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
23,433 Blog Posts

Depressing Compression

If it wasn’t for my coal position climbing higher, I’d be sitting here getting my clock cleaned like the rest of you.

Since QE3 was announced, the market has been in a slump. You can paint the pig red, but it’s still a pig. Everything is going lower, led by AAPL. Even though the market is barely off its highs, the stock action is reprehensible.

I’m at a cross roads on many of my positions. My recent draw down has been swift, yet furious. If I sell, the likelihood of me getting back in before Halloween is slim.

It might end up being a VXX Halloween after all.

NOTE: On the five year anniversary of iBankCoin (11/12/12), a contest will begin for 12631 members only. The prize will be $2,000 and it will last until New Year’s eve. It’s a stock contest gentlemen. Prepare for games.

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

56 comments

  1. bobbin4apples

    What do you think about shorting AAPL here?

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

    Fly what are you going to do with SVU?

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

      fuck you

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

        LOL
        I must confess though, despite your warnings to the many plebs on that one, I was about to ask about that too, but your dick chopping response says it all (can I get a fuck you too?)

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

        Was a serious question Fly are u gonna hold or sell?

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  3. TheOSU

    fly starting to have a skid mark attack…….too funny

    hopefully a few more weeks of this and we can eliminate these small traders

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

    I am at crossed roads with my positions as well. At least I sold PPC.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. vking

    Fly please notice any additional “traffic” today…V.Kingdom is up and ready for action!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. The Eye-Talian Stallion
    The Eye-Talian Stallion

    Looks like the old man was right, telling his clients to get out of the market and into bonds.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. flyaway18

    For crying out loud, you are the Space Alien Magician, get in the rocketship and plan your attack.

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

    another algo snafu this a.m……….. check out LVS MPEL WFR charts to name just a few……insane

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

    VXX prepared herself for Halloween by reverse splitting. She will rise to 100 before elections. Climb aboard her broom, folks. The republicans aren’t giving up the election that easy.

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

    Why oil goes up?

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

      Me think you grammar study no good. Too me think Obama’s Muslim buddies have all oil and are Nukin Futz, mideast much mess is there.

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

      In all seriousness, you might ask the Syrians, Turks, Iranians, Egyptians and Hizbullah, Hamas and AlQaeda (in other words Obama’s favorite people). Oil is ALWAYS potentially explosively on the brink of a pop higher regardless of supply-demand; that’s why I never short it…

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • L.K.W.

      lol.

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

    As Tax Evader Romney rises in the polls, the stock market correctly drops.

    Pull for Joe Biden to bail you losers out Thursday.

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

      Biden?Sounds like desperation. I’d also be careful about accusing a man of criminal tax evasion, that’s libelous and certainly unproven. Now go get out the vote for everyone’s favorite Kenyan-American? the Imam-in-chief.

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

        Ode to Joe Biden

        Joe Rob Biden (may his tribe increase!)
        Awoke one night from a deep dream of peace,
        And saw, within the moonlight in his room,
        Making it rich, and like a lily in bloom,
        His teeth whiting in a jar of bleach.

        Exceeding peace had made Joe Rob bold,
        And to the Presence in the room he said,
        “What whitest thou?” The teeth raised up high,
        And with a smile made of all sweet accord
        Answered, “The tooths of him who charms the bored!”

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

        Lyin’ Romney is probably not only a Tax Evader, there are those who say he EMBEZZLED from the Olympics.

        So show us those tax returns back to 1998, Tax Evader Romney.

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

          Is it also true that on rainy tuesdays he transforms himself into a fire breathing dragon and poops on old people in wheeled chairs?

          Instead of focusing on every minor point they can dream up on Romney they don’t like, why doesn’t the radical left find something positive about Obama’s record? At least Romney was in the COUNTRY as a child, not raised in Indonesia listed as a Muslim student, or hanging out with Ayers and Farrakhan. It’s called REALITY.

