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

On the Fifth Day of Losses

In an era of cheap money and immorality, I expect better than 5 consecutive days lower. If they want me to keep spending at a $2k per day clip, I need to see greener stock prices. As it stands now, I am not making any money. In fact, believe it or not, I am losing some.

DDD got lit up again. I waited patiently to buy into it, thinking the slightest pullback would offer a great buying opportunity. Apparently, the industry has gone to shit over the past week and now I’m stuck with outrageous losses.

My other big loss is coming out of JIVE, now down 7% from basis. The hits keep coming and the market is just getting revved up.

Everyone is telling you to “not worry” and how things will hold here and move higher next week. I dare to tell you the exact opposite.

RUN for fucking cover. On Jupiter’s Stone, we’re cooked. I say this, totally selfless, fully invested in stocks with just 10% in cash. I am determined to punish myself with egregious losses, as a lesson to adhere to the warning signs. I saw them and didn’t listen: now I will pay the price with blood.

PPC is moving up. Therefore, I am still “The Chicken Man.” My losses stand at 1.2% for the day, somewhat hedged by two of my top 3 positions being up: KMB and ESRX.

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63 comments

  1. clegger_2000

    CALM loves showing up on the 52 wk HI list.

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  2. chessNwine

    Hector Salamanca would like a word with The Chicken Man…

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  3. moolahheaven

    Juice, you just showed your ‘true colors’ by what you said: (See last Fly post ‘reversal’)

    “I’m all for that white greedy fucker”
    Tell us WTF does his (Romney’s) color have to do with it? Is it somehow a crime to be white? Imagine if you had said that about Obama in reverse, I dare say you would qualify for banning. Don’t spout racist shit here – whether it’s anti-white, anti-black or whatever. You sir lack a top hat, it’s no wonder you are a lefty.

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    • tm

      Anti-Muslim is ok though.

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    • Juice

      no crime to be white, honky

      I already told you, I just love Romney .. can’t wait for him to nuke the towel-heads .. all this talk-bullshit that Obama engages in is just sooo new-age nonsense … just nuke’m already !

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  4. The Fly

    White greedy fuckers are better than black stupid fuckers in my book (no racism).

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  5. Donkey Arbitrageur
    Donkey Arbitrageur

    VIX @ 16.8… top of recent range.

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  6. MFalke

    That bull/bear poll you conducted recently seems to have been a pretty good contrarian indicator.

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  7. Jakegint

    Still time for a ride in the UNIMOG.

    It’s “Ride” or “be ridden,” dear boy!

    _______

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  8. KC Scott

    I think DDD finds support around $30

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  9. tradedrunk

    these last hour selloffs are fucking egregious

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  10. Timothy

    What about the PPT ?? Didnt it hit OS levels yet?? or is that completely worthless now, i havent heard you mention anything about it ..what happened to 2.2 or watever it was? not happening any more?

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  11. OG

    Was an OK day, until ANR gave back almost all of it’s gains…

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  12. It Is Showtime

    Yo, Prosser. Nice to add some reality back in. Maybe speak up ‘before’ a qe announcement?

    End of quarter/end of month, should at least hold now right…?

    Anyone holding OCZ? My buy order got knifed through. Reversal?

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  13. noodle

    The old man is wheeling around on a golden wheel chair today

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  14. raul3

    Have you ever decided to not eat for a whole day, after being a fatted up fucker every other day? Your glucose levels fall through the floor and you’re one wrong look away from a nasty mood swing. And with all the devices these days, OY! People were selling stocks from the pews.

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    • Metalleg

      I find no benefit to fasting on Yom Kippur. Why feel sick as you describe when you don’t have to?

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  15. KC Scott

    Several people made the call last week that this week would see around a 5% regression and then the expectation we’d see the rise starting around Thurs

    i’ve seen nothing yet that dissuade me from that forecast

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  16. perrch01

    The market is anti-fly at the moment. Case in point? Netflix is up.

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  17. Mike

    Fly sets up a win-or-win (not win-win). He tells us all to get out so we win if the market goes lower and he says he is staying in so he wins if the market goes higher.

    Don’t be fooled by the win-or-win.

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    • The Fly

      You are a diabolical fucked face one.

      I speak the truth and do not varnish it with the lies you are accustomed to.

      You know my position. There is no hidden agenda.

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    • Metalleg

      Isn’t what you described a lose or lose just the same? You sir are a moron.

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    • moolahheaven

      That is the MOST unfair criticism you could make of the Fly. The one thing I love is that he ALWAYS goes out on a limb and says EXACTLY what he thinks; he is stock specific and perfectly clear unlike most guys out there. You could not make a more unjustified criticism.

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  18. Jakegint

    UNIMOGgin it!

    (Better than tobaggan’it!)

    _________

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  19. L.K.W.

    I am not sorry for deactivating my Twitter acct, and I am sorry if that communication caused any problems.

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    • L.K.W.

      Anyway, I just realized I need not have made that statement, that act should not cause problems, and, in the end, the disclaimer cma.

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  20. Trading_Nymph

    Will the ECB Claim eat me and the US Dollar tonight over Spain??? Eur/usd below 1.2730 by the end of the month is what I want ( which is Friday)…Which is 9/28 and is Paul Tudor Jones and my Birthday!!!!..so cool to share Birthdays with a legend.

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  21. PoorHomey

    Since you’ve got a large position in my employer’s stock, I guess that means I work for you…

    At least I do for another 60 days or so until the next wave of layoffs happens.

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  22. theedge111

    Still short SPY PUTS that I bought the day of the FED announcement following the initial bounce.

    My ass is still a bit sore but it’s starting to feel better the bloodier it gets.

    Hoping to see a few bankers hanging from lamp posts in Spain and Greece tomorrow so that I can take some profits!

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  23. Frog

    article on genetically modified foods. The French & the Russians are concerned about health risks. And Californians. Other Americans not so much.

    Monsanto accepts the labeling of the foods in Euope. But in the U. S. they know they can buy anything they want politically. So they are spending millions to keep the foods from being labelled in the U.S. http://www.digitaljournal.com/article/333607

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  24. Sloop

    I made a ton with TC today. Anyone see that baby sitting on the 50DMA. bought at 2.88 sold at 3.01 That was an easy 7K in profit. KILLING IT!! all cash again tonight

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  25. Sloop

    Check out ANR volume was high today. It could be in for a bounce. But coal stocks bother me with Obama looking to murder them

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  26. Sloop

    Why would anyone vote for this fundamentally anti Constitution guy? WHY? The guy is cancer to America

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  27. walktothecabin

    Fly,

    You appear to like strong stocks beaten down and basing for a move higher. $DDD never fit that profile or PPT criteria. Follow your rules and bank coin!

    The Dude

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  28. Frog

    Video about Monsanto Frankencorn causing tumors & organ damage in rats. And Monsanto spending 19 million dollars just in California to keep it from being labeled.

    http://blogs.suntimes.com/ebert/russia-france-afraid-of-monsan.html

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  29. Testicules

    May as well open a
    new Super Food Market….call it “Ho-Foods”, specialize in GM’s (no detroit)

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  30. JTU

    “ON THE FIFTH DAY OF LOSSES”
    Hopefully were not singing that tune going into Christmas.

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    • Testicules

      thanks, now I’ll be stuck thinking up 11 more days of Christmas blues

      Perhaps Lord Fly could slap together some festive cartoonage

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      • L.K.W.

        My math says seven, but I’ve got moron math, or whatever my ex used to call it. On top of that, I’m not even sure there were 12 days of xmas in the partridge pear tree song..

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