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
20,420 Blog Posts

The Market Sucks, Unbelievably Bad

Thank you for your interest in the new ibc peanut gallery. Your applications will be thoroughly examined by the board of directors and we will conduct thorough backround checks, even visit you while you sleep to rifle through your personal belongings to see if you’re a good match.

I see the market is down just a little bit. But, once again, there is an indescribable evil in this tape, one that I haven’t seen in some time. Naturally, I had foreseen such an event and raised some cash, made COST my largest holding. But even I can’t escape the horrors of this grinder. With positions in SHAK, TWTR and XON, I am not enjoying today’s tape.

A lot of people compare today to 1998. That’s great. The only problem with 1998, for those who traded it, is that it sucked. I lost my first stockbroker job in ’98, being an early investor in internet stocks. No one liked internet stocks back then and I got hammered into pieces. I wrote about my life story in three parts, here.

The Fed is most likely interested in bankrupting some bad actors with their rate hikes. I see no other reason why they’d be so foolish as to tighten now, during the most fucked up part of this little recovery we find ourselves in. Tread carefully and remember that 1998 was not as cool as the charts said they were. It was 1999 that kicked ass, made short sellers regret the day their idiot Fathers took Mom to the movies.

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8 comments

  1. blahblahblah

    most boring Thursday of 2015. P-ackman VRX news try to buy the dip and VRX goes from 104 right back to 110 in a blink. *yawn

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  2. UncleBuccs

    Dr. Fly – are the extra vetting measures of prospective Peanut Gallery bloggers an attempt to prevent another murderer from blogging for iBC? That’s going to be a hard thing to screen for…

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  3. razorsedge

    Look in to by kmi chk Got it pal! I don’t need friends I need ideas. (Good ideas)

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  4. jacked rabbit

    I bet Lagone’s got a trap phone.

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  5. razorsedge

    Vrx. Sucks

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  6. razorsedge

    Express scripts is the nail in the coffin?vrx

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  7. blahblahblah

    bought SBUX at 60.90 love the house blend

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  8. coganj

    I have a problem with all the 1998 comparisons too because the Shanghai exchange didn’t even exist and it sure is having a lot of influence now.

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