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
23,428 Blog Posts

Amazon is Stupid

“Your sturpid American companries make a no monrey–har, har, har.”

Chinese burritos stocks spit in the face of Amazon, while eating fetus soup.

Much to my surprise, most of my stocks are higher today–leading me to believe there is a wave of buying just around the corner.

Stay long.

Top picks: JMEI, GOGO, AG

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33 comments

  1. Noni Kavuri

    Fly, you like RUBI down here? Also, you think it’s too risky to hold them through earnings? There has been buying since it bottomed out under $9 this week.

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  2. penfuin

    Adding more AMZN to the retirement account

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  3. ff

    quit buying these sham companies

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    • Dr. Fly

      Let me tell you something, pal: I can buy whatever the hell I want and the likes of you will never stop me.

      Do you know why?

      Because you’re nobody, a leaf in the wind, a breeze that no one notices.

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      • ff

        You are correct. It is your money to set a fire.

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        • Dr. Fly

          No, I am correct that you are a misanthropic pig man

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          • ff

            So far I have been called:
            1. Nobody
            2.Leaf
            3. Breeze
            4.Misanthropic pig man

            never saw that coming when I woke up today.

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          • Dr. Fly

            Thanks FF

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          • Jon V

            This guy is such a tool. He’s one of those permabear / gold bug douches. He’s trolling over on Option Addict all of the time offering up his sage advice yet is wrong 99% of the time. Meanwhile I’ve sat and watched my LEJU “pig” go from $10.75 to $13.5 in the space of 2 weeks, amongst others.

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          • ff

            NUGT prints low 50’s next week

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          • ff

            You’re broke and you don’t even realize it.

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  4. alty

    Don’t garbage stocks usually rise at the end of a bull run?

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    • Jon V

      Yeah problem is they started rising in 2010 at the supposed end of the bull run.

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  5. JD

    Do you think we’ll see two big monthly moves to the upside before the top like in late 99, early 00?

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  6. bruce keller

    :'(

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  7. TraderCaddy

    I’m thinking more along the lines of Aug,-Oct. 1987.
    The warning signs were there in Aug. ’87 on several 100+ day drops of growth stocks of the times.
    There were IPOs, mergers, higher rates, bulls forever sentiment, etc.

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    • Tom

      With that in your mind, are you still investing in equity or stay sideline or ? Appreciate your insight.

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      • TraderCaddy

        I’m always in one way or the other (long, short) so don’t go by me but my bias is short the indexes.
        Today I was in and out of GG (was the strongest gold stock the last few days), short SMH etf at open (I covered already) and went short 2X DJIA in Rydex funds @ 10:45 AM price (will probably be out @4:00 price).
        Bias is going to be short the indexes.

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        • Tom

          Thank you. Do you have any long time investment, like years, kept/will keep through market wave? or short time trade only?

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          • Dr. Fly

            Tom

            Plenty

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          • TraderCaddy

            I have a good portion of my IRA (old time traditional one) that I keep with Rydex Funds that I don’t trade much (had it since the ’80s).
            I buy when I feel like throwing up (blood in the streets) and sell when I think that I am very smart and believe that I am king of Wall Street (mostly in cash now and waiting for blood).

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          • Tom

            Thank you. Your trading style has machine like coolness without emotion which I really respect, so I wanted to ask you. My 401k has been sitting cash long time waiting for the blood as you say : )

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          • Dr. Fly

            Tom

            I am about to allocate a lot of my own money for long term purposes. Stay tuned

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          • Tom

            Yes, Sir. Appreciate your work.

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  8. DaLuke

    Are you still up????

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  9. LRz

    I fully expect IFON to volcano up dramatically higher, which makes me nervous that I’m so sure.

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  10. budh

    The idea that Amazon makes no money is just stupid. It’s creative accounting at it’s finest. They make $billions but show no profits on their sheets. Like the owners of pro football teams, supposedly losing millions every year, but they pay $Billions to buy a team. Yeah, it’s fun, but they make tons of $ except for the paper write-offs. It’s really criminal except our laws allow it.

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    • Noni Kavuri

      All people need to do is back out non-cash items such as depreciation and amortization. these are large expenses for Amazon, as they own a lot of real estate.

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