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
23,446 Blog Posts

I’m In

I want you to say dumb shit like “I’ll take the other side of that trade” because that’s what makes it interesting. I will not take offense if you bet against me. Your active participation against my interests do not mark the sands of time. As a matter of fact, your money is so small– no one would notice your attempt to rape the markets, Mr. Small Dick, Big Mouth Fuckface.

I sold out of VXX, taking a 17% loss to the bank.

In addition, I bought YELP, RS, TDC, AKS and EXK.

My cash position is down to 25%.

Whether this attempt at winship will work is to be determined. However, if there is one thing I have learned in my career of ups and downs it is to trust my gut, especially when shit is going against me. Either way, my destiny has already been plotted out for me. I am going to trade the fuck higher, no matter what. It’s not a question of “if” but “when.” With regards to today’s action, I believe that time is now.

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43 comments

  1. Woodshedder

    Two pennies in a bucket. Fuck it.

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  2. mindthegap99

    two pennies ? sorry, wondering what that expression means ?
    thanks

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    • The Fly

      shut your face

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    • JakeGint

      In for a penny, in for a pound.

      ‘in.

      _______

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    • Woodshedder

      It means “fuck it.” In the South, if one is expressing some frustration or has made up one’s mind to do something regardless of the consequences, he or she might say, “two pennies in a bucket.” To which an audience of one or more would retort, “fuck it.”

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      • moolahheaven

        You look familiar wood, did I see you in pulp fiction with ‘the gimp’?

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  3. J-coli

    Ha… Fuck you to! Good luck with the POS Yelp… one POS deserves another…

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  4. Rhino

    Good to have you back fine sir. Yelp, imo, is a seriously fucked up sink-hole, but I’m assuming you’re gonna try to ride the momentum?

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  5. charlie

    Welcome to the goody-room

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  6. RaginCajun

    THE FLY IS BACK, $YELP! Can we get back to throwing monster cans, was too much fun in ’06

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  7. Whatever!!!

    So FLY sells out of VXX just as contango is about to shrink?

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    • The Fly

      I can furnish heinous VXX losses to you, over a 3 YEAR PERIOD, proving I have no business buying it.

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      • Whatever!!!

        This Thursday contango drops from about 6% to under 3% as the March options expire.

        That 6% contango is what has been killing VXX this last month.

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        • crazymoppo

          that contango issue, – and also the markets steaming higher in a non-volatile fashion, surely contribute to VIX sufferings?

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  8. 4fl3x

    Good luck Master Fly.

    I’ll give this till the end of the month, then I may join you.

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  9. JakeGint

    I can’t help but think that “yelp!” is the sound a dog makes when swatted smartly upon it’s nose for the overly close inspection of its own excrement.

    __________

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    • The Fly

      Visit the site and use it on your phone. You will see why it is a disruptive force in social media.

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      • Carlo Zamboni

        with facebook coming down the pike, all it needs is “social media” somewhere in the business description and it’s off to the races until further notice.

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      • Rhino

        Their “Review Filter” is just so fucked up though. I know lots of business owners who are pissed that good reviews get filtered out.

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        • pistilstamen

          Yep…and what’s even better is that it (the ‘Review Filter’) magically disappears once you start buying ad space from them. I used to use Yelp all the time…now, fuck Yelp sideways.

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  10. Eithan

    well at least you didn’t try to short the whole market (think Becca Hank Moody’s daughter saying it so it will sound better)

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  11. Warren at the Buffet
    Warren at the Buffet

    The Fly is now in the steel game, and there’s nothing you or your stupid friends can do about it!

    Indeud.

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  12. bearearns

    I find myself on the other siide from 1403.5 and 1407.5. Wish you the best and wish myself even better.

    As always enjoy the commentary, laughter, and insights. cheers to this “market”

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  13. JTU

    Pretty Ballsy move after being short for so long.

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    • The Fly

      I was not short.

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      • The Fly

        I was 75% cash for a month.

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      • JTU

        OK I realize that VXX is not a play on shorting the market. I guess what I really mean is that after missing so much upside already and taking a 17% loss on VXX, chasing the market at this point seems Ballsy. Hey, but look at Yelp! A few more like that and you’ll have that 17% back in no time.

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  14. THEosu

    death cab cutie………I Will Follow You

    please check out TMV

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  15. Bozo on a bus

    I would never bet against The Fly. My son puts in hours on YELP. Pretty unusual for him to be that engaged.

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  16. Patrick

    Yes we can… go to 1500.

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  17. Blu

    Why EXK and not NGD?

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  18. Queequeg

    TDC has a date with sub 45 at some point.
    EKX has a date with sub 8 at some point.
    AKS has a date with sub 6 at some point.

    Keep a tight leash. I know, fuck me. Let’s see how those Greek bonds do on Friday. I see next week being a shitstorm. Keep the trigger finger on the VXX re-load. It has a date with 50 at some point. IMHO.

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