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

AIN’T SO BAD

I got all excited for this shit? Really?

Here I am, finalizing my living will, making preparations for my inter-galactic journey to persei 8, and the market is giving me a milquetoast opening of just -86? Sadly enough, many of my stocks are up. I have little to complain about.

Before I start to wish and fantasize about punishing the social misfits, who have been buying VIX instrument products, I want to remind you that nothing is what it seems. The drop in crude, the rise in volatility, the wars, pestilence, famine, it’s all 100% shit.

Dennis Gartman entered the arena this morning, warning of a long bear market. Corrections are always accompanied by a distinct sense of doom that infects the minds of investors. More often than not, the market is not in a bear market. These corrections pass and stocks are judged by their earnings, not by some idiot on the television raking in the tea leaves with a shit covered shovel.

The low probability trade is to crash. The high probability trade, based off recent history, is for a full market recovery. I know that seems foreign to you, almost ridiculous. But this is the only thing left worth fighting for in America. The central banks know that to have a bear market is to invite another credit crisis. Measures will be taken to stem and reflate any semblance of deflation. At the moment, deflationary pressures are front and center.

Wade through the bullshit and try to look over the horizon.

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33 comments

  1. flyaway17

    The data for US is not that bad.

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    • the profit

      Yes, but this bear is wearing kevlar.
      Greenshoots and positive earnings simply bounce off. We need more firepower here….. we need the bazooka (or at least someone to show us a bazooka). These pea-shooters have no effect.

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  2. J Livermore

    You mood is swinging like a couple from the 1970s.

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  3. flyaway17

    Crude and natty inventories should be interesting.

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  4. j

    But good data is bad data now because of the concern the Fed will act.

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  5. tradercaddy

    Any specific bequeath (means give away in your will for those in 0hio) in your will for the blue radio or the lawn lights?

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    • t.c.

      I, Dr. Fly, being of relatively sound mind and at least eighteen years of age, do hereby give, devise, and bequeath

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      • tradercaddy

        Yes, the term “relatively sound mind” is relative in this case.

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        • surplusdroids

          Can we put the 80’s limo in trust?

          Fly’s children, as beneficiaries, should receive it when they become driving age.

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  6. matt_bear

    HE’S NOT A MACHINE! HE’S A MAN!

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  7. smartestone

    looking choppy again…long DIA puts

    i hope it does bottom and we do get a huge rally but just not in the cards today

    ppl get scared mid day and start dumping

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  8. bobbin4apples

    wait for it….this market wants lower prices in everything

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  9. Dr. Fly

    CLEVER. Another lure. Now we are really going down.

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  10. alf44

    .

    BEWARE of “shit covered shovels” !!!

    .

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  11. the_wolf

    “aint so bad,…….. yet ”
    http://www.zerohedge.com/news/2014-10-16/who-shocked-427-ebola-infected-healthcare-workers-cases-top-9000-deaths-exceed-4500
    the ebola trade is far from over

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  12. sethster99

    Fuck, Gartman called for a bear market. The best trade is to do the opposite of that ass.

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  13. budh

    10% correction would be a good thing. Haven’t had one in a long time. they happen from time to time for no particular reason.

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    • bruce keller

      S&P basically corrected 10% as of yesterday. Was like .14% off or something like that.

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  14. J Livermore

    Your mood is swinging like a whore in church !!!

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  15. bruce keller

    Holy shit that IWM though.

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  16. J Livermore

    What of the $BABA? What of the poor $BABA?

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  17. J Livermore

    Go $TRUE !!!

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  18. nynyny

    25 point move up on the S&P in five minutes. LOL

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  19. J Livermore

    Oooops back down, no wait…back up we go…no down…no up….yes up….oh no, down we go.

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  20. dewey dortmunder

    “as the oil men from the Bakken prepare to go back to their former jobs at Wal-mart.” It is your ability to spin phrases like this that engender your readership’s love of Fly (slight fruitiness).

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  21. zuul

    The chorus on twitter of “b-b-but Bullard doesn’t vote” is exactly what this market needs.

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  22. newbalance

    trashing..wanting..needing to go higher..

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  23. surplusdroids

    The buy robots are hungry. The first battle is won.
    Now, what will they do with their newly acquired “inventory”?

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  24. bruce keller

    Called it on the QE3 will just be extended instead of QE4 officially.

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  25. juice

    relief rally until Gartman changes back to boolish

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