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Trading with The Fly

Dr. Fly
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
23,443 Blog Posts

No Sense Hanging Around, Waiting For the World To End

Dr. Fly Thu Jun 11, 2015 3:53pm EST 20 Comments

I might as well profit from it.

I started two large positions, one in XLU (utilities) and another in GDX (gold miners). I know, gold is fucking so retarded and I still hope all of the gold miners fall into deep crevasses and perish under volcano ash. Nevertheless, I do believe the stupid alien metal is set to bounce soon.

My whole thesis revolves around the idea that rates will resume lower; therefore providing a bounce in XLU and other rate sensitive areas. The GDX pledge is almost a haphazard hedge against XLU, something that I’d never do unless desperate to allocate dollars.

Cash is now around 15-20%.

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20 comments

  1. matt_bear
    matt_bear
    June 11, 2015 at 3:54 pm

    i can’t believe you just bought GDX. That sound you hear is the record screeching to a stop.

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  2. matt_bear
    matt_bear
    June 11, 2015 at 3:55 pm

    positions heavy in cash and gold. you morphed into a bug in 1 trading day.

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  3. heckler
    heckler
    June 11, 2015 at 4:01 pm

    ETFs and gold – the world must really be ending. Kinda extra glad I lightened up

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  4. Option Addict
    Option Addict
    June 11, 2015 at 4:08 pm

    Unreal.

    I’m over here buying more DickSKY whilst everyone buys gold and cash.

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  5. jacked rabbit
    jacked rabbit
    June 11, 2015 at 4:10 pm

    Now watch us rocket – the fuck – higher.

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  6. gorby
    gorby
    June 11, 2015 at 4:11 pm

    Going all plain Jane are ya. No worries.
    You will be bored soon enough.

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  7. it is showtime
    it is showtime
    June 11, 2015 at 4:15 pm

    Greek dinner takeout. For the 2nd open pump attempt failure

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  8. cheese
    cheese
    June 11, 2015 at 5:12 pm

    Exodus stats look golden…..

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  9. pyromonoxide
    pyromonoxide
    June 11, 2015 at 5:23 pm

    Gold? Wow. +1 for Agility. It is not the strongest or the smartest, but the most adaptable to change.

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  10. twister
    twister
    June 11, 2015 at 6:46 pm

    So true

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  11. ironbird
    ironbird
    June 11, 2015 at 9:34 pm

    When the burritos go crazy it has been a good sign the tape is about to tank in the past few years. That was also one hell of a rip today in TLT. On “great” “gangbuster” retail sales. lol

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  12. gappingandyapping
    gappingandyapping
    June 11, 2015 at 9:58 pm

    What’s everyone worried about? I am going cock on the block short bonds. Been working well. Also long some Twatter.

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  13. moosh
    moosh
    June 11, 2015 at 11:13 pm

    I like the idea of banking coin taking a small % of my killings and betting them on a non issue rate hike vs a H&S oversold break on gold hedge trade. Nice work sir le fly.

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  14. traderconfessions
    traderconfessions
    June 12, 2015 at 9:58 am

    While you folks debate rate hikes and gold buggery I’m going fishing on Gardiner’s Bay before all the assholes descend on East Hampton and ruin my weekend.

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