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
17,094 Blog Posts

FLYNN TO TESTIFY AGAINST TRUMP; MARKETS CASCADE LOWER ON HEAVY VOLUME

A wave of sellers smashed through the market over the past few minutes on news that Gen. Flynn will testify against President Trump, claiming that the President ordered him to speak to the Russians. Whether this is a big deal or not is somewhat immaterial. The fact that they lied about it is what’s important. While we do not know the extent of the damage this will do to the President, it is a woeful development — one that could lead to the resignation or impeachment of Trump.

For months, I’ve been hearing from DC circles that by December Trump would be out. Coincidentally, on 12/1/17, this news hits. I am of the belief those in the know were aware of this testimony, which is why Trump’s agenda has been placed on hold.

For markets, this is ruinous, as it adds a great amount of uncertainty. I do not expect Trumpsters to take this lying down and this might very well spark mass protests on both sides of the aisle.

The Dow is off by more than 200, Nasdaq -100.

For me, this changes everything about the market. As such, I sold out of VERI and VUZI, two of my more volatile names and bought more UVXY. This is a quadruple down on my VIX trade, one fully endorsed by The Devil, who said to me yesterday he thought UVXY could hit $120. That is not a typo. We discussed this in Exodus yesterday.

It’s over Trumptards. The day of the rope beckons and the end game is near. Deep statefags win again.

Unrelated: I made changes in my quant account, which is in the $1-5b quintile.

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98 comments

  1. acehood

    ATH’s within a week.

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  2. WrongView

    “A good man” a “wonderful man”

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  3. traderconfessions

    Think HRC is laughing much? Lock him up…

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    • derp

      What was the crime?

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    • jmac

      The “what about Hillary” comments are just as annoying when they’re used to gloat as they are when they’re used to deflect from Trump’s bullshit. Trump and his circle being found guilty doesn’t mean Hillary is clean, or the other way around.

      That said, Donny is in deep shit here, Flynn looks like he got a sweetheart deal, and there’s only one reason Mueller would do that.

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  4. WrongView

    It’s not a happy time for the country.

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    • Dr. Fly

      Quit being melodramatic.

      The crime isn’t crazy, talking to the Russians isn’t a big deal. They lied, which is stupid, but again, not treason.

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      • traderconfessions

        Talking out of your ass as usual. You have no idea what Flynn told Mueller about Trump. Clinton was impeached for lying about a blowjob. Kushner is now toast. Lock him up!

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        • sarcrilege

          Such bullshit. Again. The fake ‘impeachment’ of Clinton was to extort him into approving an illegal bombing of Serbia & massacre of civilians, something he was against. After Clinton agreed to the slaughter of civilians, he was ‘acquitted’ and allowed to continue banging under-age girls on pedophile (((Epstein’s))) Lolita Express.

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      • Cricket

        I agree. It’s not a happy time for the country. The criminals in Washington are playing with fire. Things are very delicate in the shires, and this has the potential to rip the country apart.

        The Russians had no significant impact on the outcome of the election, that is obvious. Even Feinstein et al have stated this fact. But the Russians are firmly in the driver’s seat now and they are doing everything in their power to drive this bus off the cliff.

        When you consider the deep ties of Mueller, Rosenstein, Podesta and Bill and Hillary Clinton to Putin’s Uranium One (allegedly $145 million in payments to the Clinton Foundation plus Bill’s $500,000 speaking engagement in Russia, Rosenstein involved in the cover up as US Attorney in Maryland and Mueller hand carrying yellow cake to Moscow – not to mention gagging informants under his FBI) there is no doubt that the Russians are in full control right now. And their stooges in Washington (and the national Fake New Press) are using the unlimited resources of the US taxpayer to do it.

        This oh-so-obvious corruption at the highest levels of government is destroying the faith of the population in their system of governance. This is the only thing that could possibly bring down the dollar – a collapse in confidence. It’s accelerating.

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  5. stocksnblondes

    This is ultimately good news. As much as I wanted to believe in his drain the swamp manta, Trump has proven to be a complete dimwit that is mentally unfit for office. Assuming Pence has clean hands, he will be a vast improvement and good for the markets.

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  6. og

    It’s always the lie that gets you. Idiots.

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    • numbersgame

      When Trump was campaigning, I estiamted his IQ at 120 or so. It didn’t take long for me to realize Bannon was the brains (130+), while Trump is more like 90/95. Anyone else remember Dan Quayle?

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      • bob smith

        I initially estimated Bush II to have an IQ in the average range but grossly overestimated it. Also, noteworthy is that IQ doesn’t protect you from delusional arrogance (Clintons) or insanity (Manson).

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  7. Dr. Fly

    This is not good news, for stocks.

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  8. WrongView

    I’ll give it a rest, after saying it’s amazing what you are willing to dismiss as no big deal and the stupid, conspiracy theory crap you get all frothy about.

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    • Dr. Fly

      If you have an issue with a topic, fine, but the ad hominem attacks on ZPN are ridiculous. He has a different world view than yours — big deal.

      Either debate the merits of your argument about a specific topic, or just accept there are people who disagree with you and move on.

