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
17,115 Blog Posts

Very Heavy

“Am I supposed to throw my money into a fireplace, just to entertain the likes of you?”

I am looking at the market closely this morning and see a lot of underlying weakness. This weakness can be canceled out and pissed on by the dip buyers quickly. However, for now, there is notable weakness in a number of key industries. Considering the global policy of money creation, gold and silver are most likely your safest bets; but the miners are subject to wild swings, so be sure to fix your stomach for volatility.

In my personal aggressive account, all I own is TZA and cash. In managed, I have a little CPST and VXX. I am tempted to buy TLT here; but it feels like a waste of my time. I much rather wait out the superfluities of all of you asshats and buy a serious dip. If you cannot understand what I am doing here, feel free to fuck yourselves and loiter in the yahoo message boards instead of here. Anyone who grows tired of my management style can fuck off. But you already knew that.

The risks to the system today are the same as in 2011. The Greek bailout is a complete and utter joke. And I am not saying this as a cynic, someone who is down big in dastardly short positions. Quite the contrary. I am a mere objective spectator, a watcher of equities and news. In my opinion, there isn’t any justification to be bullish up here. Some stocks are so overvalued, so grotesquely stretched, that I fear the snap back is going to be violent enough to shock many of you back into state run mental facilities.

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36 comments

  1. figesmalls

    first

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  2. figesmalls

    Seriously…can you give an explanation on PCLN and AAPL…or are they a part of the redikulousness of the markets?

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    • The Fly

      Believe it or not, they are not egregiously overvalued. Don’t let the share prices trick you into believing valuation is egregious.

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  3. Dr Funk

    Anyone taking DECK into earnings

    Supporting this market, p o m o, and other related programs, causing idiot headline writers to think there is some improving global outlook, b u b b l e

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  4. clegger_2000

    Are you enjoying your time at Universal? Heading down there in April.

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  5. Jakegint

    BAA BAA black sheep, have you any buttah biers?

    ______

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  6. Jakegint

    Skating on the Wall of “What, me worry?”

    __________

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  7. alf44

    Fly, are you sayin’ that wrt the Market…

    “There Is A Chink in The Armor” ?

    😀

    .

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    • Jakegint

      Obsess much?

      ______

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    • Mad_Scientist

      I see you still don’t understand how jokes work.

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      • alf44

        FU !

        I am the funniest man you will NEVER meet !!!

        I was actually voted “Class Jester” of my High School Senior Class !

        That is a “true fact” ! LOL

        (ooops ! another joke that will likely fly right over your head)

        The problem with satire and intelligent dry wit on the internet (or, in the real world for that matter) is that trolls like you … devoid of any sense of comedic awareness … are deaf, dumb and blind to the “humor” !!!

        SIGH !

        .

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  8. medicated today

    A Chink in the armoire?
    Was that a Seinfield episode?

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    • TraderCaddy

      No, those were the Soup Nazi recipes in the armoire.
      The Japanese tourists were in Kramer’s dresser drawers.

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  9. Berniecornfeld

    Thanks Fly

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  10. noodleboy

    Fly, what are a few stocks that you think are grotesquely over stretched?

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  11. bill

    Fly,

    I am working on an a buy pitch and equity research report for a CFA college competition. You are by far one of the most knowledgeable people I have come across in this area and was wondering if you might be interested in critiquing my work? If not, I completely understand. Hope the vacation is treating you and your family well!

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  12. The Plumbers Crack
    The Plumbers Crack

    “enough to shock many of you back into state run mental facilities.”

    fucking classic!

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  13. Patrick

    Whats up with the Euro? Keeps drifting sideways.

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  14. Catboots

    With you being so far ahead this year, why trade at all? Have a great time with your family! Forget about us for a day. We can swim in the shark pond on our own for the day. If we get eaten.. oh well…

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    • MetalLeg

      Why doesn’t Hugh Hefner stop at six girlfriends?

      That, Pussyfootwear, should answer your question.

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  15. Yabollox

    NBC/Universal is subsidiary of Comcast/GE. Would you rate either a buy? How about ABC-Disney? Or Viacom? I’m thinking billions of extra dollars will be spent on ads political at full price this summer and fall.

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  16. TheArtist

    Greece defaults March 23rd. I’ll bet a “DOW 15,000” baseball cap on it.
    ha
    carry on.

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  17. Rhino

    I’m getting seriously trigger happy here. There are no more bears to kill, yet… Slight pull back today, hoping for more.

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  18. MetalLeg

    Is Fly getting around the Orlando area in his time machine and does said time machine require gasoline?

    http://tampa.cbslocal.com/2012/02/22/florida-drivers-shelling-out-nearly-6-a-gallon-at-some-gas-stations/

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