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
17,003 Blog Posts

Today’s Harsh Sell Off in Base Metals Means Absolutely Nothing At All

Make believe it isn’t happening. Actually, I find that when I am losing vast sums of money, like now, when I close my eyes and think of swimming in the ocean amidst the coral and the starfish, my losses aren’t that bad after all. Currently, my position of 160% long into the teeth of an acrimonious, primordial even, drawdown in stocks like $TECK, $HBM and $TGB have taught me nothing but to appreciate the candor by which the market expresses itself.

Granted, in this case, she’s expressing herself by cocking a pistol and firing it into my groin — with the hopes of gravely wounding me. Lucky for me, I have, virtually, unlimited resources and the patience of a fucking pirate skeleton.

Trust me, I’d much rather talk about my losses and how they mean nothing at all than General Flynn and the 9-d chess game Trump is playing with the mayne stream meteor.

Basic resources have collapsed today, for no reason other than to sell off. The market ebbs and flows. At the present, it’s flowing… with the effervescent joy of 10,000 margin calls (you thought I’d say blood, didn’t you?).

When I was a young stock broker, cold calling for dollars, I had a margin call clerk named ‘Felicia.’ She was a fucking brute and a bitch. She had zero regards for my financial well being. As a matter of fact, I believe she enjoyed liquidating accounts, especially if they were negative equity. I am certain some of you young advisors in the business get to enjoy your own Felicias today — cold hearted black soul bitches who’ve been placed on the earth to make the lives of well meaning, good looking, rich men, tumultuous.

Well, I’m older now, smarter, and significantly uglier, but with a lot more money. Margin calls aren’t an issue for me now, as I have, what some might call, ‘permanent capital.’

(Jesus Christ, the hubris of this article is outrageous!)

The sell off should be embraced by all. Stocks like $ROCK should be purchased using one’s cock as collateral (I’m a poet and didn’t even know it).

Top picks: $TECK, $CLF, $UEC, $HBM

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12 comments

  1. wisprjet

    I’ve been playing $ROCK like a fine fiddle this year. Bot again today. $TECK short and naked shorts, I believe is what happened the past couple of days. Long $TECK. Sorry you’re getting hammered, but I do appreciate the article, as well as your “interview” on the previous post.

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  2. uglyflint

    TGB was supposed to be a monster some 10 years ago. Then they got totally fucked over by some EPA zoning shit if I remember correctly.

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  3. anjingbauwau

    HBM earnings on the 22nd……

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  4. mr.wiggles

    I bought $CLF today.

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  5. rangersfan

    me too

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  6. shmeet

    Fly your hilarious.
    have a good weekend cheers.

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  7. southernjam

    I ruptured my spleen reading this.

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  8. dragun

    Funny how a 30K/year margin clerk can wreak havoc on HNw and hedgies. They wait and live to make those calls.

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  9. bood

    even if liquidation/correction comes later in April or so
    I started selling

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