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

          Even I know there’s no conspiracy here.
          http://www.npr.org/blogs/thetwo-way/2012/09/21/161555470/romneys-2011-tax-return-shows-he-paid-at-14-1-percent-rate-campaign-says
          There’s a difference between “tax evasion” and “good accountants”

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

            2 Million dollars in taxes… How long will it take you “riggedgame” to pay that much in taxes in a net dollar amount? Oh but you believe in “trickle down government” Eventually the government won’t give themselves raises as everyone else’s income goes down, eventually government won’t have a huge amount of unfunded liabilities from past senators pension plans and golden parachutes that are superior in everyway to “obamacare” or any government healthcare plan for the PEOPLE, because the by the government for the government healthcare plans are legit while those for the “people” are laden with special interest groups to help fund specific medical campaigns that finance many senators and congressmen’s campaigns. So yeah lets “get the rich” and make them pay for it because eventually it will “trickle down” to the regular people… How’s that working for you?

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

          Still haven’t gotten back to us on that “inbreeding” comment from the other day, eh? You’re a moron. No wonder you’re an Obama supporter.

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

    NFLX getting dick punched

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

    Is the black helicopter/Bernanke/please re-elect Obama ’12 team up to something? Like the ‘Outer Limits’ a STRANGE Algo trading program is in control: http://www.businessinsider.com/mystery-algorithm-4-of-trading-last-week-2012-10

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • L.K.W.

      Personally, I think the Algo was designed to incinerate “price discovery” so your man took it out, to make the young children who wrote the criticism of the Algo feel a bit higher..

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  14. JTU

    OSG is sucking dick!

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

    What ever happen to PPT 2.0? Summer has come and gone.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. TheRed-BlueSwingTrade
    TheRed-BlueSwingTrade

    Good trades coming from momentum shifts in this election cycle: Romney polls rise, coal goes up and renewable energy and gold goes down. Focusing on the swing states for the final outcome, it doesn’t take a very big percent to throw the game to Obama. So the trading plays are to buy Oil and Coal and sell gold and renewables with every Romney uptick, and then do the opposite with any positive news for Obama.

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

      As I said: As Tax Evader Romney’s polls rise, the stock market DROPS.

      The stock market is smart.

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

        Halloween challenge for the ‘Jackass’ guys:
        Show up at Rigged’s house for Trick or Treat with a Romney mask, a bullet proof vest and anti-psychotic sedatives.

        *credit prior poster

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

        Is that why the market dropped 800 when Obama was elected?

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

          I don’t give a shit if it dropped 99% when Obama “was elected”.

          The market has more than DOUBLED since he was inaugurated on Jan. 20, 2009.

          I don’t give a fuck about what it did under Herbert Hoover or Grover Cleveland.

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

        Wouldn’t you WANT someone that can use legal loopholes to “evade” paying US payments to our debtors and who can get good accountants to increase the GDP that will make the US richer as a country? Wouldn’t you want someone that plunder’s other countries in a “vulture capital” fashion and makes those around him rich as a president? LOL, seems to me that Bain Capital running the american’s finances would make us all very rich.

        Oh, but we don’t want that, we want guy who will make the rich poor instead of making the rich richer and the poor richer as well while making the other countries rich and allowing them to grow at our expense!
        OBAMA PHONEE!!!

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

          *Oh, but we don’t want that, we want guy who will make the rich poor (instead of making the rich richer AND the poor richer as well) while making the other countries rich and allowing them to grow at our expense!
          OBAMA PHONEE!!!

          • 0
          • 0
          • 0 Deem this to be "Fake News"
  17. Marc David

    Fall is defined as “when SBUX releases the Thanksgiving Blend.”

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

    OSG and JIVE use strength to sell

    pharma + refiners = $

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

    Master FLY,

    I am enjoying my gain in ANR its up almost 10 percent. Where do you take profit.

    Also whats you exit point on ULTA. I had nice gain and now its 2/3 percent below my entry.

    thanks
    Bill

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. The Fly

    You are all cry baby bitches

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. widespread panik

    AAPL will experience its 10th slingshot effect in two years nicely before the election. THE Market leader clearly tells you a slight correction is coming for everyone, then it will be the first to tell you when the coast is clear. I have been gently scaling in on the way down using Dec/Jan calls. The new phone is unbelievable and the maps are better than before. If you don’t get that fact that this “toy” is the most important computing device using electricity in many millions of daily lives (mine included) then keep buying SO/DUK. Avoided most of the downside pain and will reclimb the fun ladder leading up to earnings. I only scale back in below its 50 dma.

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