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
22,571 Blog Posts

“The Fly” is Back

Back to driving rail spikes through the skulls of the deserving.

You said YELP was going to $00.00, yet here it is whoring its way back to glory–fucking everyone in its path. I held because selling was not an option. Selling was not an option because if I sold and this shit happened, I’d never be able to forgive myself. I couldn’t forgive myself because I’m my harshest critic.

Despite being in the top 1% of income earners in America, I don’t feel a sense of accomplishment. It’s not cliche when I say “I fucking grind”–because I really do.

Here we are, yet again, with the market going the fuck higher, when it’s supposed to be down.

THE SOCIAL MEDIA REVOLUTION IS UPON YOU.

You bet against Facecrook because you thought it was humorous. Those motherfuckers have 900 million customers. They can monetize from now until they end of time, without ever adding another user. Jokes aside, betting against FB is fucking stupid at these levels. Now betting against YELP, one of the premier web properties in the world, is not only stupid, but suicide. I promise you, YELP will make me rich-er one day. You will look back on these lonely, dark days, when the social media experiment was in its nascency, and lament over not buying when they told you to sell.

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43 comments

  1. DeepPocketsAj

    Fly,
    Any intel on ATPG, other than what has been released?

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  2. clegger_2000

    Interesting that YELP was one of those stocks that dropped and leveled at the 52 week HI /2 range.

    Just an observation.

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  3. Frog

    I see BZH has a Sell rating on it from Citi. I guess they must be buying it. So far they only got it to go down 2 cents.

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  4. Frog

    Now one and one half cents.

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  5. Tommy Boy

    with a cost basis of around 22, you could go green today!

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  6. Berniecornfeld

    I have seen you do this so many times, why am I still suprised?

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  7. Elvis

    “not buying when they told you to sell.”
    EXACTLY!!

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  8. Dave

    FB 900 million “users” of which 40% are known spam or advertisement accounts set up strictly to advertise, and 50% of the remaining 60% actually login to their account 1% of the time. I fully expect FB to slowly begin losing subscribers YOY. They better make some kickass buyouts while the gettin’s good, or they’re going to enjoy a slow death spiral down to shitville

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    • The Fly

      sigh.

      Then short it. I don’t want to debate.

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      • Dave

        LOL sorry, that was not intended to challenge anything, just me expressing out loud my dislike for FB. I do love me some YELP though

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    • OG

      These seem to get shut down pretty quick. A friend of mine who was adding friends like it was MySpace also got warned and he longer uses it.

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  9. JCraddock

    Kudos Fly, I have $YELP on my watchlist, nice call.

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    • The Fly

      Fuck your watchlist!!!

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      • ed

        Went to get a bagel, come back to my computer and it’s up a hundred million percent. Fuck the why and how, I CAN AFFORD LAVISH SHIT AGAIN

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  10. jobo

    Fuck yeah Fly! I held YELP with you. After letting FTK go before the top popped hurt. This time around I stuck with you and (at times) it made me sick doing it. However, in the end… FIG. Cost basis at 20.30. Im hoping to rip tits with this one. Thanks for holding the faith and providing me with lots of entertainment! I appreciate everything you guys all contribute.

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  11. Sooz

    😉

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  12. Fidel Cash Grow
    Fidel Cash Grow

    As a fellow $YELP shareholder I rejoice with you.

    But the question is, how is your vegetable garden progressing at your new home? Are your carrots of the most superior quality?

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  13. Fidel Cash Grow
    Fidel Cash Grow

    Then i look forwar to next summer’s updates.

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  14. Freebie

    Its pretty funny that this FXI options trader is probably going to be investigated for insider knowledge of the Chinese rate cut. Like nobody could have known it was coming. But, the Fly knew.

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  15. The Eye-Talian Stallion
    The Eye-Talian Stallion

    Obama is about to unleash trillions of cash money to appease the white middle-class that he threw under the bus during his tenure. Can you say “student loan interest rate at 0%? Or 2% mortgage rate?

    The market will rip.

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  16. Full Retard

    Even though my EXK gains offset my YELP losses, I held on and even averaged down to $19.66. I knew it would turn around.

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  17. Yelp = Yell for Help
    Yelp = Yell for Help

    Nothing goes down to $0.00 in a straight line.

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  18. Yelp = Yell for Help
    Yelp = Yell for Help

    Another painful leg down to new SPX lows is coming next week. China names will likely get killed next week. China rate cut is because some crap data is likely gonna hit the wires over the weekend.

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  19. LD

    Pandora also rising.

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  20. hitter

    One might suspect that “THEY” must know that Fly and followers are long TEX, MTW, and CLF. All rest of board is green. Vedy Interesting,no?

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  21. en1gma

    I respectfully maintain that the bloom is off the rose on “Social Media”.

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  22. Greg

    It’s at support , it’s suppose to bounce. On weekly charts it’s up trend , Jesus you are crazy . My opinion was that your entries just sucked ass.

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  23. yeah..

    what is your best armin van burren song?

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  24. fifty2weekhi

    Dr. Fly, congrats on the pop on YELP!! About time!!! Any target, or just ride it until it stops?

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  25. LABruinCub

    Fly, I have read your blog since the days of Broker A, but I have commented about a total of 3 times.

    I read because of the ridiculous hyperboles, inherent sarcasm (that many people miss), tongue-in-cheek humor, and constant chest-thumping/self-flagellation that epitomizes the experience of the market.

    There are many blogs out there, including your enemy TK, but their authors are insincere. You will NEVER read about those bloggers’ losses or drawdowns, only stupid congratulatory smugness on their winning trades (e.g. market goes down, “I was 100% short,” even if the blogger posted long positions an hour before).

    In short, I come back here because I learn a thing or two from you, instead of reading other blogs and worshipping their “bullshit wins.”

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  26. Greg

    Hope hope hope hope bam it goes up aNd I’m God lol

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    • Kev

      Someone ban this guy he’s annoying me and without top hat.

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