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


If you bought high beta growth this morning, in the hopes of catching a nice 10% rip to the upside, you caught an ax to the face instead. I was sitting in my office, lamenting my position, trying to figure out–FOR THE LOVE OF GOD, how to escape this tragic nightmare I find myself in. I gathered up my courage and crafted a portfolio of stocks that I felt would yield between 3-5% over the next month, then I got cold feet. It’s a good thing because this market is selling off into tomorrow’s jobs numbers.

If the jobs numbers are weak tomorrow, coupled with the fact that the Fed is being led by an old seahag, kiss this market goodbye, for it will drift out to sea, doling out egregious losses along the way.

If you are having a decent year, play the jobs numbers and do it with style. If you’re like me, hard core loser, down 32% for the year, you might want to pick a better spot to gamble.

Breadth stands at 42% and TLT is through the roof, hardly a bullish scenario to behold.

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  1. Brian

    Sell it all.

  2. johnny joker

    unleashing one’s animal spirits right now to buy up all the high beta junk would be analogous to getting “dick guillotined” and “ass guillotined”

  3. Jean

    Can we just say once again that high beta growth is DONE (for now) too much damage doe, too many people trapped, for this recover in any meaningful way without long drawn out basing action. Take that shit of the screen, turn page for good… You haven’t kept MCP and REE on your screen after they died did you? Let’s just focus on what works and move on for good.The future is bright.

  4. the pirate

    This is what it will look like when Cp’n Fly makes his triumph:

  5. the pirate

    Shocking video I just saw about Israel’s “peace partners” – a must watch to understand what is going on in the Middle East:

    “Traces the history of PLO/Fatah, now better known as the ‘Palestinian Authority,’ the organization that will govern a future Palestinian State. The video shows how PLO/Fatah emerged from the German Nazi Final Solution.”

  6. I Am Jesse Livermore

    if rates for the 30 yr and 10 yr keep going down then divvy ETFs are the place to be. look at the charts for XLU (+15% ytd), ICF (+15%), DIV. you can even buy 2x and 3x levered div ETFs like DRN (+43%), MORL (+27%), MLPL. hell, UBT (2x of TLT) is up 23% ytd!! i wouldn’t buy ’em here b/c they are overbought, but i’ll watch to see how they act on a dip.

  7. Bruce J Keller
    Bruce J Keller

    I have puts on LNKD, YELP, and SSYS, all at near their relative highs today. *crosses fingers*

    • Gary Kaultbaums Excited Reply
      Gary Kaultbaums Excited Reply

      Bruce – you are such a fag (yes homo).

      Fly, this market eats the over zealous for breakfast. Look at TSLA MA etc buyers this AM. All punched in their earholes.

      PS Bruce what, no mention of your horrific FEYE play. Oh yea SSYS doji YELP doji & LNKD doji. Whooops.

      • Weenie Roast

        Such words rooted in hate. You need me to send you the Same Love” song by MACKLEMORE?

      • Bruce J Keller
        Bruce J Keller

        FEYE play was a just for shits and giggles play. It was only like $45.

        F your dojis. LNKD already down in after market.and results not even out yet.

    • I Am Jesse Livermore

      “crosses fingers”? hope is not a viable trading or investment strategy. you are just gambling buying options bef earnings. you might as well go play blackjack.

    • Bart Smith

      How old are you 15?

  8. The butcher


  9. johnny joker

    the LNKD earnings reaction goes to show you how the tech selloff disaster still isnt behind us

  10. Trading_Nymph

    Happy May Day, China will be closed again tonight. I am still waiting to see if China Govt announces something. In Market tops, which I learned in 2008, even the best stocks with the best fundies dive. Yellen doesn’t even have Stanley F. yet at the meetings, I can’t wait until he is at the meetings.

    • I Am Jesse Livermore

      Nymph, for SPX the 38.2% fib extension of the last major bull of 2002-07 is exactly 1,884.54. Hmmm, any wonder why 1880-1890 has been major resistance??

      • Trading_Nymph

        Jesse, I use a 161.8 above a 100% move, which takes us up into the 2060ish range. If the world hits the market with more QE we could do it, but IMHO this QE stuff is done.

    • Cascadian

      Fischer won’t mean much.

      • Trading_Nymph

        Cascadian, Watching many of his interviews, it is clear that he is not a follower. With a couple of hawks on the FOMC, we can see them egging on Fischer. Fischer wants to get along, but I can see a major shift from Rubber Stamping the Fed Head once he joins them, esp with bad econ data. Fischer in his heart is not a QE forever guy.

  11. bood

    the media suck more ( i mean they do – i mean did – exactly what they’re supposed to ) :

    May 1, 2014
    5:23 PM
    Dow Theory back in action as transports, industrials hit record

    Last week, the Dow Jones Transportation Average closed at a record level, exciting a lot of Dow Theory enthusiasts who waited for the confirmation from the Dow Industrials. Finally, they got it.
    May 1, 2014

    May 1, 2014
    4:46 PM
    Akamai earnings rise to top estimates
    Akamai Technologies Inc. AKAM said its first-quarter earnings rose 1.8% on continued revenue growth

    May 1, 2014
    4:41 PM
    Wynn Resorts’ earnings rise on growth in Macau

    Wynn Resorts Ltd.’s WYNN first-quarter earnings climbed 12% as the casino operator reported a jump in occupancy and daily rates in Macau. Shares rose 1.6% to $210 in after-hours trading, as the results exceeded Wall Street’s expectations.

