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
23,430 Blog Posts

A Reversal of Fortune

The cromagnons over at Zerohedge, collectively, are suffering from erectile dysfunction this morning, as the miniature guillotines aka “dick-choppers” roll into Wall Street to exact revenge against those who bet against the world order.

The trap was laid late last week by luring people into dynamite rigged FAZmobiles– with the hopes that yields in Europe meant the end. Ask yourself, did the European Union throw the kitchen sink at the problem? Did you really think they would elect for Woodshedder’s form of justice through ridiculously unnecessary pain and suffering via unorganized defaults? It’s fucking laughable.

Europe is rising and the bulls are firmly in control, for the time being.

This is where the weak hands, those unable to sustain volatility, get off the roller coaster and go make some pancakes for themselves. I am talking directly to many of you. The market is not for everyone. This shit practically kills me 4-5 times per year, every year, no matter how good/seasoned I am. If you are unable to deal with losses, sell today and enjoy the holidays with a little more money in your cheap ass jeans.

“The Fly” will not sell today because it is his destiny to win big and his denim is premium.

Let’s chat in a few hours and see if the bulls can hold onto this nuclear football or detonate themselves.

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

44 comments

  1. FIG

    The Fly wins yet again! Oh wait, he’s still down.

    Anyway, the fly has a time machine and knows that he will win.

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

    too easy

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. genghis khan

    Fly- where do your YTD gains stand today? Still recommend silver and refiners? How about MOS, POT, AGU?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. drummerboy

    i hope Alf doesnt get accused of abuse towards poor verne troyer today.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • alf44

      … I covered MOST of my SHORT last week (Wed. & Fri.) … and “nibbled” some TNA on Friday !

      Holding a small TYP position as a “hedge” !

      All posted … rat heah on dis heah blog !

      Verne Troyer has been very very good to me !

      I can assure you that I would never harm so much as a hair on his lil head !

      .

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  5. Mr. President

    C’mon with the Yelawolf…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. Mr. President

    Fly, I’m going to make your morning… Check out “The Rap Board” –

    http://therapboard.com/

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

    No pancakes here, but did go striper fishing instead this morning.

    Killed them last weekend, but nada this weekend – the bite has turned quicker than a Cramer “sell” call.

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

      Quint I first read stripper fish, and then ask which brass pole do you use !

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

        lol…little early for that…if she’s on the pole at 6am, throw it back.

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

    Fly,

    arent you concerned that yields in EZ are still getting wider as market rallies.

    as much as I like the equity markets, credit usually tells us what is really happenning.

    no arguement here that we were due for a pop, but is this the fade?

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

    lol…bring on the pain and suffering! No guns, no guts!

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

      Indeed, the bulls need a chance to unload however. Even apocalypse can’t move in a straight line apparently.

      The pain isn’t unnecessary, it is a function of 30 years of overspending. The sooner people stop lying about it sooner we can fix it,

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

    $FAZ mobile covered in black smoke…. and it stinks like burning fur and skin..
    PS. Now go buy some stocks… they are still cheap

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

    Call me an idiot, but I bought TNA on the back of the PPT last Thursday when it hit bottom.

    Thinking too hard about this market is simply for the birds.

    Buy and sell when the PPT tells ya and a little finesse.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. Jakegint

    Dollah down fitty cent already this morning.

    ________

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

    Suggestion on the colorful description of our friends from Zero —

    “Cro Magnons” actually evolved into the current strain of homo sapiens seen wearing burlap onion bags to work this morning.

    It’s the Neanderthals that went extinct.

    __________

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. Yogi & Boo Boo

    Well said Fly.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. alf44

    Jim Cramer is a space alien !

    What a lil troll he is !

    .

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

    GSV Capital Corp.