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      • WrongView

        You are right. Apologies to ZPN. In my defense I do try to read his stuff, I look at his sources, etc. I’ve never found it at all compelling. In fact it seems so cynically slanted that it blows my mind. Generally I try to ignore it, but every once in a while I just can’t stand it anymore. I’ll try to keep my yap shut about it.

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        • jerkchicken

          Thanks for correcting the record.

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        • zeropointnow

          Hey – I’m always open to a counter argument and better information. If you’ve got something to refute what I’m putting out, throw it back at me and we can debate it.

          Just keep in mind that I’m never wrong and I think it’ll clear a lot of things up. /s

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      • derp

        Who the fuck gave you fake news votes

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    • Dr. Fly

      Whether I think the crime is ‘bad’ or not isn’t material, like I said. I know DC will chimp out over it and use it against Trump, so yeah, it’s a big deal.

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  9. ferd

    If, as rumored, Trump was going to appoint Pompeo as Sec of State, hopefully this will instead keep the relatively sane guy in that office.

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    • numbersgame

      Tillerson laughed at the the rumors. IE, “FU Trump. You want me out, get some balls and say it to my face.”

      Trump is so weak. Remember how he railed on Sessions, then Sessions said he’s staying and now not a peep as Trump’s potential legal liabilities creep up.

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      • infinitezuul

        You are so much smarter and stronger than Trump. That’s why you have more money than him.

        If you have any time between your huge deals, please give us more insight. Wisdom like yours is hard to find these days.

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  10. juice

    Senator Joe McCarthy is laughing in his grave.

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  11. Cricket

    Well as Ralph Carpenter once said: “It ain’t over until the fat (Clinton) lady sings …”

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  12. ironbird

    lol. Douche bag alert in the hallowed halls. Get THAT cock out of your mouths long enough to breath. Psycho libtards.

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  13. pb

    The Devil is wrong, and not because markets won’t decline. They most certainly will. Take the time to work through the actual math involved in both the VIX and its derivatives…

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    • joyous__ending

      You are Correcto mundo.
      Waiting for a VIX spike is a highly improbable trade.
      Waiting for a VIX implosion is a much higher and easily timed trade.

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    • J Adabese (your pen pal)
      J Adabese (your pen pal)

      The Devils analysis is based less on VIX, but mostly on the yuge short position in UVXY which will explode on continued market volatility.

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  14. juice

    “So the candidate who campaigned on a platform of getting along with Russia did indeed want to get along with Russia. The fact that he needed Flynn to negotiate de-escalations with them kinda kills the narrative that he’d been colluding with them to steal the election, though.”

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  15. bennyhill

    “For months, I’ve been hearing from DC circles that by December Trump would be out.”

    You heard that from me first a year ago, go check. #TIMESTAMP

    This is way bigger than you think, and ditto on the fact that you get you panties in a bunch over fake news but think this isn’t likely treason. Donny’s done.

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    • derp

      What was the crime?

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      • numbersgame

        Obstruction of Justice is the easy one to prosecute. Treason is the real one, but that is ahrd to prove.

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      • sarcrilege

        Flynn will be Martha Stewarted for talking to FBI.

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        • Cricket

          If the FBI comes knocking for an interview, can’t one just reply ‘yes I’d be happy to attend an interview, but I am informing you in advance that each and every question will be not be answered under the protection of the fifth amendment’. How can one be compelled to answer anything? Does the fifth not apply to the FBI? If you don’t answer, how can you be caught in a lie?

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          • numbersgame

            “nor shall be compelled in any criminal case to be a witness against himsel”

            The fifth protects you from **self**-incrimination. You cannot refuse to answer. You can request an attorney and talk to him/her before answering every question, and you can say, “I don’t recall/remember.”

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      • juice

        http://archive.is/ZQxxR#selection-1483.322-1495.45

        “Communications, including meetings, between representatives of US presidents-elect and foreign capitals, particularly Moscow, have been “common practice” over the years, according to Jack Matlock, ambassador to Russia for Presidents Reagan and Bush; Matlock had previously arranged meetings in Moscow for President-elect Carter’s transition team. Moreover, Obama’s own Russia adviser, Michael McFaul, told The Washington Post recently that he visited Moscow in 2008, even before that year’s election, for talks with Russian officials. The Post implied that this was “appropriate contact.” “

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        • bennyhill

          Except their government made huge efforts to swayed the election all the while Trump knoew about the communications and lied about it. If that’s not a red flag, you’re as drumpf as a skunk.

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        • numbersgame

          Juice, try and keep up. Flynn pleaded guilty to lying to FBI, not to Russain conclusion or treason.

          Meetings with Russians were proven about a year ago. If that was a crime in itself, half of Trump’s closest advisors would already be in jail.

          Meeting with Russians is not a crime, but is potential evidence of a crime. It all depends on what was said, whcih is the reason for the Mueller investigation.

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          • juice

            The reason for the Mueller investigation is that Hillary, i.e. the Deep State lost the election. period.

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  16. sarcrilege

    If Flynn is a military man with honor, he will throw the deep state under the bus at trial. Otherwise, this guy has no backbone.

