Saturday, December 10, 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


When I get behind and idea and obsess over it and buy it all the time, 9 out of 10 times I will be right about that stock and it will go higher. It happened with MVIS from $1.50 to $5. It happened with FTK from $1 to $19. It happened with YELP from $12 to $40. It happened with WNR from $12 to $35. And it’s happening to FRO right now.

There are a million reasons for me to be pissed right now, once of which is that I sold a million shares of FRO at an average cost of $2.20. Also, I knew GNK was set to trailblaze higher, yet I just sat here–like a troll–eating oatmeal and talking to losers on the telephone.

The next time I become obsessed, sort of like how I am now with IMMR, just hold the stock and revisit your position a year later. In order for me to fully maximize my potential, I will need to be cryogenically¬†frozen or induced into a coma for 12 months. I’d do that, but I have kids and I love them to pieces. So, I guess this is my burden to carry, the proverbial cross on my shoulder heading up the hill (extra Jesus).

I will accept this cruel and unusual punishment and continue my work, even though said work does nothing but frustrate me.

Hey, don’t worry, I’ll be back here with new ideas that will go up 200-1,000% and not benefit from any of them.

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  1. J Livermore

    Rainbow colored FRO with that extra Jesus. Peace dude.

  2. PTSD_Trader

    OMG! That is my burden as well… wonderfully correct calls, but lacking the patience to capitalize. Entering my forties now, I can slowly see myself gaining that patience. ACAD was my call at 7.50 and, unbelievably, I still own it. I will prevail. I will not be shaken out. Anyway, nice blog about a highly annoying subject!

  3. R

    The oil spread narrowed considerably after you first got in. You got out just as the spread was really starting to indicate a pickup in imports to the US.

  4. Mike

    I do the exact same thing, over and over again. Knowing when to take profits or hold on is a serious art form. This self-loathing post makes me smile.

  5. gatorsun

    SCO pump for the sub 100 oil roll

  6. ray donovan

    My picked out FRO is glistening with Afro-sheen Thanks fly!!

  7. Mikey

    You a Smart guy Fly and an even better Dad.

  8. chivo

    can you put back some type of differentiation between the bloggers on the main page, and between posts on this site? or something on the sides? or the backgrounds? the site is so plain now. hope it’s not complete. too much white

    • The Fly

      We will make minor tweaks. But the simplicity is on purpose.

      • chivo

        Simplicity is one thing, and I prefer it. But this is just a blob of text on a white background. There should be some type of mark to distinguish what the specific page is about, ie. the text of the blog vs the comments. And then also to distinguish between comments.

  9. Language Dork

    I thought somebody once said taking profits is never a bad idea, especially in this tape

    • hattery

      I hate the mantra “you can never go broke taking a profit”. Yes you can, not all trades are winners. Whoever said that is delusional about the fact that losses happen.

      If you have 50% win rate and always take a 5% profit but stoploss is at 10% then you absolutely will go broke taking a profit. It’s just math.

  10. Dan Keyser

    I can’t decide which is a bigger turd, IMMR or the new interface of this site….on the bright side OA is on fiyah with recent picks

  11. prime

    Buy KWK. Go into cryo sleep for 24 months. Wake up with 6x return. Easy