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
21,317 Blog Posts

My Take on Today’s Sell Off

I am reporting to you from the blackest room possible. “The Fly” does not mingle or gallivant or even travel during the frigid winter months. He remains in his northeast corridors to stockpile coin and socialize with complete idiots on the internets. The degree of today’s losses were sizable, yet none of your concern. What’s important for you to know is what I let you know.

I am brooding, chain drinking from cartoon sized mugs of black tea, seasoned with the finest bergamot oils available to this world. I know what the market will do tomorrow and in the near term, but I am going to ignore it–stick my head in a bottle (like s ship)– and jog on.

This morning I bet some of you were running about the office with exposed genitals, so happy to be long an upward surging market. Towards the end of the session, a great many of you found those same genitalia removed from your person. Castration trading is my favorite, particularly when I am flush with cash.

Having a 100% long bias into a maelstrom of volatility-driven-panic is a sure fire way to become a man overnight. I took my losses, stared at them with glossy eyes, and spit at them.

According to my investors handbook, published in 1817, the market is supposed to trade up until 4/15. At that point, when all of the taxes are collected and the treasury is good and fat–succored with the blood and sweat of the middle class, the government will “let the market go”, until it catches it later on during the fall. These are all known facts, some of you are still unaware.

I should be selling to protect my 9% gain. But I will to the exact opposite and buy more–setting a course for collision– flailing in the wind, swinging swords and lit sticks of TNT like a pirate without a ship to ransack.

http://www.youtube.com/watch?v=-UvXY-evNNQ

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21 comments

  1. ScroogeMcDuck

    Thug poet

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  2. djmarcus

    More OS today than we were last week in PPT land. I’d like to see a gap down followed by a rip higher once the weak hands are gone.

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  3. UncleBuccs

    I’m clogging to your rambling embedded tune at the moment….sans britches. Thanks for the fun.

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  4. fake amish

    Godzilla is fucking shit up. Spitting stability all over.

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  5. dk

    One has to be in awe of the market. A grandma in Topeka lost retirement money today because Italians decided to elect a slimy lying billionaire who bangs 17 year old faux models.

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  6. widespread panik

    IWM March 90 puts, up 140% from 10:30 AM purchase till da close. Swapped them for a CONSERVATIVE April 94-89 IWM put spread that was bought for 3.50. Who wants to bet me that this spread finishes next month @ 5??? Waiting to see the whites of this market’s eyes and I will load up with IWM 90 calls sometime Wednesday Thursday? Stock picking is for idiots.

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  7. Dire Wolf

    I’m short this market.

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  8. peter pann

    The time has come for a name change…may I suggest the_faux_fly? A real fly stays dormant in the dark, awaiting warmth and sunlight to feast on the death and the fecal matter night has brought to its bounty. You have exposed yourself as nothing more than a common vertebrate. No less, no more.

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

    ZeroHedge has to be right every four years to retain his fan base and grow new customers.

    http://www.zerohedge.com/news/2013-02-25/chart-everyone-concerned-about

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  10. flyaway18

    Back to work after a week off. Down small as I bought small from the new positions I bought last week (XHB, ITB, KKR, XONE). Still long RIG, DECK and SHLD, giving back gains. I’ll add to RIG in the 40s again and have a buy order for DECK at 39.60. Been looking at a bunch of stocks which I will report on later.

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  11. Mike

    Precious metals – EXK here?

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  12. Clock

    This morning I bet some of you were running about the office with exposed genitals…

    Damn – – i didn’t think anyone was looking……..or interested šŸ˜€

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  13. JakeGint

    I can’t believe nobody told me the video wasn’t showing up today… yeeeps.

    It’s fixed now…

    Should make a little more sense…

    _____

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  14. Blind Read Ant

    Always V.King with style.

    $VK 8:4it

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  15. noodleboy

    Soon…..

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