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
18,108 Blog Posts

Slowly Moving to Cash, Very Quietly

A little FYI for you ball handlers out there, I’m doing the very last of free trials this week for Exodus and might never give you folks a free trial again, for as long as I live. Point in fact, once my advisory firm is up and running, I might just take Exodus under and private — casting all of you out into the cold dirt to lament and wonder about the future.

I sold out of GROW today for a 3 day 23% gain. Also, I sold WLK for the hundy roll that I promised.

Over the next two weeks, volume will crawl to a standstill and people will begin getting drunk — in earnest — instead busy with shopping for presents and end of year festivities. I expect markets to CRASH through the floorboards starting January, as a penance of sort of a certain D.J. Trump for bragging about its never-ending gains, in light of his ruinous first year in office. I intend to keep blogging like the wind; but I have to go now because I am going to see an early showing of Star Wars this evening.

UPDATE: I sold XNET for +20%.

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20 comments

  1. dragun

    LOL .. your OSC must have quite the radar. Just went 33% cash this pm on the leveraged portfolio. Keeping an eye on the rest.

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  2. it is showtime

    They’ve set it up to revert back on his watch
    As i said had probability early last december
    And within days of election day

    Not that it, or they, could have done it anyway
    But now you have 6000 dow with a cherry
    The 6000 dow was organic?

    “Really”?

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  3. joyous__ending

    Litecoin and Ethereum peaked, selling off….short term? Maybe. Also moving to cash from LTH, ETH.

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    • bushwacker2

      More than tripled my money in Ripple in less than a week. From .24 to .85 now. We don’t need no stinking cash.

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      • Marc David

        Congrats! I had my eye on that at .26 But wasn’t able to get into Kraken fast enough or get verified. I think this one looks good long term into 2018. Are you still holding or are you out?

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        • bushwacker2

          Still holding. It’s all “free” money since I rolled some of my ETH profits into Ripple (XRP). This is the next big winner; and still less than $1. It’s now the fourth largest crypto by market cap…$31B and counting. Still early. Get you some!

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          • bushwacker2

            I’ve stopped trading stocks and put them into QQQ, XLF and IWM to focus more on following cryptos. Look at this as the beginnings of a once in a generation opportunity.

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          • mongoosereflexes

            So everybody will be reporting these crypto gains to the IRS right?

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          • joyous__ending

            >So everybody will be reporting these crypto gains to the IRS right?
            Folks better plan on it and have the money available for taxes. In 2000 the IRS audited me for trades in the wild, wild 1999 year (only time in my life been audited). In those days the online brokers did not have the tax tools they have today, same for Turbo Tax. For hours, I sat opposite an IRS agent who had no soul, no heart, no brain, total robot, no style. He would say over and over the same thing “I need your statements for XXXX shares sold of such and such”. The dude’s job was all about one thing, finding a mistake so he could bring a couple extra bucks to the treasury and look good to his boss.
            The IRS does not mess around, do not challenge them with shabby crypto reporting.

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          • joyous__ending

            >So everybody will be reporting these crypto gains to the IRS right?
            Folks better plan on it and have the money available for taxes. In 2000 the IRS audited me for trades in the wild, wild 1999 year (only time in my life been audited). In those days the online brokers did not have the tax tools they have today, same for Turbo Tax. For hours, I sat opposite an IRS agent who had no soul, no heart, no brain, total robot, no style. He would say over and over the same thing “I need your statements for XXXX shares sold of such and such”. The dude’s job was all about one thing, finding a mistake so he could bring a couple extra bucks to the treasury and look good to his boss.
            The IRS does not mess around, do not challenge them with shabby crypto reporting.

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          • bob smith

            Yeah, I hear all these “stories” about gains in cripto land (my shoe-shine boy has lots of them). How about posting losses?

            Just like in the casino… people brag about their winnings but neglect to mention their losses.

            Post your P/L for the year and I’ll pay attention. Otherwise, get lost.

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  4. MSGT HARTMAN

    When you’re this late to the party, you get nothing but the bottom of a keg and the two ugly cousins on the couch.

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    • Dr. Fly

      PASSIVE INVESTORS WILL BE KILLED IN 2018

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      • Marc David

        Isn’t the majority of working folks contributing to a 401k?

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        • it is showtime

          Can’t wait for the majority of working folks contributing to a 401k TO GET FUCKING SLAUGHTERED

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          • Marc David

            They already did in 2009. I mean if you weren’t close to retirement.. no biggie. If you were right on that cusp.. your entire life was changed.

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          • bushwacker2

            Why? Why do you want to see them slaughtered? Are you some kind of a jerk/asshole?

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      • MSGT HARTMAN

        All of this in and out stuff, reminds me of a dog in heat. And like the dog in heat all you’ll be left with is 6 puppies milking your tits.

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