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
19,524 Blog Posts

I AM NOT IMPRESSED WITH THIS MARKET, NOT IN THE LEAST

You go ahead and buy it. Buy all you want. Tell your friends, neighbors and parents to buy stocks, I will not even think about adding to my positions when oil is COLLAPSING (extra Faber) like this. I’ve already had my fill with bonehead trades, fantasies made from sugar and gunpowder, and it has resulted in nothing but pure agony.

This profession of mine can be rewarding, almost enriching at times. I get to learn about new businesses, about how they work and profit. Most of the time I set out a plan, a really good strategy that will make me some money. I go out into the market and buy up a bunch of stock. Other people walk around aimlessly, tripping into water fountains and drowning in cups of Fanta, but not me. I have a plan and the plan usually works.

Last year this plan netted me an 80% return. I was quite happy back then; now, I am quite fucking mad.

All of my plans are shit–they’re not working. I say this to you with less than 10% of my assets in oil. It isn’t oil that has me vexed, but the whole process of being kicked down the stairs, each and every time I attempt to climb to the top.

Having said that, oil is dropping too fast. You’d be smart to hold off on new buys until it stabilized.

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14 comments

  1. Trent J

    You are much more experienced in this game than I, and I hate that you have these sorts of losses, believe me. But, it feels better to know a season pro is having a rough year also. I do however feel like the stock gawds have our back next year.

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  2. qeinfinity

    Nothing is working indeud. This does not feel like a bull market, and certainly not one that is just barely off all time highs. Perhaps it’s time for Horatio Clawhammer to return to the market?

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  3. jdf

    Oil will keep going down. Vlad needs to be punished. The Saudis are more or less or our side. The glut will continue – this is open economic warfare.

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  4. BlueStar: Contrarian Investor
    BlueStar: Contrarian Investor

    I don’t have a friend that manages Money that is having a good year. No one. The indexes are being pinned so that distribution can occur. We don’t want to alarm mom and pop until we want to buy their shares at the bottom. This game is so awful….but I love it.

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  5. Trent J

    I would just like go back to making the money of a surgeon instead of the money of a fucking janitor. Not that there is anything wrong with either – I just personally prefer the first.

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  6. bruce keller

    Woah, dat $VSLR though.

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  7. the profit

    This is the year for dumb trades. Obvious trades. If you tried to be clever and smart, you got burned.

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  8. traderconfessions
    traderconfessions

    It’s a stock pickers market right now. You are picking the wrong stocks. Or a least your timing stinks. Welcome aboard.

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    • BlueStar: Contrarian Investor
      BlueStar: Contrarian Investor

      Worst year for active managers in decades. This is a macro central banker market.

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  9. pfdaly

    This has been annus horribilis for me (extra anus). If things don’t go my way in the next 2 wks you will henceforth know me as Bob fucking Cratchit.

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  10. zheeeem

    I buy stocks that have gone down. So far, it has worked. All my stocks are down.

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