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
23,433 Blog Posts

Wall Streeters Go On Perverted Buying Spree

I know you want me to hate on this rally. I am simply going to deny your request and chalk up a big L for Admiral Fly of the SS Fucktard. My diabolical plan to make 30% for the year was going “swimmingly” until today. I’m gonna have to remix this shit, in order to catch up. Looking back, I’d take the same position 9 out 10 times. To be cautious, even short, was the high probability trade. All of you sea monkeys who nailed this rally got lucky. There was no skill involved, other than staying permanently bullish.

This is the grandest October rally since 1974. Betting on such probabilities is no different than a degenerate OTB guy betting his rent money on a pony. So you know, I harbor no regrets, only anger.

My intraday moves helped a great deal. I was supposed to go with Mrs. Fly to Short Hills mall, to escort her as she spends thousands of dollars–buying a gift for me (anniversary). However, as the Gods would have it, my youngest child decided to throw up all over the place, effectively anchoring me down for the day. It’s a good thing because my early sales of VXX and TZA saved me a lot of money. And, my TLT sale was timely too.

My purchases were much higher about an hour ago. But, for the most part, they are all up about anywhere from 1-6% from cost.

Again, the most likely scenario is a sell off tomorrow. This is just absurd. And, when we get it, I will sell the rest of my FUCKTARDED and woefully homosexual VXX position. It’s the electrical socket that I rather enjoy sticking my butter knife in, every so often. It’s an annual thing for me, losing a great sum of money in VXX. Following last years loss, I made back all of my losses, AND MORE, inside of a few short weeks.

Let’s see how perverted these Wall Streeters are, after all. With Turkey Day right around the corner, I bet they circle jerk until the cows come home.

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49 comments

  1. Quint

    Now the fund managers begin to panic.

    No more, those that were ahead of the indexes, trying to run out the clock…they have to buy.

    If the QQQ breaks 60, look out for a stampede.

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  2. david

    Shock and Awe Rally. I dont hate on it , but im surprised at the ferosity of it given i had seen this as a correction … it brings back memories of MArch 09

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  3. Dirk Diggler

    Random high res map fromm 1689

    http://upload.wikimedia.org/wikipedia/commons/3/3b/World_Map_1689.JPG

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  4. panamaorange

    Euro .90 is actually achievable here. They are betting the ranch, then levering it FOUR times. How will they survive the drawdown if the market drops just 10% here?

    I know what that leads to. They’ll end up calling montel williams for a 200% apr payday loan. He’ll end up prime minister of belgium by June.

    Count on it

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  5. Pete

    I quit the market a months ago as. Couldnt be happier. Seeing this 350 point rally makes me laugh. Im sure someone nailed it. Someone always nailed it. When the market was about to puke 1000 points ago, Someone nailed it. They were both Short and Long and managed to make 200% in that day. Jake Gint has never made a mistake as far as I know. He’s always 100% on the ball. Just like his opinoins on politics, hes never wrong on the market.

    Congrats to those who will say they own this market. They made epic gains. For I expect to see those posts soon. Like in the next few posts.

    I can see the future.

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  6. franky

    I seem to follow you into the VXX murderhole every year, but this year I went with TVIX. NOW THAT is a murderhole for a sea monkey…

    great read – thanks

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  7. Pete

    http://www.youtube.com/watch?v=w_n2ZHbbtRg&feature=related

    Bacon Strips
    Bacon Strips
    Bacon Strips

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    • drummerboy

      doin bLt and turkey sammiches tonight. or breakfast for dinner. most likely da sammmichhes

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  8. ALLPROz

    94% of S&P above 50 day average…wow!

    VXX is the devil incarnate…

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  9. Bullish

    When this rally is all said and done, TZA will look like a penny stock.

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    • Bobby Boucher

      Nah, they’ll reverse split it just like they’re going to have to do soon with ZSL.

