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
23,446 Blog Posts

You’re Gonna Lose a Boatload of Money One Day

You gobblins are going to lose all of your money one day, playing with your margin accounts, betting on stocks. You know and I know it.

I see how people treat their money. They view it as numbers on a screen, not real, like true gamblers at the OTB. Degenerate pigs, betting on an upward spiraling tape into World War III. You should be ashamed of yourselves. If your parents were alive, they’d punish you and send you to your room.

The market has a putrid scent of perfume, a decadence I do not care to shower myself with. I can see tomorrow’s headline today (time machine) and it spells doom for many in the reader class of the SS iBankCoin.

You trust in online gurus, who do nothing other than blabber a few things on the teevee or type a few words into the computer. But they’ve never suffered with client assets. They’ve never a had 6’5, 250lb client show up at their office (RAMP’d), unexpected, at 8am to discuss why their stock was down 50% the night before. All they know is the blog, the online persona that protects them from reality.

“The Fly” shields himself, not for the sake of himself or his family, but for the protection of his readers. I’d kill every last one of you if anything interrupted my nightly cup of Earl Grey tea (a little milk and a dash of honey).

The Federal Reserve is going to disappoint tomorrow and those who are leveraged long are going to lose 3 weeks of gains inside of two short, yet dreadful, trading sessions.

http://www.youtube.com/watch?v=FGwz_MoSCqA

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29 comments

  1. nocigar

    When has Big Ben ever disappointed us?

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  2. weegoody

    i would love a few ideas for remnants to be picked from the ashes on Monday. You mentioned solar then not. Best bottom picks after the fall? Whomever fall the least? Wisdom! (for free).

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  3. gatorsun

    if you weren’t selling into strength mon/tues…well..we shall see. I was surprised we were up today..but i’m sleeping well tonite

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    • weegoody

      yes…i sold off too soon an TASR and TSLA…Monday bone fest. But thems the knocks. 50% cash tomorrow.

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  4. xxxhuggiebearxxx

    Long 8000 TZA into the close. Took a few pennies of heat but i like my odds.

    Will i hold into the announcement? Depends….but probably will shave the position by 2/3s beforehand.

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    • The Fly

      And then you bitch and moan about getting raped.

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      • xxxhuggiebearxxx

        I don’t get raped as much anymore but i do just run in place quite a lot. Mostly I am just playing the odds that SOME fear will manifest before the announcement after a torrid runup over the last week. I also expect some selloff upon the announcement, but i won’t bet big on that.

        Mostly i am bullish and hoping to get long after a decent dip, with a plan to ride it into year end.

        But todays tape was cruel….i wouldn’t be surprised if we wake up to futures up .7% tomorrow morning. But i bet it won’t hold.

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  5. gatorsun

    but SCO in the sweet spot

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  6. The Fly

    Why must everyone gamble, all the time?

    How about cash?

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  7. softbatch26

    A dash of honey?

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  8. gravestonedoji

    Tomorrow is not the day to be levered long unless you are a meat pulling jack wagon of the first order. I am at 50% cash but find myself with an assortment of positions that are just fucktarded. My only saving grace may be small position sizing.

    Nonetheless, I am sure I will be scrambling like Smeagle by about 2:30 pm tomorrow, madly clicking buttons and screeching about my Precious.

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  9. CF4

    Reduced long exposure from over 80% at start of Sep to under 40% now

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  10. matt_bear

    what happened to bashing people who suggested to short, and that this market is going higher?

    i stand at close to 20% cash, while also holding spy puts.

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  11. xxxhuggiebearxxx

    Cryptic has gone full retard. And you know what they say about that.

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    • ironbird

      Classic Mo. Fucking mad at the world while the world looks on the turd with apathy at best.

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  12. The Fly

    Cryptic is banned for being an aggressive homosexual.

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  13. budh

    Bernanke is a lame duck. Yellin is jellin’. She is much less likely to cut back on the QE. Gotta cover the national debt, and QE is the easy way to do it.

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  14. tradingnymph

    Boy I hope you are right fly. This Bear needs her day.

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  15. TheHarper

    I would laugh rather loud if Sir Ben ashes his chewy blunt on the detractors and announces no tapering.

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  16. haveseenitall

    Fly, do you think GOGO can get to 30 by the end of the year ? I’m told it is perfect timing for their upgraded technology with most of the competition well behind AND contract renewals are up in 2014 .

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  17. j livermore

    Great picture Fly. Family member of yours no doubt.

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  18. ironbird

    Did the ceo of a retail chain that is in every fucking form of shopping area, just talk shit to every gun owner in the usa?

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    • ironbird

      Wtf was the dude thinking? Coffee is available everywhere.

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    • one-eighty

      How could a CEO put basic decent humanity ahead of the bottom line? Doesn’t he know this is AMERICA!

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