    Increases Holdings in Facebook and Twitter and Invests in Other “Stars of
    Tomorrow”

    WOODSIDE, Calif., Nov. 28, 2011 (GLOBE NEWSWIRE) — GSV Capital Corp.,
    “GSV”, (Nasdaq:GSVC) today announced additions to the investments it has
    completed since September 30th. GSV has recently increased its holdings in
    Facebook, Inc., adding 125,000 shares for a total of 350,000 shares or 14.3%
    of the Net Asset Value of the fund. The Company also increased its holdings
    in Twitter, Inc., adding 330,000 shares for a total of 735,600 shares or
    16.6% of the Net Asset Value of the fund. GSV has also acquired shares in a
    group of venture capital backed private companies, including ZocDoc, Inc.,
    Grockit, Inc., The Echo System Corp. and Control 4, Inc. Since going public
    in April 2011, GSV has invested $62 million in a total of 18 VC backed
    private companies.

    “We are particularly excited about the recent round of new investments
    because they represent both high-profile and sought-after social media
    companies as well as what we believe are the up and coming venture-backed
    companies that are innovating in their respective industries. The rate and
    pace of GSV’s investments reflect the power of our network to source deals at
    attractive terms,” said Michael T. Moe, GSV Capital’s CEO and CIO. “The GSV
    portfolio has honed in on megatrends that are transforming how people
    communicate and connect all over the world and the fund offers investors the
    unique ability to tap into the value-creation of these private companies in a
    publicly traded, liquid security.”

    Investment Details:

    Since the end of the quarter ended September 30, 2011, GSV made new
    investments in a number of companies, including:

    — ZocDoc, Inc., a free online service for patients to find and schedule
    doctor and dentist appointments. ZocDoc’s investors include Khosla
    Ventures, Bezos Expeditions, DST Global, Founders Fund, Goldman Sachs,
    and Marc Benioff, Chairman and CEO of Salesforce.com.

    — Grockit, Inc., a leading social learning game provider. Grockit’s
    investors include Benchmark Capital, Atlas Venture and Integral Capital
    Partners.

    — The Echo Systems Corp., a social analytics and engagement platform that
    enables brands to extract insights from website visitors, reward their
    most influential customers and drive more revenue per user.

    — Control 4, Inc., a leading provider of the operating system for the
    smart home. Control4 investors include Foundation Capital and Cisco.

    The investments completed since September 30th represent approximately $21
    million in investments and 30% of GSV Capital’s Net Asset Value.

    About GSV Capital Corp.

    GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment fund that
    seeks to invest in high-growth, venture-backed private companies. Led by
    industry veteran Michael Moe, the fund’s strategy is to provide investors
    with access to the type of pre-IPO investments that have historically only
    been available to angel investors and venture capitalists. GSVC’s current
    portfolio provides access to leading, high-growth private companies such as
    Twitter, Facebook, Chegg, GILT Groupe and Zynga. GSV Capital is headquartered
    in Woodside, CA.

    The GSV Capital Corp. logo is available at
    http://www.globenewswire.com/newsroom/prs/?pkgid=9556

    Forwarding-Looking Statements

    Statements included herein may constitute “forward-looking statements,”
    which relate to future events or our future performance or financial
    condition. These statements are not guarantees of future performance,
    condition or results and involve a number of risks and uncertainties. Actual
    results may differ materially from those in the forward-looking statements as
    a result of a number of factors, including those described from time to time
    in our filings with the Securities and Exchange Commission. GSV Capital Corp.
    undertakes no duty to update any forward-looking statements made herein.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. kidstock

    Break out the oatmeal…let’s get this rally going in true Fly fashion.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. ?

    Ah, now we will get the “Stocks are Still Cheap” chorus.

    Perhaps.

    This puppy is still a land mind. If you think it can be predicted on a short term basis……..well, place your “bets”.

    My watch list of BAX, (bought some Friday), ORCL, PAYX, INFY,NVS,XOM, SYY, MMM, K, LH, and PEP (in that order of “cheapness”, a term I hate) just got a tad less cheap.

    Still sitting on the fence at 50% equity and 50% other stuff.

    Would love to see a quick reversal lower but in the end will hit what’s pitched.

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

    Market gapped up this morning so going to wait till she takes a mid-day or end-day dump. The dump to close the gap may take a couple of days, if not today. Sitting this one out. Volume is too thick… a blow-out trap. Not chasing here. Manipulators want me to chase but it’s not happening…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. RippinTits

    Mr.Fly, where do you see USG going from here?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. My Face Hurts

    WNR? Still waaaay down from highs.

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