves with.

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        • Bullish

          I was a Street Fighter 2 kinda a guy. Perhaps that’s why I didn’t understand.

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        • Bullish

          Boy, these thumbs up and downs can be cruel sometimes.

          In this case, I’ll bask in my glory knowing I provided “The Jackson Hole of Financial Commentary”.

          Who comes up with these??? Jeremy the IT Guy is crazy!

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        • The Super Clam

          I warned you about those comments regarding having my spine in your hands. You will be picking your teefs off the pavement soon enough.

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    • Cato

      Engrish preese

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  6. Marc David

    The market is playing some serious gay chicken with shorts and longs.

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  7. Sid Hyman,Allstate-CLU.MBA,A**
    Sid Hyman,Allstate-CLU.MBA,A**

    Mr. Fly. It is with regret that Allstate Insurance will be cancelling your Homeowner’s Insurance effective immediately. Your house does not meet the definition of insurable as contained in our policy. Your bathroom does not meet code, you have people living in your shed (they claim to be your illegal gardeners),your yard is eroding and you have bullet holes in your front door.
    Good luck and don’t call us. We are closed for the upcoming Hurricane.

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  8. Yogi and Boo Boo
    Yogi and Boo Boo

    Doing the Bobbit with a 3/4 position of $WNR over the weekend. I’m sure we’ll see gas lines here by Saturday.

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  9. alf44

    “I just sold out of that idiot MTG for a quick .17 loss”

    Dewd !

    That $1700.00 could’ve paid for your Pennsylvania hotel accommodations this weekend … not to mention gas there and back !

    Just kiddin’ of course !

    Certainly not making light of anyone possibly in harm’s way with this Irene biz !

    Stay safe !

    .

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  10. the man

    nice tune, for a change

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  11. qj

    Fly,
    I am curious of your opinion on MOTR, I know you liked it in the past

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  12. Testicules

    Pennsylvania hotel?….still going to get wet

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  13. The Fly

    Motr will go to zero. Don’t buy

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  14. Tex

    Any chance we get the Newsbot 3000 link re-installed under the blog tabs like the old site?

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  15. The Fly

    Tex

    Look at site footer. It’s there!

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  16. TraderRick

    Fly, Good luck to you and your family, hope Irene does you no harm. You do have time to prepare, unlike the earthquakes we get out here on the left coast.

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  17. TraderRick

    When QE2 ended in June I full expected another round would be announced by the Clam at Jackson Hole. Now I’m thinking nothing new comes out Tomarrow. In other words I am clueless other than I expect some big moves in the markets.

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  18. drummerboy

    godamn it, fly where’s le market center. dont do that dude. fuck it damn it.i’m pissed

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  19. DMG

    PMI Mortgage insurance co. ceased writing new commitments last friday. It seems all these mortgage insurance co’s are hemmoraging money.
    The acct reps for these co’s were always around with golf invites, dinner, drinks etc. Haven’t seen them in months.
    Curious about your MGIC buy…

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  20. GYSC

    Jackson Hole to be market Glory hole?

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  21. TeahouseOnTheTracks
    TeahouseOnTheTracks

    Is the new iBC look a Black Swan event?

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  22. HalfBloodPope

    I suppose right now might not be a good time to be living at sea level. At least you can get a good slice of pizza.

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  23. ruggyup

    What a sad friggn commentary on the mental make-up of today’s nouveau fucking riche. Beat feet from an 85 mph hurricane(?)? Are we so untuned to the real world, have we no insurance, is our house a pos occupied by a 7 figure income family, have we never thought about what could or might happen, have we never done any family financial planning, do we give a shit about anything other than whether Peter Luger’s will be open during a storm, is this so very different from a company getting it’s pps smacked and you bail without looking at anything but the chart pattern? Welcome to the real world where real people live all, youse guys in da Bronix and notrt and sout of da LI Expressway parking lot.

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  24. beans

    Fly
    I like the look of the site.

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  25. Goldie

    Prepared to get devildogged in your jacksonhole

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  26. razorsedge

    paradise ,amazing, its not where u vacation. it where u live. dont miss the best of life lookin at the greener grass. u will miss what u have. dont piss/gamble on over sold bull shit companies that have been told to close.there r 6000 stocks to choise from dont pick risky ones. in the end u will be a winner if u use common sence not what someone tells u. do ur own work. dont copy, use commonsense. u can built ur world on the shoulders of giants, choose ur giants carefully

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    • razorsedge

      sorry for the type o’s but i hope u get my point. im disapointed in the de-class that attends here,

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  27. Hermes

    nice tune..are you an Oakenfold fan at all?

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  28. gregoryj

    Sir Fly – Nemacolin?

