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
23,433 Blog Posts

The Dow, Nasdaq Bolt Out the Gates — The Very Best Start Since 2006

In my first short story published in 2017, I discussed my grand time during the dot com rise — the ups and more ups that caused me to become a greedy caitiff, believing I was invincible and immune to the pangs of disappointment. In my second story, which I highly recommend — especially for young traders — I outlined how hubris and easy gains nearly ruined me. There is a third part to this story that will eventually be told. Sadly, it might take a few years to complete, as I am too busy with other things now. But the narratives are very relevant for today, as we ascend higher — marking the best start to a New Year since 2006.

Back in 2006, everyone I knew was flipping homes, making fortunes off real estate. Now everyone is buying cryptos and crypto proxies, banking millions.

Right now, I am moving in 100% increments, totally bereft of fear and accustomed to easy money. I’ve been at the forefront in Exodus on this crypto-proxy trade — something that comes in the form of a press release that gifts enormous riches to those lucky enough to partake. While I do not think the party will ever end, some people believe it will. Eventually, enough people will begin to believe it and then a stampede will occur — people taking flight — knocking down the gas lamps on their way out — burning all those left inside alive to a cinder. After the ashes are cleaned up and the venue redecorated, a new party will emerge, with fresh new faces, peppered with the occasional old face who was there before the fire, who knew those who perished, and was aware of the dangers of having cocaine parties amidst gas lamps.

I was once a young face at this party urinating on the gas lamps — but now I’m an older one — a survivor and witness to debauchery gone wrong. Many of you reading this will lose all of your money, AND MOAR, when it all ends and even though I’m warning you directly, you will not heed the warning. You’ve never seen the flesh melt off the bones and the face cracked in half thanks to a stampede of drunken idiots.

All that aside, it has been a fine week and my Quant is +3%. Gains in my discretionary account are too absurd for me to boast about. No one would believe me if I told them. Enjoy the balance of your day and have a good weekend. We’ll make even MOAR next week.

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9 comments

  1. Marc David

    I’d like to know your take on the crypto-space in terms of where it is… early stage has passed. Is this the beginning where now people are becoming aware.. trying to get into the party? I’m curious to know where you think we are in this space.

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    • Dr. Fly

      8TH INN

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      • Marc David

        That’s about the time I leave the game to beat traffic.

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        • it is showtime

          You’re being played with. You’re being toyed with.

          Regarding indexes shiller has now traced a full boombust-collapse peak.
          Go ahead rationalize multiples.
          You’re all dead

          You did exactly what they wanted to the first few years, cheering a subtly but conspiculously controlled(rigged) stock market
          As I said, that meant you were giving away the stock market. They now have created the engineered bubble collapse setup, that some of us surmised back then as well.

          Are you really, gonna tell me, multiples deserve it…
          And… that there isn’t… someone pushing buttons creating the surges…

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    • joyous__ending

      Crypto is classic Elliott Wave Theory in action.

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  2. chuck bennett

    Crypto forever

    It makes transactions easier , if your doing illegal things.

    Much cooler than gold and you have so many more options.

    Regards

    Chuck Bennett

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  3. it is showtime

    You guys have no idea the devastation coming to society.
    You’re on the cusp. You’re past the point of no return.
    You’re sitting ducks.
    And I was right
    3+ 4+ yrs ago

    How stupid can humans possibly be – the level and rate of increase for the first four trading days should be a red flashing threat alert – not a sign of celebration and emergence – that is often what you do though – interpret danger initially as mitigated

    Showtime is Rising

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

      You will finally join the party. That’s when we know the high is in.

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  4. bob smith

    Fly, really? You survived… with your life and money… and now you are back in the game of degeneracy… “free money” for all? Have you learned nothing from your previous experience?

    I have learned from previous pain. That is, after all, the purpose of pain…

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