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
18,706 Blog Posts

GET ON THE FUCKING ARK LADS — THIS MARKET IS TOAST

Listen to me now.

Avoid buying dips like a fucking moron. Don’t you have eyes? Can’t you read the fucking news? You’re so accustomed to the news and facts not mattering, you’ve blocked it from your idiot brains.

Do yourselves a favor and explore the possibility of being long bonds now. Why bonds? Because when the shit hits the fan, mind you, US treasuries are safe harbor.

Why?

Because when FUCKERS like me sell stocks — they don’t go into checking accounts — because the FDIC doesn’t insure for large amounts. The proceeds head into treasuries. Plus, now we have a market rout and people view bonds, especially the long end, as a great alternative to getting fucked on a minute by minute basis.

I stepped in and bought TLT here — 10% position.

Also, I bought some SOXS — because the semis are woefully exposed to China.

Bear this in mind, this recent chop has created a FAGbox. Do you think we’ll hold this range, or break lower? Do you really believe we’re gonna break higher? REALLY?!

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

12 comments

  1. mrcharlie

    Mornin Fly, Im sure you have bigger fish but about capstone and exodus are they platforms/info that would be practical and a good idea to someone like myself that only trades a few times a month compared to a more frequent trader? thanks

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Dr. Fly

      Exodus has a wide array of tools that can help you build strategies and a very active trading room with sharp people.

      Capstone is a 1 on 1 service, which will launch on Friday, with me doing screen share boot camps or mentoring, to help you make smarter investment decisions.

      Both are great. Capstone will be all me. Exodus is tools + community.

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

        Thanks, I recall that capstone list of topics looked sick and a bit daunting but I dont mind learning and have been a value line reader for years. I just dont have the time/position to make daily moves so Exodus does not seem like a good decision. Despite it containing many tools daily trades just are not my style. Look forward to reading more on Friday!

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

    You missed the boat, Fly. Look at MU. 50% China sales, right? It’s been steady up since the gap down. I’m strong-long, buy when others are scared

    First traders beleive Trump when he said he made a great deal (Monday), now they beleive him when they think he’s goign to fuck himslef over. The market is fucked, but that will be later.. It’s not Friday, so the market has bottomed for the week.

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

    What boat? This fucking thing just started. Are you delusional?

    • 2
    • 1
    • 0 Deem this to be "Fake News"
    • numbersgame

      If I am, I;m not the only one. Look at NFLX. The damn thing is unchanged for the day. Major dip buying, too much monetum to get i nthe way.

      Note that APPL stopped it’s downward momentum before it hit last week’s low ($170.26), ie higher low,

      Look at the VIX chart. Already falling again. Now look at the 1-yr VIX, How often do you think we get a big initial daily spike, settle down midway, then get a bigger spike? Not often We’ll probably get to 13 or so,and peopel will be calm, then sh!t will hit the fan again. Brexit, failed China deal, etc., I think we are done with plunges for a few days or so.

      Of course, it’s still early, so we’ll see at 3.

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

        To be clear, there is no way I’d be long this market for more than few days.

        Also, I was VERY short heading into this morning (with some long hedges). After checking out the morning action, that’s when i swittched and went long.

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

        If China trade is dead, so is Amazon”s revenue. AMZN now down <1%.

        See you at 3.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  4. ferd

    long BCS

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. roundwego

    Oil is getting killed. More credit defaults and bank busts coming.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. chuck bennett

    OPEC , at least some of them will say they are cutting production. Maybe only Russa.

    Let’s see how that works.

    Regards

    Chuck Bennett

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. jbandy

    A little late if you are trying to flip it for a quick gain in the next few days. Fine if you’re holding it longer term (next 1 month+).

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

Leave a Reply