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    • numbersgame

      He pleaded guilty to protect his son from prosecution and because he knows he will probably get no prison time anyway.

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      • sarcrilege

        And if Trump has any backbone in his fat body, he will pardon Flynn no later than one minute after the verdict is read, just for dicks and giggles.

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        • Cricket

          It won’t be the first time. Dig this excerpt from Wikipedia:

          “Attorney General Eric Holder appointed (Rod) Rosenstein to prosecute General James Cartwright, a former Vice Chairman of the Joint Chiefs of Staff, for leaking to reporters. Rosenstein’s aggressive prosecution secured a guilty plea from Cartwright, who was ultimately pardoned by President Barack Obama.”

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          • numbersgame

            Generals don’t go to jail, unless they are tried at the Hague for war crimes

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  17. ferd

    Fucking Russians!
    – They tried to discourage us from invading Iraq
    – They warned us about getting bogged down in Afghanistan
    – They tried to give us an out when we bumbled into Syria
    – The didn’t support us in our Libya overthrow
    If listening to that kind of talk is treason, I wish Trump was a traitor. Unfortunately, he appears to be the conventional kind of traitor.

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  18. joyous__ending

    >For months, I’ve been hearing from DC circles that by December Trump would be out.
    Spare me you don’t have any real sources in DC.

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  19. numbersgame

    I other news, I just watched 52 Republican Senators on CSPAN all vote against an amendment to change the carried interest provisions. Will have to read the Amendment text later. If it is “clean,’ bookmark this, as that will be a hard vote to hide from in 2018, regardless of how the overall tax bill is viewed.

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  20. t.c.

    They key date in question for Flynn/Russia meeting was December 29th, 2016. This was all after the election?

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    • insp cluso to you
      insp cluso to you

      Are you that stupid? In his statement he admitted “acting with Russia under orders from a TOP CAMPAIGN OFFICIAL.”

      Now go back and watch Faux and Fiends…

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      • t.c.

        The date is correct, this all occurred after the election and right before the inauguration.

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        • insp cluso to you
          insp cluso to you

          ZH Headline now:

          Michael Flynn promised “full cooperation to the Mueller team” and is prepared to testify that as a candidate, Donald Trump “directed him to make contact with the Russians.”

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  21. ironturd

    drip fizz hmny and if Trumpfam getting effed is a big nothing burger? lol uctt?

    Happy Friday iBagholders

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  22. mushroomz

    Mad Max stilt walker through the swamp formation on the $XIV daily chart

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  23. cancel19

    The Golden Showering Russian Girls told me to BTMFD!

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  24. roundwego

    Kushner looks tobe the fallguy.

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  25. stocksnblondes

    UVXY — the graveyard of bears.

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  26. insp cluso to you
    insp cluso to you

    Alt-suckers running around like ******snowflakes*****

    Or, “I love the uneducated!”

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  27. whaler31

    The Fly is rearing his ugly commie head for clicks today-hence the comment section is full.

    Trump’s not going anywhere.

    Flynn story is a big nothing burger, and the market figured that out, recovering nearly all it’s losses by the close.

    The timing of the announcement was designed to take tax reform and other good Trump news off the front page, and wipe the bad Democrat news on Kate Steinle and Matt Lauer, off them as well.

    The DOW will be 30,000 in a few months.

    They have nothing on Trump, read a legal analysis on it here:

    http://www.nationalreview.com/article/454269/michael-flynn-plea-no-breakthrough-russia-investigation

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    • numbersgame

      whaler, you and the national review are looking under the wrong stone. They are probably right in their logic that the Mueller investigation is having trouble proving treason/collusion – whether it happened or not.

      However, Trump is sketchy, unethical, paranoid, and not very bright
      1) sketchy and unethical: he probably has some illegal business deals prior to even running for President.
      2) paranoid: he is afraid that Mueller will dig up these business deals
      3) not very bright: he is trying to block Mueller at every turn, and doing so in a clumsy manner, walking right into an “Obstruction of Justice” charge

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    • ironturd

      Trump going or not going anywhere doesn’t matter. The fundamentals of the global economy are rock solid. A correction in the market would be healthy and good for more mom and pops to get more involved, but anything more than a correction is off the table until there’s an actual financial crisis. Years off.

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  28. ironturd

    Top of Bitcoin, bottom of UVXY, HMNY turding like a busted science project. Exodus free trials right around the corner.

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    • numbersgame

      Does this mean that you think Bitcoin will continue rising, UVXY and HMNY will continue falling? If not, what was the point of your post?

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  29. fryguy15

    Holy shit! The freaks really came out today. Haven’t seen this many comments in a while.

    You all really think that Dems and Republican are on different sides??! LOL. There are no surprises. Everything is arranged. 10D chess.

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  30. fryguy15

    And why the fuck are people even bringing up Hilary? She’s old news and you people are still sucking her dick. Talk about salty.

    The stupid, it burns.

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  31. Dr. Fly

    It’s fun watching losers punch themselves in the face on the internets. This is why I blog here and trigger you emotionally unstable folks into saying dumb things.

    Continue.

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