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
23,474 Blog Posts

Broken Records Are Better

When I blew myself up in 2000-2001, I had a bullish disposition that could not be shaken. I was programmed to believe there was only one way for the market: up. I was coming off of ridiculous years, earning high six figures and just 24 years old. We had our own tailors, jewelers, secretaries, underlings and people feeding us illegal leads for $10k at a pop.(those in the business know what I am talking about). Everything was great until the music stopped and EVERYTHING was taken away from me. By early 2003, I was a new man, forged through the fires of 2000-2002. I came out the other end okay, but my clients suffered losses. It wasn’t a good feeling, especially for someone who prides himself on research.

See, things come into focus when you are managing other peoples money. It’s not okay to be wrong and pretend everything will work out. I learned that lesson and promised myself to never relearn it again (redundancy at its finest). This fucking business is not a game, nor is the content that is provided here on iBankCoin. Top notch and shelf.

Anyway, today’s rally was easy to detect, due to the lack of conviction by the sellers early going. I’m eking out small gains here, but that’s okay. I have the patience of an elephant and the rage of a medieval executioner. I’m gonna make this life count. You can bet your bottom dollar that “The Fly” is destined for extreme greatness. If I have to stomp you out to fan my flames, so be it.

http://www.youtube.com/watch?v=5Vu-_LdL6uE&feature=player_embedded

If you enjoy the content at iBankCoin, please follow us on Twitter

37 comments

  1. spoiledsquid

    You must really like this Drake vid/song.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. DipChit

    Ummm OK …Rally fades into the bell and rest of the week….just saying

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. Dr Funk

    And the winner is… no one

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. Occupy Obama

    Her poor Mama lost her job. The tea party doesn’t have any good protesters, at least not like this young lady.
    SKANK ALERT.

    http://youtu.be/DSRMA_GK8eE

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. Green Machine

    I am stuck in this shit hole of a year. Being heavy financials is like having a flaming turd in my Underoos (not the Superman ones, but the Yoda ones, because Yoda would just use the force on Superman in a second: “This isn’t the burnt turn you’re looking for….move along now”). Only my divies provide me with the liquidity to further my attempts at picking the market’s next top model.

    I was 12% YTD in March. Now I’m 10 in the red. Six weeks to put me in the green just isn’t going to happen. I’ve rotated sectors, I’ve switched to relative performers, short of voodoo ceremony, I’ve done plenty to regain my focus. My 26% for 2010 is providing me with the means to stay relatively in the green long term, so I must stick to the faith that I can prevail in the even longer long term.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. panamaorange

    Oil is like a bomb here. The only bullish way out would be a SLOW orderly decline in price

    If it drops too fast, it kills XLE energy and XLB materials .

    If it rises too fast, XRT retail and XLY discretionary are toast.

    SPY Bulls do have a chance. But, its a VERY narrow door.

    And, with all this supercommitee drama, that door leads straight to barney frank’s gimp dungeon.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. ALLPROz

    Drake videos good for spoofing…some good ones out there.

    Bears giving their all at the final bell…hard call tomorrow.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. yoursisterspanties
    yoursisterspanties

    Drake is the Justin Bieber of Hip Hop

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. Jeremy

    You can bet your bottom dollar that “The Fly” is destined for extreme greatness. If I have to stomp you out to fan my flames, so be it.

    LOL – Classic Fly.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. Taco

    Antidote to Drake…

    http://www.youtube.com/watch?v=UFwf7gRiLYM

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. ALLPROz

    and the antidote to that…

    http://www.youtube.com/watch?v=JKDtUzRIG6I

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. Vegas Trader II

    The government CAN’T run or fix ANYTHING!!!!! NEW YORK (CNNMoney) — The U.S. Postal Service released its annual financial results on Tuesday, and they’re nothing to write home about.

    The agency reported an annual loss of $5.1 billion, as declining mail volumes and mounting benefit costs take their toll. The Postal Service said its losses would have been roughly $10.6 billion if not for the passage of legislation postponing a $5.5 billion payment required to fund retiree health benefits.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Fly

      What are you talking about? We need to tax the rich more so we can make more post offices.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • Yabollox

      They should deliver mail every other day. Alternate routes, or sides of the street or whatever.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  13. HTtrader

    So fucking pissed….

    Was gonna buy vit in the high 7 then a damn client called.

    Today was horrible

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. inandout

    In the early 1990’s I can recall seeing leads coming in on x-ray type films and there was a little machine used to read them.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Fly

      Phish

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • inandout

        lol, the old way. Pretty sure someone was calling them one by one trying to get them to invest in something or other.
        That place got shut down around 1991 or so not sure for what exactly but I heard something like they were selling the same shares a few times over. Luckily I was only 10 or 11 at the time and was not involved, I was a nosy little kid though.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  15. Damon

    Hey, Fly, thanks for the 60 minutes video, I missed it Sunday. Totally disgusting, btw.

    I’m thinking that when (and if) the Supreme Court strikes down Obamacare this market is gonna rip to the upside.

    Every sense in my body says they will strike it down.

    The last time the court set aside so much time for oral arguments was like 45 years ago!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. TraderCaddy

    I learned something new today.
    My wife teaches at, shall we say, a lower socio-economic school (4th grade and two of them have probation officers).
    So when these two kids were talking to a third they said be careful or you will end up in JFK.
    My wife thought they were talking about John F. Kennedy but it actually stands for Jail For Kids.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Damon

      Caddy,

      That’s a fine indictment of the Public School System.

      Did you ask her if they teach the class in Spanish 1/2 the day?

      That’s what they did to my niece, and I’ll be damn if she can’t speak Spanish.

      I still say that is bogus. If you are going to teach a second language, it sure as hell should be Chinese!

      • 0
      • 0
      • 0 Deem this to be "Fake News"