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    • JakeGint

      That’s the place I linked above.

      The one w. the signs that warn normal drivers to beware of drunk drivers on the road.

      Note, not “don’t drink and drive,” but instead “you, sober person who are innocently driving here, BEWARE of the Drunk Pennsyltuckians that roam these roads. We cannot police them.”

      _________________

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      • drummerboy

        good old fashion booze cruisin. we used to do that in michigan,see how many mail boxes you can take down while holding a beer in one hand, a dobbie in the other while steering with your knee.on gravel roads.

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  29. Buckeye Bob

    Whats got futures all jacked?

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  30. steak42

    Ummmmm?………What?!?!

    I remember my first beer!!

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  31. steak42

    that was a reply to razor above, sorry

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  32. isaretard

    Here’s a thought regarding Irene…Photograph your shit (not from Irene but potential vandalism while you’re gone, throw out the shit in your frig that will stink up your house when the power goes off, get the fuck out until the power is back on.
    Having riden out Wilma right on Hollywood Beach, I must admit it was fun and thrilling however…
    Once the storm was gone, no gas, no power, very humid, stores are closed or don’t have nothin in em, curfews, no internet or phone service. Not fun after two or three days.

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    • kedzilla

      Cards and liquor my man

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      • isaretard

        Sounds like a hurricane party! Don’t forget to stock up on jock itch spray. Get extra for the boys. The ball sweat you’re smellin may not be your own!

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  33. DRAXWIN

    NEW YORK IS ABOUT TO GET HIT BY IKES TWIN SISTER IRENE, I HEAR SHE PACKS A STRAP ON DILDO WITH SPIKES. OUCH.

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  34. alf44

    .

    Look around again
    It’s the same old circle
    You see, it’s got to be
    It says right here on page 43
    That you should grab a hold of it
    Else you’ll find
    It’s passed you by…

    .

    Rainbows all around
    Can you find the silver and gold ?
    It’ll make you old
    The river can be hot or cold
    And you should dive right into ‘It
    Else you’ll find
    It’s passed you by…

    .

    Pass it ’round one more time
    I think I’ll have a swallow of wine
    Life is fine
    Even with the ups and downs
    And you should have a sip of it
    Else you’ll find
    It’s passed you by !!!

    ~ David Crosby ~

    .

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  35. Tendon

    I don’t care for this new layout.

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  36. Testicules

    J-Ho

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  37. JakeGint

    Wassup w. the new site not taking formatting? It makes for a bland piece of pie.

    In the meantime, it’s time to Get in the bank funnel, Skifflers!

    ____________

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  38. Raise Taxes, Cut Spending
    Raise Taxes, Cut Spending

    I have 2 daughters in their 20’s very interested in fashion, and they wouldn’t be seen dead in UGGs, and they spend a lot of money on boots. DECK is completely dependent on an expensive, ugly, old-fashion design that is knocked off a million times.

    How come you are so horny about that company?

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    • The Fly

      I like the numbers, not fashion. FPE of 13x with a pristine balance sheet. They operate flawlessly.

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      • TeahouseOnTheTracks
        TeahouseOnTheTracks

        A friend of mine ordered some Uggs from a web site and paid with a cc. Weeks later as the gift-giving date approached, no emails and no Uggs! No response to follow up emails and requests to cancel the order. After notifying the cc company and getting the transaction annulled the Uggs were delivered UPS via some individual from NYC via air freight from China. Then, no sooner than the cc payment was denied an email came requesting payment and when declined they never requested return of merchandise … seems as though DECK may have some inventory pilferage to contend with or a knock-off company operating across the ally … but I guess that’s part of doing biznuss in China.

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  39. Yabollox

    Uggs make a Christmas present when you can’t think of anything else. The real ones are a little better than the knock-offs.

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  40. drummerboy

    thanks fly -jeremy le marketcentre. looks le sweet. hey, and i even get the custom ads.lol they even remembered i needed a wet saw…….rockin

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  41. alphadawgg

    Fly,
    I like the new looking format here. The darker tones are appropriate for the times.

    Whatever happened to the “I have seen the future and it has (lower/higher) stock prices in it”? Time machine in the shop for repairs?

    Be well, as well can be.

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  42. rogue wave

    Today’s question:
    How many bullets does the Bernank have left?I think he has a few more, but not the 44. The Buffet buy was a good one.
    http://www.youtube.com/watch?v=JOxGL5G8Pbk

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  43. alf44

    .

    GOOD MORNING VIETNAM !!!

    .

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    • alf44

      … let the games begin !!!

      .

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      • Look at Me

        Responding to his own comments within a minute…a real sign of someone desperate for attention…

        Too much breastfeeding from Mommma, I would guess.

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