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
17,842 Blog Posts

Futures Higher, Gold, Silver, Oil Ripping — Blockchain: FUCKED

I woke up this morning to this news.

The revelation of an SEC investigation into the nefarious practices of a company dubbed RIOT, which I happen to own as of yesterday.

“SEC Chairman Jay Clayton warned that it is not acceptable for companies without a meaningful track record in the sector to dabble in blockchain technology, change their name and immediately offer investors securities without providing adequate disclosures about the risks involved, As a result, we could be subject to substantial SEC scrutiny that could require devotion of significant management and other resources and potentially have an adverse impact on the trading of our stock.”

I sold the fucker in the pre-market, down 4%. Absolutely fucked by the SEC, absolutely. I can’t catch a break with these shitcoin companies. All I want to do is trade them a little — 100% here, 75% there. I haven’t any interest in their actual businesses, which is why I suppose these occasional losses are well deserved and earned. It’s nearly impossible to nail these volatile stocks all the time — there will be blood.

Speaking of which, oil is up nearly 2% and gold/silver are also running. This, of course, will fuck my Russian short, but provide succor for the NUGT. By the way things are angling out in the pre-market, I’ll be lucky to break even should the market gap higher by 500.

Midway into April, I am sick and tired of 30 degree weather here in the north east. I know you southerners think you’re blessed with hot air — but it makes the people stupid and the insects belligerent. The cold air makes the people smart — forces them to think about their crops and how they might survive over the harshest months of the year. For example, the local farmers market here is closed on Wednesday, and during off-peak season, they close at 5pm. There are times, sadly, when I am forced into the dissolved premises of the Princeton Whole Foods in order to purchase produce with the rest of the empty vessels. But I just about had my fill with freezing temperatures and would kindly like to make a very public appeal to the Gods for warmer climes. Thank you very much. (<—- things an asshole would say after a sentence like that)

There’s a bunch of other shit taking place in the pre-market, but I don’t feel like telling you about it, quite frankly.

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14 comments

  1. Lyndon Keltner

    Silver and copper went parabolic on the 15-minute and 30-minute timeframes. Droppage inevitable.

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    • ferd

      Still, a risky short. When silver is breaking out of a long down trend, it can move 60 cents a day. Anyway, keep posting your trades …I prefer them to your racist rants.

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      • infinitezuul

        There’s no risk when you’re not actually doing it. London’s comment from yesterday:

        “Lyndon Keltner
        Lyndon Keltner April 17, 2018 at 9:15 am
        The /ES is a screaming short circa 2700 and above for at least 10 whole points of profit by the afternoon.

        0 0 1”

        He is wrong about everything.

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        • sarcrilege

          the only real, executed and reported trades on here are from commenters who login to curse and make credible threats to kill Fly by waterboarding; or by some other cruel methods. All else are paper trades not worth commenting.

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        • Lyndon Keltner

          Shorted ES at 2700 and 2710. Covered at 2704 today.

          Sure I was wrong on that trade, and even when I got it wrong I still won.

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      • Lyndon Keltner

        I started the position at 17.15 this morning and added/will be adding to it up to 18.10 by tomorrow. The target exit is 10 ticks below the average position price. So, ideally, I would like to see another surge tonight/tomorrow so I get to average up.

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  2. juice

    “Midway into April, I am sick and tired of 30 degree weather here in the north east. I know you southerners think you’re blessed with hot air — but it makes the people stupid and the insects belligerent. ”

    the weather vignette — classic Flea ! 😛 😀

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  3. acehood

    Forgot to read the RIOT prospectus, did we Brad?

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  4. dp909rev

    Fly, do Exodus calculations have anything to do with a negative or inverse Gartman trade? He just shorted oil not two days ago. Maybe he should get an Exodus subscription, but that might put your formulaes in jeopardy. The Inverse Gartman is like taking candy from a baby….which is actually much more difficult..

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    • bmacku

      Inverse fly is way more money that inverse Gartman… you want to do the opposite of both. It has to be embarrassing at this point for the fly… his dick is down to a stub and his finger nails have been smashed with a hammer.. I never laughed so hard when he shorted vol at all time lows and got taken to zero… I saw that one coming but it was very entertaining to watch that train wreck in real time… only degenerates Trade inverse or tripled levered ETFs… I did have a strategy where I would short the 3x long gold miners and short the 3x short gold miners to collect the management fees and the decay- but interactive brokers saw what I was doing and told me they made a mistake and there were ni shares available to short which blew my money printer machine up

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  5. heckler

    Good post Flea

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  6. ferd

    There should be a fair number of trapped shorts in silver who entered between 16.10 and 16.90. How much pain before it comes back in.

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  7. bmacku

    I come to this website and do the opposite of what “the fly” recommends and am absolutely killing it.. never made so much money than I have in the last 6 months fading the fly… still sorry mate, but stick to blogging. You trade like a caveman – your rational for putting trades on is too simplistic.

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  8. bmacku

    Looking for 75% returns ? Give me a break. You may catch one or two out of 25.. get your dick chopped the rest of the time. You can’t beat the market; it’s jot rational which is why I stick to commodity trading bc I have always sucked dick trying to trade stocks. You remind me of Dan Mahoney – a degenerate gambler that will play until you lose it all… just get long amazon and check back next year instead of getting your dick chopped off everyday… you had dick chopped so many times you have a prosthetic one now.

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