Friday, December 9, 2016
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
14,876 Blog Posts

Oddball Rally

Oil and gas stocks are moving higher because folks like James Cramer suggested a new wave of consolidation might be upon us. WRONG. Today’s bump is because FCX is a ridiculously retarded organization. It’s equal to going to a grocery store and spotting a rotten piece of fruit, approaching the vendor and saying “excuse me Sir, how much for that rotten piece of fruit? (taps cane)” Meekly, the vendor responds, “well, it’s selling for $.80, but I might be able to do better.” The rich and extravagant man, named FREEPORT, responds, “no need good chap. I will give you $1.50 for that rotten fruit and while you’re at it, give me that half chewed apple in the corner as well. I’ll pay no more than $1.00 for THAT, however (mumbling to himself with victorious satisfaction).”

The meek vendor packs up the fruit and gladly accepts Freeport’s money, much to the chagrin of Freeport’s family who will now go without an Xmas turkey–because the old man spent all their money on two ruinous rotten pieces of fruit.

Parables abound!

I’m not participating in this rally, just like most of you. Despite the greeness of the Dow Jones Industrial Average, breadth stands at a feeble 53%, hardly inspiring. Silver is getting poleaxed, and by extension, as am I. My largest holding is VHC and that’s holding up, but by a thread. SWHC is scheduled to report earnings tomorrow, so it’s pins and needles until then. My world as you know it is frozen in time, stuck in the amber that is being caused by an indecisive stock market–customary of the month of December.

If you enjoy the content at iBankCoin, please like our Facebook page


  1. acehood

    More brilliance. With all due respect to what I’m sure is a robust P&L, your true calling was in fiction.

  2. Bullish

    It’s a nice catchup day for the DJIA. There’s lots of room to catch up for the year.

  3. Frog

    I wonder if the Freeport owner, or its manager, is also part owner of the grocery store. If so, that would explain this. I guess such facts may be available in public records. Will have to see if I can find them.

    If that is the case, it is only the FCX shareholders’ families that will go without Xmas turkeys.

  4. Testicules

    I guess they wanted to dump cash on something other than Obama’s miracle 2013 6-6-6 plan
    or whatever it’s called now….I don’t watch Oprah…or Maddow..or CNN for that matter,

  5. Gavin

    Hilarious post. And I say that as a long time FCX shareholder. I guess laughter is a better remedy than punching my fist through the wall. Asshats.

  6. bobbin4apples

    Can anyone think of a reason not to short VXX forever?

  7. Anton

    But how can you argue with a guy who uses a sound effects machine on his show when all you have is a lousy time machine?

  8. Mr. President

    I’m still in TITN. Any opinion of it, Le Fly?

  9. hard on

    Nice post. Enough of that election garbage. Fly back to his normal entertaining self. Two days max until le fly flops back to bullish!

  10. theedge111

    I prefer to get reamed in the silver market via PAAS.

    My ass is starting to seriously hurt but I think the miners will be winners down the road.

  11. eagle

    $PXP it was a great stock!!!!!!!!!!!!!!!! $DECK is next.