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
23,474 Blog Posts

DON’T. GET. HOOKED

About 20 minutes ago, when the market was off by 650, I made my quantitative purchases for the month of April. I didn’t want to do it — but rules are rules and Exodus has made its recommendations by which I am obligated to follow.

It should be noted, this strategy has beaten the SPY ever month of 2018 and is +2.1%, even after today’s setback, substantially better than the loss of 4%.

Over in my trading account, I am much more reserved, long three stocks, one of which is ERY, a downside play on oil stocks. The majority of my account is in cash and although it’s tempting to buy this dip — I see no reason to get involved in this shit-storm in any significant manner.

As you wallow in your misery, might I entreat you to an old classic?

Enjoy.

If you enjoy the content at iBankCoin, please follow us on Twitter

28 comments

  1. it is showtime

    Retest complete.

    fuck –youall

    • 6
    • 0
    • 1 Deem this to be "Fake News"
    • Raul3

      nice

      • 0
      • 0
      • 0 Deem this to be "Fake News"
    • numbersgame

      I gave you thumbs up, but tell me this: is the next 5% move (in whatever stock index you are using) going to be up or down?

      You said (and I agree) that it was all BS since Jan 2017, but the bulls are still up quite a bit.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • it is showtime

        Just stating that retesters got their hit. With rousing applause.
        As for 5%, I would say you have a declining 50dma about 5% above the 200. I think it will be tough to break the 50 day if you get there. It may be a declining trend now…

        • 1
        • 0
        • 0 Deem this to be "Fake News"
        • s.k.

          So in other words, you have no idea.

          • 1
          • 0
          • 1 Deem this to be "Fake News"
          • tonka

            If you speak in riddles you can be wrong forever and still sound smart.

            • 1
            • 0
            • 0 Deem this to be "Fake News"
          • it is showtime

            The sudden focus on me says a lot lol

            You know the tide has started turning. lol

            The energy you’re spending “on attack” – lol

            so, you want me to pin down an opinion on the next 5% move? and then when I provide the most reasonable answer available, lambaste? oh, what a hotshot

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • tonka

            You’ve been called out from the moment you showed up years ago. You used to talk about doubling and tripling down on leveraged inverse ETFs. You were so wrong for so long you stopped giving specifics and just vaguely referenced manipulation. Keep telling yourself the attacks are a recent trend…but if you keep adding zero value you’ll keep getting attacked.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • numbersgame

            I think that was a perfectly reasonable answer. The explanation has more insight than a prediction, and the prediction is ther, if not as clear.

            “if you get there” -> bearish
            “tough to break” -> bearish

            Overall pessimistic viewpoint. I’m counting this as saying 5% down.

            I’m also in agreement. On a technical level, we are now below the 200dma, which hasn’t occurred since mid-2016

            • 0
            • 0
            • 0 Deem this to be "Fake News"
      • Phileo99

        The next 5% move will be up

        • 0
        • 0
        • 0 Deem this to be "Fake News"
    • WrongView

      It’s silly. This call of yours was wrong for so, so very long. The only folks you can really sneer at are ones that got in for the first time a couple of weeks ago. Everyone else made money on the way up and has the exact same opportunity as you to make money if it goes down.

      Why the anger, dude. It won’t help you next time.

      PS I sincerely hope you make a ton of money on the next multi-year move, whatever the direction.

      • 1
      • 0
      • 0 Deem this to be "Fake News"
      • it is showtime

        I’m on longterm conquest, and poetic justice, themes

        Best to you in your game

        • 0
        • 0
        • 2 Deem this to be "Fake News"
    • tonka

      Couple weeks ago you were bragging about how you called the bitcoin bubble when it was $4,000…

      This sounds oddly similar.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • it is showtime

        I’m about Truth to Bullshit
        Truth To Power
        Truth To Power!
        Truth to Bullshit

        it’s about machinations in the financial power circle agendas

        • 0
        • 0
        • 2 Deem this to be "Fake News"
        • tonka

          So how do you know when you’re right?

          You can be early and blame manipulation forever.

          • 1
          • 1
          • 0 Deem this to be "Fake News"
          • it is showtime

            Dude!

            Uh the indexes would’ve rolled over by 2011 without the mechanisms, and/or programs [qe, zirp], being applied

            Get it?

            Dude?

            The manipulation at least doubled the height of eventual normalization. It’s not a right/wrong thing. It’s just the factual timeline.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
          • tonka

            Well…you’re confident…I’ll give you that much.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
    • joyous__ending

      Way too early. This market will chop you up.
      Folks will buy the dip, squeeze out 1-2% and think they got it.
      Nah, still more to go.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  2. Cricket

    LOL. “Even Cramer doesn’t know what to think.”

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  3. cancel19

    WTF happened to “as january goes so does the market” mofos!!!??? I would use moar exclamations but Dr. Fly doesn’t like moar than three.

    • 1
    • 0
    • 1 Deem this to be "Fake News"
    • acehood

      We end the year up 10%. Book it.

      • 0
      • 2
      • 0 Deem this to be "Fake News"
    • it is showtime

      January was a predetermined finale

      It’s right in line with everything I said the previous 6+ months
      Not a brag. Not a reach… just fact

      • 0
      • 0
      • 1 Deem this to be "Fake News"
  4. gappingandyapping
    gappingandyapping

    Its OVER crypto fags. We are talking Ethereum down from $1200 to $350 in 2 FUCKING MONTHS! CANCEL ALL ORDERS! We told you to get out and you didn’t listen. https://www.tradingview.com/x/AaGVcZxw/

    • 2
    • 0
    • 0 Deem this to be "Fake News"
  5. Lyndon Keltner

    Traders ought to study the 1962 stock charts circa Cuban Missile Crisis when the markets went down vertically for days. That looks fun.

    • 0
    • 0
    • 1 Deem this to be "Fake News"
  6. roundwego

    Oil breaking down

    • 0
    • 0
    • 0 Deem this to be "Fake News"