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  10. FIG

    Man, I am pissed off. I bought a 20% allocation in AGQ on Friday. After riding it from approximately $55 to over $57, I sold it at the open on Tuesday when I expected the market to sell-off and silver to follow. I thought I had a nice 2 day gain of 4%. The market did sell-off hard that day, but little did I know that AGQ would take off, closing over $70 today.

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    • drummerboy

      please, the last tree days,and then today. see that ah, i’m dyin ovah heah. as the senator would say

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  11. Bravo

    Just stopped by Zero Hedge. You know the anarchists over there are in trouble as they are dragging out Hugh Hendry videos from earlier in the year….ROFLMAO

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  12. noodle

    it takes plenty of skill to remain permanently bullish. u jelly.

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  13. JTU

    I was up just over 5% today, just amazing! What I am afraid of is already there are way too many financial advisors being paraded about on TV calling this the next phase of a Bull Market Rally! I prefer it when everyone is Bearish! Scary!

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  14. Dr Funk

    So who’s gonna pay for the debt, that’s supposed to pay for the debt, that no one could pay for?

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  15. alf44

    “Perverted Buying Spree”

    This pretty much describes today perfectly” !!! imo

    .

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    • alf44

      “Cutting Losses, But Not Chasing”

      Now … I must say (in hindsight)… that one leaves me scratchin’ me noggin !

      .

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      • alf44

        … but … A Man’s Gotta Do Whatta A Man’s Gotta Do !!!

        Oh … BTW … did I happen to mention that the ghost of Jesse Livermore served me a Ham Sandwich today !

        .

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  16. TeahouseOnTheTracks
    TeahouseOnTheTracks

    OEW Daily Recap/Predictions:

    “While we have been expecting another rally off of yesterday’s SPX 1221 low, one has to be impressed with today’s gap up and 3+% surge. We checked the pattern and found each of three previous zigzag rallies have been 96, 75 and 66 points respectively. This rally, which should be wave A of the last ABC zigzag, is currently 72 points. So it still fits within the range of the previous ones. With the SPX 1258 and 1284, 61.8% and 70.7% fibonacci retracement, levels being exceeded today, the next levels are at 1308 (78.6%) and 1337 (88.6%). Also, if the Int. wave C = 0.618 Int. wave A relationship at SPX 1284 does not hold. Then the next internal wave relationship is at Int. C = Int. A or SPX 1341. Quite a range of targets.

    For now we expect a 20+ point pullback soon, and then another high. Short term support is at the 1261 and 1240 pivots, with overhead resistance at the 1291 and 1303 pivots. Short term momentum is extremely overbought.”

    A correction and then one final bear market rally ….

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    • Yabollox

      Rationalize you were correct, even if you missed it.

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      • TeahouseOnTheTracks
        TeahouseOnTheTracks

        Missed what … I’ve been long (too long) and OEW has told readers to stay long for this entire bear rally … even called the turn at 1075 … You sir, have a reading for comprehension problem as Senator Gint likes to say.

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  17. theedge111

    Here we go…ALL FIXED!!

    http://blogs.reuters.com/from-reuterscom/2011/10/27/the-euro-zone-deal-diagram/

    Pretty scary to see that the fate of the western world rests on a piece of scrap paper.

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  18. Sooth Sayer

    This whole “fiat currency” thing is nonsense… I’ll be concerned when we run out of actual resources… the casino that is the stock market may go up 20000% or down 100%, but we are far far away from economic collapse.

    Mexicans are shooting craps in my back alley while an albatross scoops up a massive amount of fish, just like last Thursday. I’m a last-Thursdayian.

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  19. Blind Read Ant

    For single IBC visitors, holidays are the best days of the year to go to your local watering hole and one night standing women recently separated, divorced, breaking up or thinking of any of the above.

    You know, like the word fiance, finance pays the playa as the poor holidays strains the sucka. Get you some emotionally unstable babes now, I say, RIGHT NA!

    Oh yeah, by some OTM VIX puts too with Jan/Feb. expy..

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