Saturday, December 3, 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
14,826 Blog Posts

Long Till Tax Day

I didn’t allocate any money, aside from a small purchase of HMC. I’ll wait until tomorrow to take a stab at the market. There’s some decent conviction in this market and tech is leading the way up. If AAPL could get going, the Nasdaq will take off.

I was going to buy ELLI on this dip, but opted to wait and see what sort of news materializes. Frankly, I am not in the market to buy dips. With the money that I’ve earmarked to invest, I want momentum.

XIV is probably going to be the best investment over the long term. You can’t go wrong betting against volatility. What a suckers bet going long the VIX.

I’m most bullish on Japan, holding both HMC and SNE. I believe TM is on the verge of conducting a “one hundred dollar roll” soon. Buy in now for a 6-10 point run.

Gold/silver bounced today, but the sector is utterly useless. There is no discernible edge going long any miner. They’re run by criminals with black teeth. Their workers are whipped with leather to work and kicked into holes 10,000 feet deep. If you are an idiot who believes in inflation, go buy GLD. I’d avoid any and all miners, not only because of the 16th century working conditions that persist in these middle earth hell holes, but because the stocks do not trade according to reason.

If we are to follow seasonal trends, the market is going up from here until tax day. However, I strongly suggest avoiding all earnings plays.



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  1. Cascadian

    The miners have been down so long and unreasonably so– it might be time for a turn around.

  2. Mr.Partridge

    Goo way not to pay taxes is to never sell your positions šŸ™‚

  3. The Plumbers Crack
    The Plumbers Crack

    With top hat, cane and white gloves, (even though my ass is hanging out) I will not partake in use of the foul language in expressing my feelings.
    Sold most of my EXK yesterday &%*$^###%&@**#
    oy vey.

  4. UnderValuedAssets

    “Iā€™d avoid any and all miners… because the stocks do not trade according to reason.”

    -Until they do.

    As you have taught us plebs in the past, buy when others are not.

  5. It Is Showtime

    Reentered UVXY

    Risk/reward. vix approaching lower 13s

    Don’t mind waiting for that next spike

    • tm

      That’s an awful instrument to stick around and wait for a spike. Tons of negative roll yield on the VIX futures cause this to decay rapidly.

  6. fake amish

    Amex laying off 5400 peeps. This is not a good thing. EBT living.

  7. Mr. Cain Thaler

    Did you just crack a Hobbit joke…?

  8. razorsedge

    buyin vxx calls tomarrow, but not goin crazy.

  9. CalgaryG

    Anybody like MSFT down here for the Old man/ dividend/ value angle?

  10. widespread panik

    Win 8 is awful!! I just sold it out of my biggest client account today (inherited position) and doubled up on AAPL and ORCL. Buy when Fly sells the miners. SLW is gonna be a great performer over the next 1-3 years.

    • The Eye-Talian Stallion
      The Eye-Talian Stallion

      W7 is perfect but some lameass 23 yr old engineer told his 33 year old manager who told his 43 year old VP how cool the tiles are. Ballmer fell for it and what a disaster.

    • The Fly

      Shut up you putz. This is my first recorded loss on EXK in two years.