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
23,417 Blog Posts

GET OUT THERE AND FIGHT YOU NO GOOD ROTTEN PUNK

Some of you are so mentally deranged, you attempt to post comments each and every day, despite being banned from doing so, as if you were talking to yourselves. I see your comments in the moderation pile and I urinate on them, as I chew on beefed jerky. I am ever so sorry to disappoint you, but I saw this decline coming. I know it pains you to know and see that I’ve been 50% cash for more than a week, with GG being my top holding. Don’t worry, fucked face, I am sure I will make a few errors upon my reentry into the markets.

At the bell, I sold out of my GG position, putting my cash position at recent record highs. Despite my belief that the market will turn up soon, I erred on the side of caution, after seeing the market cascade lower into the bell. I still have one gold stock, EGO, which I intend to hold a little bit longer.

All of my other positions were castrated, like yours. It was an awful day and a sad day for those drinking NASDAQIRIS. I have a mind for this sort of tape and it takes a lot of patience and quick wits to catch an inflection point.

It was a 90% down day, indicative of margin selling, panic and despair.

Given all of the news, is it possible we are entering a new bear market?

Sure, why not?

But nothing goes up in a line, nor down. Recall how the oil stocks bounced off the concrete earlier this year, luring a fresh set of canaille into their shares. I believe, at a minimum, we are overdue for an oversold bounce. If you believe the market dynamics have changed and the economic conditions dictate that stocks should trade lower over the foreseeable future, sell short or liquidate after the coming bounce.

Ideally, we gap lower tomorrow morning and reverse higher into the bell. That would set up for a pleasant afternoon and sublime change of pace into the weekend. I’ll post more later on tonight, after I had time to fully absurd todays fuckery.

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26 comments

  1. Steve

    McClellan is a pimp.

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    • frog

      Why McClellan? Is he doing worse than the other newsletter prognosticators lately? Most of them would do better flipping a coin.

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      • Steve

        He pretty much nailed it to the day. Not that it was difficult to forecast. Fucking cha-ching!! 2nd best day of the year for me.

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        • frog

          Nice that he’s right sometimes. Coin flip is correct 50% of the time.

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          • Steve

            It would be like him flipping a coin, naming which state is on the coin, and the year it was minted.

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  2. juice

    overseas fuckery will continue homeland fuckery setting us up for black-hole gap-down friday which may indeed carry over the weekend unless the powers that bee can summon some legerdemain over a weekend panic session but me thinks they’re outta bullets , just ask the BlueStarred One

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  3. UncleBuccs

    We’re not even boxing here, Dr. Fly. Mickey still has us chasing chickens….

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  4. jonny

    ” I see your comments in the moderation pile and I urinate on them.”

    Too kind.

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  5. dewey dortmunder
    dewey dortmunder

    I can envision your gap lower tomorrow then reverse higher into the bell thesis. If, however, it gaps lower and stays lower wouldn’t that set up a very special shit sandwich Monday?

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  6. it is showtime

    Game of chicken Tomorrow

    Who blinks

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  7. og

    At least you never pulled the trigger on SHAK. Shit sandwich.

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  8. blahblahblah

    um..comment boards are the very essence of *talking to yourself

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  9. zheeeem

    It would be outstanding if someone could drop a very large piano on Kevin O’Leary.

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  10. sethster99

    UVXY and DWTI till it all ends. Then guns and ammo.

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  11. vandamme

    We’re all going to die!

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  12. mikeaboca

    hey dumbass listen to your own advice

    buy TLT in August never goes down ( i am quoting you from August 2014)

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    • Dr. Fly

      I bought GG and made 15% you fucking dipshit homo hammer

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      • mikeaboca

        so august 2014 when i bought tlt i should have bought gg instead at 25.00 you dumbass guido

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  13. woj

    Not sure how $SFLY has not been scooped up by someone. Would fit into GOOGL, AAPL, AMZN, FB, you name it. Cheap at just over 1x sales.

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  14. vampyr

    By the way: “Cut me Mick. Cut me.”

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  15. alf44

    .

    Could it possibly be time ?

    Time to be …

    Shorter Than Verne Troyer !!!

    .

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