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
23,446 Blog Posts

How Are We Doing?

I’ve been real busy trying to crush the hopes and dreams of VC backed finance sites with iBankCoin. During the past two weeks, I’ve been intently focused on providing up to the minute news and commentary, working 20 hours days to separate Ibc from the nonsense and rabble that perpetrate financial relevancy thru their bullshit and useless websites filled with complete shit.

Hopefully, you’ve took precautions entering 2016. I’ve been a buyer of SPY over the past week, while holding a large position in TLT. Having sold out from 30+ positions the last week of 2015, anticipating the hard times to come, I’d like to consider myself to be an unbelievable prophet, a predictor of doom, amidst a sea of pretenders, catamites and the sort.

To be clear, I’ve consumed anywhere from 5-15 dirty martinis, so pardon me if I offend you with amateurish dialogue or grammar.

I believe the market will rise over the next two weeks, which will explain my 200% long SPY position into death. I do not belive, however, that now is a good time to buy individual stocks- hoping to hit pay dirt.

These are dark days and losses should be taken swiftly. Over the next week, whether I like it or not, I’ll be selling out from my SPY positions, while also keeping my TLT. I have zero desire to own individual stocks, at all, something I’ve never done since managing money, professionally, since 1997.

If you have any questions about the market or your bullshit portfolios, leave them in the comments section before I get into Sunday evening news mode– waiting for Asian markets to open.

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57 comments

  1. aformalcat

    Excuse me but has oil bottomed sir?

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  2. firehorsecaper

    Saudi Arabia down 6.5% Sunday
    on Iran sanction lift, i.e. Implications for oil near term

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    • frog

      Certainly the Iran sanction lift was expected to happen. Could be a Sell the (bad) rumor; buy the (bad) news situation. Or not. I’m not generally a follower of commodities. But the current situation is making everyone start to look at commodities.

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      • frog

        The Saudi Arabian market itself does not influence the U.S. stock market, like Europe or China does. But the price of oil does influence the U.S. market, of course.

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    • Dr. Fly

      Hammered

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  3. CF4

    You have been bearish on energy/materials names for so long (and made great calls on the likes of CMG), but why didn’t you play on the short side? Do you intend to take short positions this year?

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  4. danny1980

    He will start short positions Im sure. Just not when every indicator know to mankind is indicating extreme oversold conditions.

    He wants to unload SPY into a rip your face off rally. Just like most of us are position for. Problem is every minscuel bounce is being sold the next day with zero follow thru.

    Once the bounce comes a lot of folk will start buying up TLT, positioning short and buying bearish ETF’s. If that bounce doesn’t come which would be completely abnormal- most of us will be chewing on our blistered taints and eating our loses with Crystal River hot sauce

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  5. lesurgeon

    Here’s a question: Can we get Macke to slip onto the CNBC set and tell the masses about our time machine?

    My real question comes later.

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  6. kevin3210

    What do you think of $GOOGL for next two
    Weeks ?

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  7. grandmaster

    Asking with a 10-year time horizon – thoughts on $FB and $PSX. Retirement stuffers…

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  8. zheeeem

    So if the market keeps going down like this, I estimate that in about 3 weeks I’ll need to sell my wife into prostitution. Would it be a good investment to use my last remaining dollars to buy her a boob job?

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  9. Earl

    Robo-advisors?( i.e. Betterment, Wealthfront) A low cost, long term investment solution for the unwashed or a lazy-minded, misguided approach only for robot loving layabouts content with un-alpha like returns?

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  10. gorby

    Your no good to us dead.Get some rest.

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  11. blahblahblah

    $AMZN

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  12. bruce keller

    The talk of no end to this decline is nice. There’s still a few bottom callers unfortunately. At least one is Buffett, who bought at least $200 million of PSX last week around $75-$76. He may be a long term investor, but I doubt he buys right before plunges too often.

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  13. Dr. Fly

    I was entreated to an 8am unannounced visitor this morning, who found my address via Google. He’s literally crazy. Fun times.

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  14. ammy hour

    WETF has been hammered. Over done? Same for BX actually.

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  15. ahadbi

    Thoughts on gold miners ?

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  16. goose20

    KMI CBI?

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  17. dishobgyn

    buying AAPL here?

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  18. just_say_n

    Senior Fly . . . long or short-term thoughts on $AAPL?

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  19. cali24dog

    Your thoughts on QCOM at the current quotation?

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  20. levrage

    If your broker is publicly traded, short it; it’s like a rebate.

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  21. doubleplus

    Are we close to “Death to Stocks,” or are you waiting for a particular level?

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  22. mackypinky

    Can I still buy TED spread?

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  23. margin call

    Fly, how low do you think the S&P ultimately goes before we get a sustained recovery?

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  24. jonny

    Less is more.

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  25. helicopter ben

    Trump or Sanders?

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  26. frog

    I am reading that U.S. stocks don’t necessarily decline, historically, when commodities decline, nor when China slows down or their market declines. I expect someone with some charting software can plot that out & see if that is really the case.

    I guess when stocks are crashing and the Fed says they are going to keep hiking rates, stocks maybe usually do decline then, especially if valuations were high before the decline began.

    So perhaps all we have here is Fed Popping a Bubble That They Previously Created pattern.

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  27. tdroesch

    SUNE, FEYE

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  28. steak

    This year has been annoying thus far. IBC, however, has been en fuego. Appreciate the coverage, Fly.

    I feel as though we’re approaching a short term bottom in WTI, around $28.00. Though, on some level I do agree that we may go lower in the mid term. In the physical trading realm, jet fuel is trading in bulk markets at less than 90 cts per gallon in NY/NJ. Truly stunning how cheap refined products have become. Makes me want to put on a pairs trade, short Delta vs another airline… but who knows. At this point, I’m now down almost 3%, levered up via SPY call options, waiting for a rally this week. Being levered long over the long weekend is the hardest [mentally] position I’ve owned in, literally, 2-3 years.

    This market blows.

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  29. moosh

    Who is on who’s side on the coming war?

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    • moosh

      By who I meant our, but your take on the main players will suffice. Thanks

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