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
23,445 Blog Posts

A Cruel Summer

There was nothing distinguished about that tape, that rabble that just dropped rocks on my head. There I was trying to have a nice meal, celebrating my daughter’s elementary school graduation, and BAM! the market tumult returns with a vengeance, boxing about my chin and nose. Why, just this morning I was crossing the Rubicon, on my way to sack large cities, make slaves of my enemies. Now the Iranian revolutionary guard occupies my house and they’re making me convert to Islam and hate the stock market.

I was partially saved by RUBI being green. But let’s be honest, today was a fucking meltdown of epic proportions, Chernobyl 2.0. I had so many higher stock prices this morning and now I have a leather whip to my face.

To remedy this situation, I’ve prescribed large quantities of wine (trust me, I am a Doctor, god damn it).

It feels like a Friday to me. Much to my chagrin, this market will open tomorrow and most likely defecate onto the faces of all of those who were climbing the wall of worry for the past 5 weeks.

I lost 1.4% today.

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35 comments

  1. Mr. President

    Phrases like “boxing about my chin and nose” are why you are the blogfather.

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    • sazfurb

      I think this line is more why he’s the blogfather:
      “this market will open tomorrow and most likely defecate onto the faces of all”

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  2. bruce keller

    Yeah, this morning was awesome for me… the afternoon; not so much.

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  3. Rlbrkr

    Like a punch to the scrotum, down 1.65%

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  4. UncleBuccs

    I met the guillotine – full thrust, many moons ago. Days like today merely skin what’s left of the stump. No biggie…(pun intended)

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  5. Marc David

    Just hoping for an OS signal so the VXX can be shorted, TNA can be bought and we really to 17k.

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    • it is showtime

      The psychology is so ingrained that dips will be saved

      Saved they were you can’t deny that. You are being conditioned

      Just be aware

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  6. ROBERTA CARL

    Worlds greatest here. I am sick and tired of listening to all the plebeians on this website, most of whom I am betting are mattress salesmen full-time.

    Listen to yours truly, CEO of the Universe, and you will achieve greatness (albeit my penny stock program costs 59.95 a month- contact your mother for details ). I pity all the fools here who are losing millions in the market while I rake in trillions everyday and push my lambo to 5 hundo on a daily basis. It’s ALL about TNA and staying bullish for life. Don’t be like all the bafoons out there trying to game the system. The market poses ebbs and flows just like everything else in life. Sit there and take the beating like a man. Don’t be a piker and pull out. Stay long, hard, and firm in TNA like Lex Steele.

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    • Jennifer

      loser

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    • it is showtime

      Reality is going to crush your comic strip hero world like a fukushima monday meltdown

      You may think youre the star of a Coen brothers movie but your way of life will be decapitated. As it should be. The population redux commence. The cultural reset begin

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  7. Uglyflint

    What happened to the investment hedge fund commentator ? Was he secretly erased in the dead of night ?

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    • bluestar

      I don’t run the show. I was busy preparing for my move to Maui and I got my face ripped off in the short squeeze.

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  8. JTU

    AMBA- GoPro IPO on Thurs. morning.

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  9. bluestar

    This may be the beginning of something bigger. After getting killed by the short squeeze I took a stab at AMZN on the short side again today. The force is strong with this bull market.

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    • Noni Kavuri

      I personally think, barring any US intervention in Iraq, S&P will break 2K and Dow will break 17K, before a correction in the fall, after QE3 ends(I assume the Fed will end it, as it’s down to $35B/month now)

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      • bluestar

        You may be right. I just can’t get long this market looking at the technicals and how stretched the rubber band is.

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        • Noni Kavuri

          SPY is 2.8% above it’s 50 day MA and 7.4% above it’s 200 day MA. So S&P is going to have to drop ~50 points from 1950 to test it’s 50 day MA.

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        • UncleBuccs

          Bluestar – I like you, and think you’re good to have around.

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  10. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    I am short 20k shares of TZA…but far underwater. Summer has been cruel indeed.

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    • xxxHuggieBearxxx D.P.M
      xxxHuggieBearxxx D.P.M

      excuse me….LONG. Either way, something tells me short or long are losers in this market.

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  11. Noni Kavuri

    But Stovall said June may not be the month for the pullback, or at least that’s how it’s happened in the past. Since 1945, the fewest pullbacks on the S&P 500 have started in June with 4%. October had the most with 11%, and May, July , and August had 10%.

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  12. anton

    Effusive congratulations on your daughter’s graduation.

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  13. CANIS LUPUS

    it may very well have been painful, but prepare for it to get silvery golden !

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  14. bruce keller

    Ohh nooo, flat futures. Today should be good action either way. Hopefully with a bullish bias.

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  15. JTU

    AMBA-short interest was approx.17% of float at the end of May. I’m hoping for a short squeeze with the GoPro IPO on Thurs.

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  16. Yinzer

    Yinz buyin, selin, or just whinin?

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  17. Trent

    Where is the Fly?! We want the Fly!!

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  18. ouch

    WNR is getting whacked! Blame 0bama

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