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

Your Government Hates You

We’re going off the cliff, in grandiose fashion, and you will not like it.

The GOP will NEVER negotiate with Obama and Obama thinks he can do whatever he wants, since he was elected and all. As a result, you’re all going to suffer from heinous losses.

We’re not oversold yet, despite the perpetually lower equity prices. All of my screens and ideas are useless today, as we convoy the fuck lower. Thesis trades are for nothing, replaced by the pain of a margin call knife to the gut.

I’m not selling my 3 position portfolio because I don’t quit. With my cash, I will average down in everything, hope for the best, then sell the rips. The decline in gold/silver stocks has nothing to do with deflation. We are in liquidation mode, as hedge fund hotels get blown the fuck out. Impaired balance sheets should be avoided–because if liquidity dries up, they’ll go bankrupt.

We haven’t had a 50% breadth day since election day. This is what a bear market feels like and it will last much longer than you could ever imagine, if the degenerates in DC purposefully toss us over the cliff.

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26 comments

  1. charlie

    YELP

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  2. The Pirate

    Mayan calandar in 5 weeks, the mideast in flames, Obama firing all generals, Europe a F_king mess and the fiscal cliff. Meh, why be bearish?

    By the way Tel Aviv was attacked by a missle from the vermin calling themselves Hamas today, this is a game changer. (By the way I love the way the press no longer refers to them as ‘terrorist’ Hamas, or ‘terrorist’ Islamic Jihad but as the “military wing of Hamas” – you mean there’s a food bank wing?) Look for a ground invasion soon by crack Israeli troops who will be sending murderous Jihadis from Alqaeda, Hamas, Fatah, Islamic Jihad etc to their “paradise” a bit earlier than they had expected.

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  3. The Pirate

    -Also Obama got re-elected already, he can screw the market up the ass now…

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  4. Zmbiklr

    I don’t like it, I love it. The game is to make yourself richer than others. Times like these are golden.

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  5. TraderCaddy

    Finally, a market that is a day traders delight for degenerates like me.
    Tradebots- try and keep up.
    Maybe now I can afford that cataract operation. Those $5 off Golden Corral coupons are difficult too cut on a straight line.

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  6. spinner

    Whatever became of all the old-timer posters, i.e. say from a year ago? You know, the Yogis and Bernies and Cheeseheads and Kelkuns et al. Must have gone out “on top” and retired.

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  7. Marc David

    Save your cash and buy the larger screen TV to replace the one you just got last year.

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  8. GOODGREED

    geez, and I thought I was bearish…

    At the end of day I bought some stocks in case we have a technical bounce… only using 25% of AUM and leaving the rest in cash.

    I actually got back into SWHC near the lows of the day… and nibbled on some EXK…

    The rest of my buys are here….
    http://greedypicks.com/conservatively-preparing-for-the-bounce/

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  9. The Eye-Talian Stallion
    The Eye-Talian Stallion

    AAPL is getting JCP’d

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  10. asteroids

    Dear Fly: Is a crash possible with the tape acting the way it is?

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  11. razorsedge

    life isnt about how to survive the storm, but how to dance in the rain.

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  12. fake amish

    Another day in the life of a slowly starving parasite. The host is skipping dinner. How do you like the new deal now?

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  13. Narwahl

    The market is a butcher, carving hot slices of corned beef.

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  14. Mr.Partridge

    Interesting – Sony used to be a king of techs, over the years it has transformed into consumer goods (gadgets) company. Steve Jobs always looked up to it… in the past 32 years Sony stocks price was declining, it hit all time low this week… not saying anything about Apple – todays tech king, but this is history and we should learn form it..
    Sorry Dr. nothing to do with you blog, just something I wanted to share…

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  15. The Plumber's Crack
    The Plumber's Crack

    That fucking Capital One ad while reading on a cell phone is certainly annoying

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    • The Eye-Talian Stallion
      The Eye-Talian Stallion

      Get an Android phone, root it and install AdAway or AdFree.

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  16. fake amish

    Where is Tea? Come on brother. Tell us how some farting wave will return the foodstamp bull.

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  17. Raise Taxes, Raise Spending
    Raise Taxes, Raise Spending

    The result of the election has shown that the electors still hold the Republicans largely responsible for the financial mess. If they want to regain some credibility for their economic philosophy they need to avoid being blamed for any future problems so they need to play ball with Obama. He will not be offering much but they just have to grit their teeth and take it.
    They can’t afford to be saddled with doing a Thelma and Louise to the country.

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