    May 1, 2014
    4:32 PM
    Outerwall earnings edge up as revenue rises

    Outerwall Inc.’s OUTR first-quarter earnings edged up 2.5% as the kiosk operator recorded higher revenue. .
    May 1, 2014
    4:27 PM
    Skullcandy posts narrower loss, raises outlook; shares jump

    Expedia Inc.’s EXPE revenue jumped nearly 19% in the first quarter as the online travel site reported continued growth in bookings
    May 1, 2014
    4:25 PM
    Kraft earnings rise as margins improve
    Kraft Foods Group Inc.’s first-quarter profit jumped 13% due to wider gross margins
    May 1, 2014
    4:23 PM
    Akamai Technologies shares up 4% after results

    May 1, 2014
    4:23 PM
    Akamai Technologies shares up 4% after results

    May 1, 2014
    Kraft profit helped by one-time gains

  12. Mr.Partrdge

    INVN LNKD EXPE nothing is behind us.. falling a part…. bounces will be sold until they will not… need to sit tight and wait

  13. Raise taxes, lower spending
    Raise taxes, lower spending

    Any thoughts on NLN.TO, a little tech company that seemed to miss the sell-off?

  14. dave

    Just email Janet Yellen and ask her to print another trillillion dollars. You will recover alll that you have lost in the market.

    This is what keeps the market afloat. I want it. You want it, Pension funds want it, Everyone with an interest in the market wants it.

  15. ironbird

    Does the jobs number really matter? This tape is waiting for something. Not so sure it is a fiction jobs number.

    • heaterman

      The jobs number has been nothing but fiction for the last 5 years at least.
      Massaged, manipulated and manicured to prove to the Merakin public that the mighty 1-2 punch of 0bama’s “package” and the Fed’s endless supply of red ink can handle any crisis.
      Our government has lost any semblance of credibility in the eyes of not only the citizens of this country but also nearly those of the entire world.


      • it is showtime
        it is showtime

        I wouldn’t charge reckless manipulation. Don’t need to

        The math absolutely deceiving, massaged, deluding. Much the same inflation became core inflation, gdp became gdp+pension+intellect prop

        And the shrinking denominator for various reasons

  16. Freebie

    Imagine the coin we could have banked buying puts into the froth of March

  17. JPE

    Agreed. This market blows! Nothing’s caught my eyes in weeks

  18. FLY is a pussy
    FLY is a pussy

    If FLY goes cash = i go LONG,
    if FLY goes long = i go SHORT…
    i think thats the play for the year !!

  19. FLY is a pussy
    FLY is a pussy

    i think mr.FLY should change his…
    i win a lot to i lost 32% in 8 weeks on his avatar

  20. alf44


    We are Stardust … billion year old carbon …
    We are Golden … caught in the Devil’s bargain …
    And, we’ve got to get ourselves … back to the Garden !!!

    ~ Joni Mitchell ~


  21. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    I am -1% for the year, 100% long EWZ, with 25% leverage short via ES futures. If the jobs report is good, ill eat my losses on the futures. Otherwise, I’m just trying to hedge my way down a correction. I don’t see any major breakout catalyst coming soon.

  22. goose20

    NAZ and Russell forming head and shoulders possibly?

  23. Gates

    It’s all about the insurance companies people! if Granny continues ZIRP if FUCKS the pension complex that has a rolling duration risk – in other words, they have a cash flow problem with new ZIRP bonds replacing bonds that had a yield – Denninger (I know many of you hate him), pointed this out a LONG time ago! – Yellen will sacrifice the stock market before she lets the Insurance companies go.

  24. SCJ

    I’m not doing too bad lately with a few unusual stocks. What that means is I’ve just recently crossed my opening Jan. balance. I am only now closing in on my account high, which was July 22 2013.

    • jose mann

      SCJ, how big is your account ???

      • SCJ

        I feel too cautious to publish a number. It’s mostly me and my spouses Roths/IRAs and I don’t care if you guys all laugh at that. I’m a pretty good trader and I love doing it.

        • SCJ

          only 1 spouse, missed an apostrophy

        • cwinsor

          one spouse is more fiscally prudent. jose man’s question is invasive. better question is what’s your method to unearth “unusual” stocks?

  25. AdHoc

    $LNKD got smoked after their conf. call because their guidance sucked and we can expect more carnage and going forward. So if you are short…stay short. They have a world of hurt valuation wise and growth wise much more than $TWTR…sell both

    • bood

      do not expect the pull will be hard , it will not . indexes will come back , everyone know the direction is upside and new highs at the moment , there’s buyers downstairs . take care .

    • bood

      there is nearly no one interested in a downside , aparte speculators who can’t count on vix and hft as in the past. the max you will have is some chop with no volume to reach downside targets/supports

  26. blackalgo

    Time to get long folks. Sitting +3% for the year and getting long DATA, FEYE, YGE, BALT to name a few. This market is going higher from here.

  27. The Real Muppet
    The Real Muppet

    The direction, gentlemen, is up.

  28. Bullish

    Let’s all start crying now…
    Damn that Obama and his resilient US economy!!

  29. TheHarper

    Joaquin Phoenix and Benicio Del Toro for the next True Detectives